Russia drives Tele2’s Q3 revenues, EBITDA up 4%, 5%

Net sales growth for Sweden’s Tele2 group amounted to 4% year-on-year in the third quarter of this year, reaching consolidated revenues of SEK10.3 billion (USD1.6 billion), while EBITDA in July-September 2011 amounted to SEK2.9 billion. A record EBITDA contribution was made by the Tele2 Russia division, which added 681,000 mobile customers in Q3 2011 to reach a total user base of 20.4 million, whilst the Russian unit recorded an EBITDA margin of 40%, up from 38% a year earlier. Meanwhile, robust mobile revenue growth in Tele2’s Nordic business areas saw wireless turnover in Sweden increase 7% year-on-year, as customer demand for smartphones and data services remained strong. Mobile customer growth in the domestic market stood at 95,000 (compared to 103,000 twelve months previously) in the quarter ended 30 September. Also during the period under review, Tele2 announced its intention to wholly acquire its joint venture Network Norway, creating the third largest mobile operator in the Norwegian market. Elsewhere, Tele2 Kazakhstan continued its launches in additional regions of the country, resulting in a customer intake of 459,000 (up from just 1,000 in the year-ago quarter), giving a subscriber total of 1.1 million at the end of 3Q11.