Tele2 Profits Jump on Currency Boost and Customer Growth

Tele2 has reported a slight increase in Q2 revenues to SEK 10.13 billion (US$1.32 billion), from SEK 9.83 billion a year ago, while net income jumped from SEK 161 million to SEK 1.14 billion (US$149 million). EBITDA increased by 17 percent to SEK 2.45 billion.

"Tough times do not last; tough companies do. Tele2 faces economic challenges in most markets. Our result in the second quarter is a reward for commitment to our core business and execution of our contingency plans.", states Harri Koponen, President and CEO of Tele2.

CAPEX amounted to SEK 1.1 billion, mainly driven by expansion in Russia.

Net customer intake amounted to 347,000 in Q2 2009. The customer intake in mobile services amounted to 524,000, of which 42,000 were mobile internet users. The intake in mobile services resulted from a solid performance in both Tele2 Russia and Tele2 Sweden.

Posted to the site on 22nd July 2009