Telia Company net sales decrease 8.8% in Q3 2017

19 Oct 2017

Sweden-based Telia Company has recorded a net sales decrease of 8.8% for the third quarter of 2017 to SEK19.63 billion (USD2.41 billion) from SEK21.52 billion in the corresponding year-ago period, attributed to divestments and a slowdown in the Swedish fibre market. The company announced that it saw positive service revenue growth in all of its markets except for Sweden, with group adjusted EBITDA totalling SEK6.60 billion in the quarter ended 30 September 2017, a 3.6% decrease from SEK6.85 billion in Q3 2016. Total net income improved in the third quarter of 2017 to SEK2.54 billion after recording a net loss of SEK8.64 billion in the year-ago period.

Factors impacting Telia’s Q3 2017 performance include the investigation into the company’s actions in Uzbekistan by US and Dutch authorities. A settlement was agreed in September this year where Telia agreed to pay a global resolution sanction of USD965 million. The group’s total number of subscribers fell from 26.8 million at 30 September 2016 to 23.3 million a year later.

Sweden, Telia Company