Interim Report Second Quarter 2021

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

CEO Comment
– Tele2 delivers a good quarter that reflects our solid underlying momentum. We have successfully combined Tele2 and Com Hem into one premium brand and have started to execute on our new commercial strategies, already seeing some early positive signals as a result. Now that a post-pandemic society is on the horizon, we are recalibrating our business step by step towards a strong focus on growth, says Kjell Johnsen, President and CEO of Tele2.

Highlights

• End-user service revenue of SEK 4.8 billion increased by 2% compared to Q2 2020 on an organic basis due to strong performance in the Baltics and stabilization in Sweden.
• Revenue of SEK 6.6 billion increased by 1% compared to Q2 2020 on an organic basis.
• Underlying EBITDAaL of SEK 2.4 billion increased by 8% organically compared to Q2 2020 driven by strong performance in the Baltics, cost savings, lower commercial spend and less headwinds related to the pandemic.
• Profit after financial items (EBT) of SEK 1.0 billion, flat compared to Q2 2020. Net profit from total operations of SEK 1.4 billion (SEK 1.97 per share after dilution) increased by SEK 0.5 billion compared to Q2 2020.
• Equity free cash flow from continuing operations of SEK 1.3 (0.9) billion. Over the last twelve months, SEK 4.7 billion was generated, equivalent to roughly SEK 6.8 per share.
• Extraordinary General Meeting approved an extraordinary dividend of SEK 3.00 per share which was paid out in July.
• Tele2 and Com Hem brands consolidated into one strong premium convergent brand.
• Financial guidance for 2021 updated to flat to low single-digit growth in end-user service revenue (previously flat), mid-single-digit growth in underlying EBITDAaL (previously 2-4% growth) and capex excluding spectrum and leasing assets of SEK 2.8–3.3 billion (unchanged).
• On July 12, 2021 Charlotte Hansson was appointed EVP Group CFO and Hendrik de Groot was appointed EVP CCO. Charlotte Hansson starts her position on January 10, 2022 and Hendrik de Groot starts his position on August 2, 2021.

Teleconference and webcast
Tele2 will host a teleconference and webcast with presentation at 10:00 CEST (09:00 BST, 04:00 EDT) on Wednesday, 14 July 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 5299752.

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 14 July 2021.

Tele2’s vision is to be the smartest telco in the world, enabling a society of unlimited possibilities. Ever since Tele2 was founded in 1993, we have continued to challenge prevailing norms and dusty monopolies. Today our 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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