Tele2 of Sweden has reported total revenues of SEK7.45 billion (USD720 million) for the fourth quarter of 2022 and SEK28.10 billion for FY 2022, both figures up 4% year-on-year on an organic basis. Underlying EBITDA rose 3% to SEK2.48 billion in Q4 and increased by the same margin to SEK10.06 billion for the full year. Net profit climbed from SEK953 million in the final three months of 2021 to SEK1.26 billion in the most recent quarter, while net profit for FY 2022 stood at SEK5.57 billion, improving on the year-earlier figure of SEK4.31 billion.
The positive results were driven by the business services market in Sweden, where service revenues were up 6% in the fourth quarter to SEK1.03 billion, plus the Baltic region, where end user sales rose 11% in Q4 to SEK1.04 billion.
The group claimed 7.51 million mobile subscriptions in Sweden, Lithuania, Latvia and Estonia at the end of 2022, plus 949,000 fixed broadband subscriptions and 158,000 fixed voice subscriptions in Sweden at the same date.