Q1 turnover flat at Tele2

22 Apr 2021

Swedish telco group Tele2 has reported revenues of SEK6.55 billion (USD770 million) for the first three months of 2021, virtually unchanged from the year-ago period. End-user service revenues were down 1% at SEK4.73 billion. Underlying EBITDA rose 6% to SEK2.31 billion, driven by a strong performance in the Baltics, cost savings, temporarily low commercial spend, and bad debt provisions recognised in Q1 2020. Net profit fell, however, from SEK1.18 billion in the first quarter of 2020 to SEK865 million in Q1 2021, due in part to a SEK333 million payment for 3.5GHz spectrum in Sweden.

Sweden, Tele2