FX.co ★ Telia Company Q3 Profit From Cont. Ops. Rises - Quick Facts

Telia Company (symbols: 0H6X.L, TLSNY.PK) announced a rise in its net income from continuing operations for the third quarter, reaching 2.5 billion Swedish kronor, up from 1.8 billion kronor in the previous year. Earnings per share from continuing operations increased to 0.59 kronor, compared to 0.41 kronor previously. The company's adjusted EBITDA slightly improved to 8.47 billion kronor from last year's 8.46 billion kronor, showing a 1.7% increase on a like-for-like basis.

For the third quarter, Telia recorded revenue of 21.75 billion Swedish kronor, down slightly from 21.95 billion kronor. Nevertheless, revenue, when assessed on a like-for-like basis, saw a 0.9% increase, while service revenue increased by 1.2% on a like-for-like basis.

The company has revised its full-year EBITDA guidance for 2024, anticipating mid-single-digit growth. Capital expenditures (CAPEX) are projected to remain below 14 billion Swedish kronor.

The CEO remarked, "The third-quarter results aligned with our expectations. We observed modest growth in both service revenue and EBITDA compared to our robust third quarter last year. Notably, mobile service revenue growth across all markets exceeded the decline in our fixed legacy revenue, and we achieved improved customer satisfaction."

Telia indicated that its Change program is advancing as planned, with the objective to establish a new organizational structure by December 1. This restructuring aims to streamline operations by reducing 3,000 positions and minimizing organizational complexities.