Restructured Tele2 has leaner, meaner results

Swedish telecoms group Tele2 has posted consolidated net sales for the second quarter of 2009 of SEK10.13 billion (USD1.32 billion), up by 3% from SEK9.83 billion in the corresponding quarter of 2008. The group’s EBITDA rose by 17% in the same period from SEK2.10 billion to SEK2.45 billion, whilst net profit improved by 608% year-on-year to SEK1.14 billion. Total mobile, broadband and fixed customers at 30 June 2009 reached 25.366 million, up from 24.973 million a year earlier. The group was particularly proud of its performances in Russia where it added 478,000 net new mobile customers in April-June 2009, and the Baltic region where it managed to improve EBITDA from SEK372 million in 2Q 2008 to SEK384 a year later despite a weakening economy. Growth in Tele2’s Western European market area, where it has divested several operations over the last few years, was driven by Tele2 Netherlands and Tele2 Austria, and contributed to improving cash flow for the group.