Baltic region spurs revenue growth at Tele2

14 Jul 2021

Sweden’s Tele2 has recorded a 1% organic increase in revenues for the second quarter to SEK6.57 billion (USD763 million), while end user service revenues climbed 2% to SEK4.82 billion due to a strong performance in the Baltics and stabilisation in Sweden. Underlying EBITDA after leases rose 8% on an organic basis to SEK2.37 billion and net profit climbed from SEK895 million in Q2 2020 to SEK1.37 billion in the second quarter of this year. Financial guidance for 2021 has been updated to flat-to-low single-digit growth in end user service revenue (previously flat), mid-single-digit growth in underlying EBITDAaL (previously 2%-4% growth) and CAPEX excluding spectrum and leasing assets of SEK2.8 billion-3.3 billion (unchanged).

Tele2 had 7.24 million mobile subscribers in Sweden, Lithuania, Latvia and Estonia at the end of June, up from 7.10 million a year earlier, plus 920,000 fixed broadband customers in Sweden (893,000 at Q2 2020).

Sweden, Tele2