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Tele2 AB Announces Q4 & 2019 Results

Financial results News - Published on Wed, 05 Feb 2020

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Tele2 AB announced its consolidated results for the full year and fourth quarter 2019. CEO Anders Nilsson said “This quarter marked the end of a transformative year as we completed the integration of Com Hem and set Tele2 up for its journey to become the smartest telco in the world. We delivered on our financial guidance for 2019, supported by execution of the cost synergies. Completion of the Com Hem integration ahead of the original plan allows us to initiate the next phase of transformation to build growth momentum and reduce cost by at least SEK 1 billion in the next three years. The Baltics continued to deliver this quarter and we are pleased to see Estonia returning to full year growth. The fixed mobile convergence strategy in Sweden is progressing well with 219,000 customers now on FMC-offers.”

End-user service revenue of SEK 5.0 billion, flat compared to Q4 2018 on an organic basis
(not comparable to past reports due to adjusted classification of revenue in the new Sweden Segment, as previously communicated)
Revenue of SEK 7.3 billion, a decline by 1 percent compared to Q4 2018 on an organic basis
Organic growth of 10 percent in underlying EBITDA excluding IFRS 16, to SEK 2.4 billion in Q4 2019, driven by synergies from the Com Hem merger in Sweden and continued strong performance in the Baltics
Profit after financial items (EBT) was SEK 1.1 billion, increased by SEK 0.5 billion compared to Q4 2018
Net profit from total operations of SEK 0.9 billion, increased by SEK 1.3 billion compared to Q4 2018
Earnings from total operations per share after dilution was SEK 1.36, increased by SEK 2.25 compared to Q4 2018
Equity free cash flow from continuing operations of SEK 4.3 billion (SEK 4.8 billion from total operations), or approximately SEK 6 per share, for the full year 2019 increased by SEK 2.3 billion compared to 2018, driven by the Com Hem merger and strong underlying cash generation
Full-year 2019 results in-line with guidance
Financial guidance for the mid-term reiterated and 2020 guidance for capex excluding spectrum and leases updated to SEK 2.5-3.0 billion
SEK 800 million out of total SEK 900 million cost savings from Com Hem integration completed and new three-year business transformation program launched, expected to build growth momentum and generate at least SEK 1 billion of opex savings
Tele2’s Board of Directors proposes an ordinary dividend of SEK 5.50 per share, paid in two tranches, a 25 percent increase from the previous year. In addition, the Board proposes an extraordinary dividend of SEK 3.50 per share.

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Posted By : TelecomGuru on Wed, 05 Feb 2020
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