TeliaSonera Investor Day
Today at TeliaSonera’s Investor Day in Stockholm, President and CEO, Lars Nyberg spoke about TeliaSonera’s position, strategy, technological leadership and the changing competitive landscape.
“The unlimited demand for bandwidth makes both the mobile and fixed access businesses attractive. Data traffic has exploded and the number of subscribers is increasing. This will require that we develop our business models and services. At the same time, we need to secure the quality of our networks and improve our cost efficiency”, Lars Nyberg said. Nyberg also said: “To maximize shareholder value, TeliaSonera will have a disciplined approach to M&A, with a strategy to increase ownership in core holdings and evaluate complementary acquisitions within the group’s existing footprint, while at the same time selectively looking at new markets in Eurasia.” TeliaSonera has earlier communicated that it will consider different strategic options for the Spanish operation, Yoigo. Given the present economic climate, we have not been able to find an acceptable solution, and therefore our current focus is to continue to develop Yoigo’s business. The forecast is that Yoigo will become EBITDA positive in the fourth quarter 2010 and cash flow positive at the end of 2011. At the meeting, TeliaSonera reiterated its outlook for 2009 saying that net sales in local currencies and excluding acquisitions are expected to be in line with or slightly below the level of 2008. The addressable cost base in 2009 is expected to be below the SEK 33.8 billion of 2008, in local currencies and excluding acquisitions. The EBITDA margin in 2009 is expected to exceed the level of 2008, excluding non-recurring items. The CAPEX-to-sales ratio is expected to be in the range of 13-14 percent in 2009. Other featured TeliaSonera speakers at the Investor Day included, Kenneth Karlberg, President Business Area Mobility Services, Håkan Dahlström, President Business Area Broadband Services, Karin Eliasson, Head of Group Human Resources, Tero Kivisaari, President Business Area Eurasia and Per-Arne Blomquist, Executive Vice President and CFO. TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 13.00 p.m. CET on September 7, 2009.