Tele2 shares rise as Q1 performance bodes well for the year

Tele2 AB

18/04/2024 10:18

April 18 - ** Shares in Tele2  TEL2b.ST  are up around
5% as the Swedish telecoms operator's Q1 service revenues and
EBITDA came in a tad higher than expected 
    ** "A promising start to the year," UBS analysts say
        ** J.P.Morgan highlights strong Sweden pricing trends
and free cash flow beat
  
    ** Equity free cash flow was of 1,291 million Swedish
crowns, 24% above consensus, JPM says, adding that Sweden's
strong average revenue per user (ARPU) growth offset customer
losses
    ** Tele2 reported EBITDAaL of 2,550 million crowns, 1.2%
above consensus, and reiterated its 2024 guidance
    ** The share, on track for its best day in over 2.5 year, is
among best performers on STOXX 600 index  .STOXX 
    ** Shares in peer Telia  TELIA.ST  are up 0.6% in morning
trade

 (Reporting by Tilla Sjaavaag)
 ((tilla.sjaavaag@thomsonreuters.com; +48 58 7696600;))