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TELIA - Telia AB News Story

SEK35.72 -0.0  -0.1%

Last Trade - 5:00pm

Sector
Telecoms
Size
Large Cap
Market Cap £12.44bn
Enterprise Value £20.73bn
Revenue £7.59bn
Position in Universe 59th / 1829

UPDATE 1-Telia cash flow pips forecasts, core profit in line

Wed 20th January, 2021 7:08am
(Adds detail, background)
    STOCKHOLM, Jan 20 (Reuters) - Nordic telecom operator Telia
Co AB  TELIA.ST  said on Wednesday it had notched
better-than-anticipated operational cash flow in 2020 while
preliminary core profit was roughly in line with its outlook.
    Telia said it plans to propose a dividend of 2 crowns per
share for 2020, though its October-December results would be hit
by an impairment charge related to business in Finland worth 7.8
billion crowns ($936 million).  
     It added its board of directors regarded 2 crowns per share
as a "sustainable minimum dividend level" for the coming years. 
    Under Allison Kirkby, who took over as CEO last year, the
company reinstated its full dividend in October after announcing
a deal to sell its international carrier business for 9.45
billion crowns.  urn:newsml:reuters.com:*:nL8N2GX102
    "The operational free cash flow reached SEK 12.1 billion for
the year, above the outlook of 'reaching the upper end of SEK
9.5-10.5 billion'," Telia said in Wednesday's statement, adding
the outperformance was mainly linked to working capital.
    The Nordic company said it had generated an adjusted
fourth-quarter earnings before interest taxes depreciation and
amortization (EBITDA) broadly in line with its stated outlook of
around 30.5 billion crowns for the full year.
    Analysts had expected EBITDA in 2020 at 30.15 billion
crowns, according to a Refinitiv poll.
    Telia is due to report its full-year results on Jan. 29.
    
    ($1 = 8.3321 Swedish crowns)

 (Reporting by Helena Soderpalm and Johannes Hellstrom, Editing
by Sherry Jacob-Phillips)
 ((johannes.hellstrom@thomsonreuters.com; +46850242388; Reuters
Messaging: johannes.hellstrom.reuters.com@reuters.net))
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