• Sweden edition
 
TeliaSonera posts solid quarterly results

TeliaSonera posts solid quarterly results

Published: 24 Jul 2008 12:54 GMT+02:00
Updated: 24 Jul 2008 12:54 GMT+02:00

"The overall market trends were essentially unchanged and we reported a satisfactory set of numbers for the second quarter," TeliaSonera chief executive Lars Nyberg said in the earnings statement.

For the April to June period, the company posted a 7.8-percent jump in net profits to 4.1 billion kronor ($684 million) compared to the year-ago figure.

In the same quarter, TeliaSonera's operating profit rose by 17.6 percent to 6.8 billion kronor while its earnings before interest, taxes, depreciation, and amortization, or EBITDA, grew 6.4 percent to eight billion kronor.

Net sales jumped 5.7 percent year-on-year to 25.3 billion kronor, while the company's margins inched up to 31.6 percent from 31.4 percent a year earlier.

"For the first time in more than a year, we managed to increase our margins," Nyberg said.

In the Euroasian region alone, TeliaSonera's sales skyrocketed 16.6 percent, largely due to acquisitions it completed in Uzbekistan and Tajikistan, TeliaSonera said in its earnings statement.

The results nonetheless slightly missed analysts' expectations of a net profit of 4.43 billion kronor and of sales of 25.59 billion, according to a poll conducted by the Dow Jones financial news agency.

At the end of June, TeliaSonera said it had 122.9 million customers, a 19.3 percent increase from a year earlier and up from 119.3 million at the end of March.

The group also stood by its previous outlook, reiterating that its "ambition for 2008 is to maintain the EBITDA margin level of 2007 (32.2 percent), excluding non-recurring items."

It also said it expected its full-year net profit to be "somewhat higher that in 2007."

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, two thirds of which will be accounted for this year.

TeliaSonera is also focusing on activities abroad to compensate for a slowdown on its domestic market.

"TeliaSonera is a strong business, based on leading market positions in the Nordic and Baltic countries. We are also very well positioned in several emerging markets with high growth potential," Nyberg said, adding that his company was continuing "to look for new investment opportunities."

The company's strong position sparked the interest of France Telecom earlier this year, but TeliaSonera, whose main shareholders are the Swedish and Finnish states, shot down the French telecom giant's friendly offer to buy it for about €33 billion ($52 billion).

Following its report, TeliaSonera saw its stock price jump 3.28 percent to 44.10 kronor a share in midday trading on the Stockholm stock exchange, which on average slumped 1.28 percent.

Today's headlines
Science
Swedish women in two-year sex pill study
Contraceptive pills have been linked to mood swings. Photo: Shutterstock

Swedish women in two-year sex pill study

Three hundred women from across Sweden are taking part in a study designed to demonstrate that modern contraceptive pills don't lead to decreased libido or mood swings. READ  

National
Stockholm 'sinking' oil spill ship safe
The ship was rescued on Thursday. Photo: Swedish Coast Guard

Stockholm 'sinking' oil spill ship safe

After fears a ship carrying around 52 tonnes of oil could sink in Stockholm's archipelago, Sweden's Coast Guard said the vessel had been towed to safety. READ  

National
Dog attack policewoman acquitted on appeal
A scene from a video of the attack published by Dagens Nyheter

Dog attack policewoman acquitted on appeal

A policewoman accused of letting her dog attack a drunk man while she repeatedly hit him with a baton, has had her conviction overturned by a court in Stockholm. READ  

Entertainment
What's On: October 31st - November 7th
Uma Thurman will soon be on her way to Stockholm. Photo: TT

What's On: October 31st - November 7th

Halloween fun and an international film festival are the big events hitting Stockholm this week. We cast our eye over the capital and the rest of the country for the best activities to check out this week. READ  

International
Pirate Bay Swede found guilty in Denmark
Gottrid Svartholm Warg. File photo: TT

Pirate Bay Swede found guilty in Denmark

Sweden's Pirate Bay Founder Gottrid Svartholm Warg was found guilty of hacking crimes in a Danish court on Thursday. READ  

National
Malmö loses out as rare toads move in
The European green toad. Photo: H. Krisp (WikiCommons)

Malmö loses out as rare toads move in

After a rare species of toad moved into southern Sweden's Malmö, builders have had to tone down massive expansion plans in the area. READ  

Politics
Palestine recognized as state by Sweden
Sweden's Foreign Minister is Margot Wallström. Photo: TT

Palestine recognized as state by Sweden

The Swedish government has officially decided to recognize Palestine, with the move announced in a speech by the country's new Foreign Minister Margot Wallström. READ  

Interview
Stockholm's shocking take on Halloween
For ten days, Globen is transformed into a giant pumpkin. Photo: Shockholm

Stockholm's shocking take on Halloween

American Bill Schacht missed the spooky outfits, family feasts and charity events he associated with Halloween when he moved to Sweden. So he did something about it. The Local meets the founder of the capital's annual Shockholm parade. READ  

Business & Money
Huge losses for energy giant Vattenfall
A Vattenfall plant in Germany. Photo: TT

Huge losses for energy giant Vattenfall

Swedish energy company Vattenfall has reported losses for the third quarter in a row. READ  

International
Malala donates prize winnings to Gaza
Malala receives the Children's Prize from Queen Silvia. Photo: TT

Malala donates prize winnings to Gaza

UPDATED: Girls' rights champion Malala Yousafzai, who was in Sweden to accept the World's Children's Prize on Wednesday, said she would use all her winnings to help rebuild schools in war-ravaged Gaza. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Business & Money
Get your own office in Gothenburg or Stockholm - free for a day
Gallery
People-watching: October 30th
National
Sweden remains fourth best for gender equality
National
Timeline: Julian Assange sex allegations
Sport
World Cup ski race on 'fake' Stockholm slope
Blog updates

29 October

Scariest day (Blogweiser) »

"This is what’s frightening me on Halloween. http://www.youtube.com/watch?v=D4OFZVCu8J0&list=UUJu5J7jG4uoYSjWbpFsJBuQ Follow my posts on FB. ..." READ »

 

24 October

Editor’s blog, October 24th (The Local Sweden) »

"Hi readers, Get ready to read our weekly digest of Swedish news in less than 60 seconds. The..." READ »

 
 
 
Society
An Arctic tradition: hunting and handicraft
Society
Stockholm taxis offer free therapy sessions
National
The Local meets Health Minister Gabriel Wikström
Gallery
Property of the week: Österåker
Society
Homeless turtles get Stockholm police ride
National
Construction worker has 'Sweden's best beard'
National
Italian musician jazzes up Sweden's Lapland
Gallery
Zlatan's career in pictures
Finest.se
Gallery
People-watching: October 25th and 26th
Lifestyle
'Swedes are funnier than they think'
National
Swedish town 'like Venice' after heavy rains
Lifestyle
What's On in Sweden: October 24th - 31st
Gallery
People-watching: October 22nd
Gallery
In Pictures: Prince Carl Philip and Sofia Hellqvist
Lifestyle
Eight things to love about renting a Swedish apartment
National
Vasa ship cannon blasted in Sweden
National
Sub hunt: Day-by-day
National
Sub hunt: Stockholm islanders share their fears with The Local
Sponsored Article
The best options for oversea transfers
National
Dentist gives free care to Roma beggars
Gallery
Property of the week: Malmö
Gallery
PHOTOS: 'Foreign activity' in Swedish waters
TT
Society
QUIZ: How good is your Swedish?
Society
The nudity... and nine other things expat men notice in Sweden
Gallery
People-watching: October 15th
Gallery
Your views: Should outdoor smoking be banned in Sweden?
Business & Money
Sweden has 'large hole' in finances
Sponsored Article
Introducing... Finding a job in Stockholm
Society
Monster salmon caught in northern Sweden
Gallery
Property of the week: Lorensberg
National
Scandinavia's child bride
National
Ebola crisis: How is Sweden preparing?
Business & Money
How Sweden is becoming a cashless society
Gallery
Stockholm Burlesque Festival 2014
National
How a little red horse became a symbol for Sweden
Gallery
People-watching: October 12th
Business & Money
The hottest start-ups from southern Sweden
National
Stockholm is 'best' region for well-being
Gallery
People-watching: October 8th
National
Five facts to know about Patrick Modiano
Sponsored Article
How to catch the first lobster of the year
Team SCA
Sponsored Article
All-female SCA team takes off on Volvo Ocean Race
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

1,005
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN