Tele2 revenues jump 25%

11 Feb 2003

Pan-European telco Tele2 [Nasdaq: TLTOA] has announced a buoyant set of full year financial and operational results, recording a 25% increase in revenues to SKR31.28 billion on the back of a jump in its customer base to 16.8 million. According to President and CEO Lars Johan Jarnheimer, Tele2 managed to achieve record cash flow of SKR1.9 billion and to increase pre-tax profit by more than SKR2.7 billion to SKR796 million. The company’s Nordic division recorded 6.2 million customers at the end of the year, with Swedish mobile subscribers climbing 19% during the course of the year to three million. Its Eastern Europe and Russia unit recorded 1.57 million customers at the end of December, an increase of 58% year on year, while its Central Europe operation upped its customer base by 12% to 3.6 million and that for Southern Europe climbed 20% to 5.1 million.