Q3 revenues remain flat for Tele2

17 Oct 2019

Sweden-based Tele2 Group says its revenues remained flat in Q3 2019 at SEK6.85 billion (USD699 million) on an organic basis compared to the year-earlier period. There was organic growth of 5% in pro forma underlying EBITDA to SEK2.48 billion. Reported operating profit rose from SEK926 million in Q3 2018 to SEK1.37 billion a year later, while net profit increased from SEK633 million to SEK981 million, due to the inclusion of Swedish broadband and pay-TV provider Com Hem, which was acquired in November last year.

The group has been downsizing its overseas operations in recent years, selling its businesses in Kazakhstan and the Netherlands and agreeing to offload its subsidiary in Croatia, leaving it to concentrate on the Scandinavia and Baltic regions.

Sweden, Tele2