Interim Report First Quarter 2021

Stockholm – Tele2 AB (“Tele2”) (Nasdaq Stockholm: TEL2 A and TEL2 B) today announces its consolidated results for the first quarter 2021.

CEO Comment

– Our first quarter has been a story of disciplined focus and delivery in the face of pandemic headwinds. We managed to grow underlying EBITDAaL by 6 percent through continued execution on the business transformation program, operational discipline and impressive performance in the Baltics. While we are not back to normal yet, the future is now more predictable, giving us confidence that we can distribute an extraordinary dividend of SEK 3.00 while keeping a strong balance sheet, says Kjell Johnsen, President and CEO of Tele2.

Highlights

• End-user service revenue of SEK 4.7 billion declined by 1% compared to Q1 2020 on an organic basis due to a negative impact from the pandemic.
• Revenue of SEK 6.6 billion was flat compared to Q1 2020 on an organic basis.
• Underlying EBITDAaL of SEK 2.3 billion increased by 6% organically compared to Q1 2020 driven by strong performance in the Baltics, cost savings, temporarily low commercial spend and bad debt provisions recognized in Q1 2020.
• Profit after financial items (EBT) of SEK 1.1 billion increased by SEK 0.1 billion compared to Q1 2020. Net profit from total operations of SEK 0.9 billion (SEK 1.25 per share after dilution) decreased by SEK 0.3 billion compared to Q1 2020.
• Equity free cash flow from continuing operations of SEK 0.8 (1.3) billion in the quarter decreased mainly due to a spectrum capex payment. Over the last twelve months, SEK 4.3 billion was generated, equivalent to roughly SEK 6.3 per share.
• The Board of Directors proposes an extraordinary dividend of SEK 3.00 per share to be distributed in July, 2021.
• Spectrum licenses in Sweden acquired, enabling nationwide roll-out of 5G network.
• Capital Markets Day to be held on May 25, 2021.

Teleconference and webcast
Tele2 will host a teleconference and webcast with presentation at 10:00 CEST (09:00 BST, 04:00 EDT) on Thursday, 22 April 2021. The presentation will be held in English and will be available as a webcast at www.tele2.com.

Dial-in information
To make sure you are connected in time for the teleconference, please dial in a few minutes in advance and register your attendance. Use Confirmation Code 7955828.

Dial-in numbers:
SWE: +46 (0) 8 50 69 21 80
UK: +44 (0) 20 71 92 80 00
US: +1 63 15 10 74 95


For more information, please contact:
Joel Ibson, Head of Corporate Communications, Phone: +46 766 26 44 00
Marcus Lindberg, Head of Investor Relations, Phone: +46 73 439 25 40


This information is information that Tele2 AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CEST on 22 April 2021.

Tele2’s vision is to be the smartest telco in the world, creating a society of unlimited possibilities. Ever since Tele2 was founded in 1993, we have continued to challenge prevailing norms and dusty monopolies. Today, our award winning networks enable mobile and fixed connectivity, telephony, data network services, TV, streaming and global IoT solutions for millions of customers. We drive growth through customer satisfaction and smart combined offerings. Tele2 has been listed on Nasdaq Stockholm since 1996. In 2020, Tele2 generated revenue of SEK 27 billion and reported an underlying EBITDAaL of SEK 9 billion. For latest news and definitions of measures, please see our homepage www.tele2.com.

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