TeliaSonera beats profit expectations
Published: 25 Apr 08 12:21 CET | Print version
Online: http://www.thelocal.se/11350/20080425/
Swedish-Finnish telecommunications operator TeliaSonera, currently being eyed as a possible acquisition target by France Telecom, reported on Friday strong first-quarter results, beating analysts' expectations.
- TeliaSonera board member avoids taxes (22 Apr 13)
- TeliaSonera sales slump as market shifts to data (19 Apr 13)
- TeliaSonera CEO widens misconduct probe (4 Apr 13)
The company, which is in the midst of a restructuring process, posted a net profit of 4.99 billion kronor ($834 million) in the first quarter, up 8.9 percent, according to its earnings statement.
TeliaSonera also said its net sales rose by 7.4 percent to 24.40 billion kronor, easily beating expectations of 24.13 billion kronor, according to analysts polled by SME-Direkt.
For 2008, the Nordic operator said its outlook was unchanged and that it expected an operating margin similar to the 32.2 percent margin it posted in 2007, while its net profit would be "somewhat higher" than the 2007 number, excluding "positive one-off items."
For all of last year, the group reported a net profit of 20.29 billion kronor.
TeliaSonera, which traditionally has focused on fixed telephony, is currently restructuring with large investments in IP and mobile telephony services, as well as a string of cost-cutting measures set to be carried out by the end of 2009.
The company hopes to reduce annual costs by around five billion kronor compared to its 2007 level.
The restructuring process, which includes some 2,900 job cuts across Sweden and Finland, is meanwhile expected to cost around four billion kronor.
Ericsson probed over suspected bribes
Swedish telecom equipment maker Ericsson is suspected of having bribed ministers in Romania in connection with being awarded a contract for the country's emergency number and is now under investigation in the United States. READ () »
Warning over 'long-term' Swedish export slump
Sweden's largest business confederation has gone out guns blazing, criticizing politicians for not facing up to the challenges of "a lost year for Swedish exports" in 2012. READ () »
'Lean hospital a sign of Swedish welfare reform'
A Stockholm hospital saved from closure by private health care providers has been hailed by the Economist as one of modern's Sweden public-private success stories. READ () »
H&M mulls production in South America and Africa
Swedish clothing giant H&M is looking into the possibility of sourcing its production to South America, Central America, and even Africa, chief executive Karl-Johan Persson said on Monday. READ () »
Nord Stream plans new gas pipelines
Gas pipeline firm Nord Stream will hold an information meeting on the Baltic island of Gotland on Monday to introduce a proposal to extend its controversial gas pipeline project. READ () »
'Sweden next in line for housing market crash'
Sweden tops a list of countries that risk suffering a housing market crash, Germany's Commerzbank has warned, citing the slackening off of Swedish property prices as a harbinger of a potential downswing. READ () »
Solna voted best place to live in Sweden
Solna, a suburb just north of Stockholm, is the best place to live in Sweden, according to a new ranking published on Friday by Swedish news magazine Fokus. READ () »
Ikea founder rated fifth richest in the world
Ingrad Kamprad, the founder of Swedish furniture giant Ikea, finished fifth on the Bloomberg Billionaires Index published on Friday, with an estimated fortune of $55.6 billion. READ () »
LinkedIn profile lands Swede with hefty tax bill
A Swedish man is facing a five-million kronor ($750,000) add-on to his tax bill after the authorities took a proper look at his account on the professional networking site LinkedIn. READ () »
India in no rush to open first Ikea store
The first Ikea store to open in India may not be ready for years, with the India head of the Swedish furniture giant prepared to wait until the the perfect location is found for the first of the 25 planned stores. READ () »
- 15/05 Sweden plummets in income equality ranking »
- 15/05 Pensioners to recruit ageing Swedish rockers »
- 15/05 Swedish shop hits back: our Converse are real »
- 15/05 Young Swedes forced to live with mum and dad »
- 14/05 Converse in bid to ban 'fake' shoes in Sweden »
- 13/05 Nordea tracked clients in secret 'black book' »
- 10/05 ABB executive to quit after five-year tenure »
- 10/05 Borg defends critique of strong Swedish krona »
- 08/05 EU green lights Volvo and Dongfeng merger »
- 08/05 Sweden sells toxic Baltic salmon to EU: report »
| 22/05 | Accounting ManagerMichael Page | Göteborg |
| 22/05 | Accounting ManagerMichael Page | Göteborg, VTG |
| 22/05 | Architectural Engineer #8409Aker Advantage | Stockholm |
| 22/05 | Controller Tele2 Group ProductTele2 | Kista |
| 22/05 | Head of Product Control - If IndustrialIF skadeförsäkring | Stockholm, Nordic |
| 22/05 | Internship - ResearcherEricsson | Stockholm |
| 22/05 | Manager project management officeAker Advantage | Stavanger |
| 22/05 | Purchasing ControllerHuman Capital | Stockholm |
| 22/05 | Risk & Compliance ManagerHuman Capital | Stockholm |
| 21/05 | .Net Software ArchitectsVolvo Information Technology AB | Göteborg, VTG |
- 21/05 Car boss asks Merkel to rethink CO2 pledge »
- 21/05 SAP to hire hundreds of autistic IT experts »
- 18/05 Economists warn against German euro exit »
- 17/05 Germany cool to France's EU economy plan »
- 17/05 Au pairs rules relax for non-German families »
- 16/05 Germany refuses to slam French economic policy »
- 16/05 Capri-Sun drink wins false advertising award »
- 15/05 Anaemic economy feels winter chill »
- 15/05 ThyssenKrupp bins 3,000 admin jobs »
- 15/05 Pay deal for metal workers averts strike »
- 10:55 Husby Riots and violence against the police...
- 10:12 Labor/Swedish Laws regarding Forced Vacations
- 09:24 Your favorite place
- 09:08 Favorite mobile phone
- 09:02 Unlocking mobile phones
- 08:21 My scary encounter with Swedbank.
- 07:18 Salary expectations for managing a busy bar?
- 05:51 Relocation to Stockholm
- 22:18 90% of male population gay?
- 21:34 Job prospects for British GP/family doctor
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Create an account with Banc De Binary, the world’s most reputable binary options firm, and start cashing in today! You can start by practicing with our free $50,000 demo account.
www.bbinary.com
Expat counsellor & talk therapist offers counselling for stress, relationship issues, sexuality, culture adjustment & life coaching. Private & confidential. Stockholm or Skype. Contact me today! 08-559 22 636 or
CLICK HERE
