Revenues down 3% in Q4 for Tele2, but EBITDA rises

2 Feb 2021

Sweden-based Tele2 has reported a 3% organic decline in revenues for its continuing operations in the fourth quarter of 2020 to SEK6.88 billion (USD813 million), with end user service revenues down 2% year-on-year at SEK4.81 billion. Underlying EBITDA increased 3% organically to SEK2.35 billion despite the pandemic impact, driven by a strong performance in the Baltics. Net profit from all operations rose from SEK943 million in Q4 2019 to SEK4.12 billion in the most recent period, attributed largely to one-off translation differences of SEK3.31 billion relating to the closure of the final parts of the group’s business in Luxembourg where it formerly had its HQ.

The group claimed 7.19 million mobile customers in Sweden, Lithuania, Latvia and Estonia at the end of 2020, up from 7.17 million a year earlier. There were also 911,000 fixed broadband subscribers in Sweden, up from 873,000 at end-2019.

Sweden, Tele2