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Impairments hit Telia in Q4 and FY 2022

26 Jan 2023

Sweden’s Telia Company has recorded a 3.8% increase in net sales for the final three months of 2022 to SEK24.26 billion (USD2.37 billion), while full-year 2022 saw a 2.8% rise to SEK90.83 billion. On a like-for-like basis Q4 sales were up 0.5% while the full-year result was up 1.8%. The company said the increases were ‘driven by positive development across all units’. Adjusted EBITDA for Q4 was up 1.2% (down 2.0% like-for-like) at SEK7.37 billion, while for FY 2022 there was a 1.6% increase (unchanged like-for-like) to SEK30.33 billion.

The company recorded impairments of SEK19.84 billion in the fourth quarter related to goodwill in Finland, Norway, Denmark and Latvia, as well as impairments of the C More TV business and the Swedish copper network. This resulted in a net loss for Q4 of SEK18.82 billion and a loss for the year of SEK14.17 billion.

Excluding M2M connections, the group had 14.27 million mobile subscriptions in Scandinavia and the Baltic states at the end of 2022, up from 14.22 million a year earlier. Fixed broadband subscriptions rose from 2.94 million to 2.96 million over the same period.

Sweden, Telia Company

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