Tele2 Sees 13% Rise in Q1 EBITDA to Just Under $300 Million
Tele2 has reported a 9% rise in first quarter operating revenues to SEK10.4 billion (US$1.77 billion) and a 13% rise in EBITDA to SEK1.76 billion (US$298 million). Net profit amounted to SEK750 (US$127.9 million) million, up from SEK301 (US$51.3 million) a year earlier. Tele2's net debt amounted to SEK4.94 billion (US$842 million), a decrease of 69 percent
Lars-Johan Jarnheimer, President and CEO of Tele2 said "The hard work of the realignment process continues to show result, providing us more space to maneuver. The environment for corporate transactions is affected by the current credit turmoil. Nevertheless, we are certain that our dedication, focus and concentration will show results. Hence, we feel assured that the realignment process will develop according to plan."
"Our mobile operations in Russia continue to impress. We are - step by step - reaching our communicated goals regarding this market area. New challenges lie ahead with the build-out based on the new licences that Tele2 was awarded in 2007."
"We will make a strong push in our Russian business, and plan to double the number of regions in the coming years. This will increase the population under Tele2 coverage by 50 percent in Russia. It is a truly demanding task, and if successful, will result in great rewards."
Posted to the site on 23rd April 2008