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TELIA - Telia AB News Story

SEK36.64 0.1  0.3%

Last Trade - 14/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £12.76bn
Enterprise Value £21.14bn
Revenue £7.54bn
Position in Universe 55th / 1832

UPDATE 1-Telia Q1 core profit just lags forecast as TV unit weighs

Wed 22nd April, 2020 6:50am
(Adds CEO comment, background, detail)
    STOCKHOLM, April 22 (Reuters) - Swedish telecom operator
Telia Company  TELIA.ST  reported quarterly core earnings below
market forecasts on Wednesday as weakness in its TV & Media unit
hit results, but said it had seen limited impact on its other
businesses so far from the COVID-19 crisis. 
    The company, which had said in March it no longer expected
to reach its 2020 earnings and cashflow forecast due to the TV &
Media business being hit due to the pandemic, cited lower
advertising revenues and lack of sports broadcasting as key
negatives.  urn:newsml:reuters.com:*:nL8N2BJ5EZ
    First-quarter adjusted EBITDA (earnings before interest,
tax, depreciation and amortisation) was 7.28 billion crowns
($720 million), down from 7.41 billion crowns a year earlier and
just below the 7.51 billion mean analyst forecast in a Refinitiv
poll.
    Telia said it expected to generate an operational free
cashflow of 9.5-10.5 billion crowns for the year, down from the
previous forecast of 10.5-11.5 billion.   
    "We have identified several mitigating activities that will
partially compensate for the decline within our TV & Media unit,
but that will also support the traditional telco operation
should they also be impacted," Acting CEO Christian Luiga said
in a statement.
    Telia's TV & Media unit was created after it closed the 9.2
billion crowns purchase of Bonnier Broadcasting, parent of
Sweden's biggest commercial channel TV4, late last year
    Luiga said future potential risk areas for Telia's business
included roaming, TV distribution revenues, delayed commercial
activities and potential supply chain disruptions.      


($1 = 10.1077 Swedish crowns)

 (Reporting by Johannes Hellstrom, Editing by Raju
Gopalakrishnan)
 ((johannes.hellstrom@thomsonreuters.com; +46850242388; Reuters
Messaging: johannes.hellstrom.reuters.com@reuters.net))
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