Sweden’s Telia Company has reported net sales of SEK21.18 billion (USD2.16 billion) for the third quarter of 2019, up 2.4% year-on-year as reported but down 3.7% on a like-for-like basis, including exchange rate fluctuations, acquisitions and disposals. Adjusted EBITDA on a like-for-like basis rose 11.0% to SEK8.27 billion, but excluding the positive impact from IFRS 16 the increase would have been just 1%. Adjusted operating income fell 2.8% to SEK3.85 billion and net income from continuing operations dropped 19.8% to SEK2.43 billion.
The total number of subscriptions across its fixed and mobile operations in Sweden, Finland, Norway, Denmark, Lithuania and Estonia rose from 23.1 million at 30 September 2018 to 23.7 million a year later.
Meanwhile, the firm says it has decided not to carry on with its three-year share buyback programme in order to ‘keep flexibility to invest in the coming years’ in the face of a weaker economic outlook. Telia has bought back around SEK10 billion worth of shares since beginning the SEK15 billion buyback in April 2018, but says it will not follow through with the remaining SEK5 billion.