TELE2 DELIVERS POSITIVE CASHFLOW OF MSEK 832 FOR QUARTER THREE AN IMPROVEMENT OF MORE THAN TWO BILLION SEK COMPARED TO THIRD QUARTER 2001
New York and Stockholm - Wednesday, October 23, 2002 - Tele2 AB ("Tele2", "the Group") (Nasdaq Stock Market: TLTOA and TLTOB and Stockholmsbörsen: TEL2A and TEL2B), the leading alternative pan-European telecommunications company, today announced its consolidated results for the third quarter ended September 30, 2002.
Positive cash flow of MSEK 832 (Q3 2001 MSEK -1,260) after investments
EBIT of MSEK 632 (Q3 2001 MSEK -41)
EBT of MSEK 419 (Q3 2001 MSEK -224)
Fixed line operations in Southern and Central Europe together reached EBITDA breakeven
Mobile operations for Tele2 in Sweden reported EBIT margin of 50% (EBITDA margin 56%)
Lars-Johan Jarnheimer, President and CEO of Tele2 AB stated: "In 2002 we set out to show that, as well as continuing to grow faster than our competitors, we could have strongly improving cashflow and reach pre-tax profitability. In each of the first three quarters of 2002 Tele2 has achieved these objectives and by the third quarter the business became profitable post tax as well.
"The mobile businesses have continued to perform strongly with Swedish mobile EBITDA margins of 56%, making it the most efficient mobile operator in Europe. The fixed line operations in continental Europe continued to improve and by the third quarter the Southern and Central market areas together reached EBITDA breakeven, with very strong growth in Southern Europe being driven by the introduction of local calling. The EBITDA margins in our Swedish fixed line operations improved to 24%, continuing to be at the upper end of our 20% to 25% target range. Our focus continues to be on low customer acquisition cost, churn management and operational cost control."
CONTACTS Lars-Johan Jarnheimer Telephone: + 46 8 562 640 00 President and CEO, Tele2 AB
TELE2’S MISSION IS TO FEARLESSLY LIBERATE PEOPLE TO LIVE A MORE CONNECTED LIFE. We constantly strive to be the truly integrated challenger – providing speed, data and video content, no matter where or when. 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 2018, Tele2 generated revenue of SEK 30 billion and reported an adjusted EBITDA of SEK 9 billion. For latest news and definitions of measures, please see our homepage www.tele2.com