TeliaSonera keeps to targets in Q3

19 Oct 2011

Stockholm-based TeliaSonera has reported in its third-quarter results that emerging markets such as Kazakhstan and Uzbekistan helped it to stick to financial forecasts. The Nordic group’s consolidated earnings before interest, tax, depreciation and amortisation (EBITDA), excluding non-recurring items, reached SEK9.8 billion (USD1.5 billion) in July-September 2011, up by 0.5% year-on-year and exactly in line with a poll of Reuters analysts. The company stuck to its previous forecast that net sales in local currencies would grow by 3% in full-year 2011 and that its costs would rise at a slower rate than turnover. Quarterly group revenue in local currencies and excluding acquisitions increased by 2.4% on an annual basis, with the most significant portion of growth accounted for by Telia’s Eurasian division, while sales at Spanish mobile operation Yoigo leapt up by more than 25%, and revenue in the group’s home market of Sweden climbed by 6%, aided by increased mobile smartphone and data services usage. However, in reported currency, three-month group net revenues decreased by 1.0% year-on-year to SEK26.6 billion, mainly due to the relatively strong Swedish crown (SEK), while net income attributable to owners of the parent company decreased to SEK4.9 billion from SEK5.9 billion in the year-ago quarter.

Sweden, Telia Company