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TELIA - Telia AB News Story

SEK36.9 -0.1  -0.2%

Last Trade - 11:44am

Sector
Telecoms
Size
Large Cap
Market Cap £12.72bn
Enterprise Value £21.02bn
Revenue £7.46bn
Position in Universe 57th / 1845

UPDATE 1-Telia Q1 core profit beats estimates under pandemic shadow

Fri 23rd April, 2021 6:38am
(Adds details on results)
    STOCKHOLM, April 23 (Reuters) - Nordic telecom operator
Telia  TELIA.ST  on Friday reported quarterly core earnings
above market expectations and said it was maintaining its
full-year outlook despite the pandemic affecting parts of its
business.
    The company said the first-quarter results took a hit due to
increased COVID-19 restrictions, including store closures,
versus the prior quarter, and lower roaming revenue as people
traveled less.    
    Telia's first-quarter adjusted EBITDA (earnings before
interest, tax, depreciation and amortisation) fell to 7.25
billion Swedish crowns ($859.9 million) from 7.28 billion crowns
a year earlier, beating the mean forecast of 7.19 billion
crowns, according to Refinitiv estimates.  urn:newsml:reuters.com:*:nWkr74fBsj
    Under Allison Kirkby, who took over as chief executive
officer last year from a rival telecom operator, the company has
reinstated its dividend, sold several businesses and launched a
strategy to cut costs and boost shareholder returns. 
    First-quarter revenue fell 2.7% to 21.81 billion crowns, but
edged past estimates of 21.66 billion crowns.
($1 = 8.4199 Swedish crowns)

 (Reporting by Supantha Mukherjee in Stockholm, editing by
Helena Soderpalm and Subhranshu Sahu)
 ((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004;
Reuters Messaging:
supantha.mukherjee.thomsonreuters.com@reuters.net))
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