Tele2 interim report third quarter 2024
Stockholm – Tele2 AB (“Tele2”) (Nasdaq Stockholm: TEL2 A and TEL2 B) today announces its consolidated results for the third quarter 2024.
Highlights
- End-user service revenue of SEK 5.5 billion increased by 3% organically compared to Q3 2023 due to growth across operations. Total revenue of SEK 7.4 billion increased by 3% organically compared to Q3 2023.
- Underlying EBITDAaL of SEK 2.8 billion increased by 2% organically compared to Q3 2023 mainly driven by end-user service revenue growth.
- Profit after financial items (EBT) of SEK 1.4 (1.3) billion in Q3 2024.
- Net profit from total operations of SEK 1.1 (1.1) billion and earnings per share of SEK 1.60 (1.54) in Q3 2024.
- Equity free cash flow of SEK 1.1 (1.9) billion in Q3 2024. Over the last twelve months, SEK 4.1 billion has been generated, equivalent to SEK 5.9 per share.
- Full year 2024 guidance and mid-term outlook unchanged.
- Tele2 and Disney Nordic have signed an agreement to offer Tele2 customers more entertainment through Disney+.
- After four years as CEO for Tele2, Kjell Johnsen has informed the board that he will be stepping down.
- Tele2’s Board of Directors has appointed Jean Marc Harion as President and CEO, effective from the 10th of November. Jean Marc Harion is currently the CEO of Polish telecom operator Play and serves on Tele2’s Board of Directors.
Comment from Kjell Johnsen, President and Group CEO of Tele2
“I am glad to report that we continue our growth in all business lines while being on track to finishing the 5G swap in Sweden. We see positive momentum and volume within Sweden Consumer and a good order intake for Sweden Business. Price adjustments in Latvia have played out well and the overall momentum in Lithuania and Latvia continues to impress.”
“As this is my last quarterly report at Tele2, I would like to thank my team, the Board and all employees for a lot of demanding work and a strong determination to deliver great services to our customers. We have worked together to transform a company consisting of several cultures and systems into a company with one strategy, common values and a culture that strives to improve our business operations while being a true leader within sustainability. We will now make sure we have a good handover to Jean Marc.”
Teleconference and webcast
Tele2 will host a teleconference and webcast with presentation at 10:00 CEST (09:00 BST, 04:00 EDT) on Tuesday 22 October 2024. The presentation will be held in English and will last no longer than 1 hour and 20 minutes.
Registration for the webcast and a separate registration for the teleconference is available at www.tele2.com.
For the teleconference, please note that dial-in numbers and unique PIN code (or a ‘call-me’ facility) will be provided when you register at www.tele2.com. To make sure you are connected in time for the teleconference, please register at least a few minutes in advance.
For more information, please contact:
Fredrik Hallstan, Head of External Communications Phone: +46 761 15 38 30
Stefan Billing, Head of Investor Relations, Phone: +46 701 66 33 10
This information is information that Tele2 AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CEST on October 22, 2024.
Tele2 is a leading telco with the purpose to enable a society of unlimited possibilities. Through our networks and services — ranging from mobile and fixed connectivity, telephony and data network services to TV, streaming and global IoT solutions — we are deeply connected to every aspect of today’s digital lifestyle. By making our infrastructure more powerful, reliable and sustainable, we enable society to become that as well. Tele2 was founded in 1993 and is listed on Nasdaq Stockholm. In 2023, Tele2 generated revenue of SEK 29 billion and reported an underlying EBITDAaL of SEK 10 billion. For latest news and definitions of measures, please see our homepage www.tele2.com