Better than expected Q2 for TeliaSonera

1 Aug 2003

Nordic telecoms giant TeliaSonera [TLSN.ST] has reported promising results for the second quarter of 2003, with profits boosted by increased popularity of its operations in Norway, Denmark, the Baltic countries and Eurasia. Pro-forma operating profit reached SEK2.74 billion at the end of June, compared to a loss of SEK37.97 billion at the same time in 2002, while EBITDA jumped from SEK8.07 billion from SEK6.24 billion; net sales fell by 0.1% in the year to SEK20.3 billion. The operator has said it expects earnings growth to slow in the second half of the year, but claims that it is on the lookout for new acquisitions in a bid to strengthen its position in the region further.