Turkcell deal hits Telia in second quarter

Sweden’s Telia Company has recorded a 2.7% year-on-year increase in sales for the second quarter of 2020 to SEK21.77 billion (USD2.4 billion). On a comparable basis, net sales were down 5.9%. COVID-19 had an estimated SEK1.0 billion impact on service revenues, driven by lower income from roaming, pay-TV and advertising. Adjusted EBITDA increased 3.6% to SEK 7.74 billion, but remained unchanged on a like-for-like basis. The group reported a net loss of SEK2.03 billion for the second quarter due to an impairment of SEK3.49 billion recorded as part of the sale of its stake in Turkcell Holding. Telia Company has operations across Scandinavia and the Baltic region.