Netherlands impacts Tele2 results

20 Oct 2016

Sweden’s Tele2 Group has reported a net loss of SEK2.27 billion (USD275 million) for its third quarter to 30 September 2016, reversing a profit of SEK397 million in the same period last year. The loss was attributed to one-off items totalling SEK2.55 billion, including a SEK2.46 billion impairment of goodwill in the Netherlands, where the group is in the process of building out a nationwide 4G LTE mobile network. Sales for the quarter stood at SEK6.96 billion, up from SEK6.79 billion in the year-ago period, while EBITDA dropped from SEK1.60 billion to SEK1.56 billion.

In operational terms the group added 168,000 net new customers in three months. There were 197,000 net mobile user additions, driven by Sweden, Kazakhstan, the Netherlands, Croatia and Lithuania, though there were declines for both fixed broadband (down by 2,000) and fixed telephony (down by 27,000). At 30 September 2016 Tele2 served 16.55 million subscribers across nine countries.

Netherlands, Sweden, Tele2