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TeliaSonera Profits Jump by a Third on One-Off Gains
Published on:
TeliaSonera has reported that its fourth-quarter revenues declined slightly, by 0.7 percent to SEK27.1 billion, while net profits rose by over a third to SEK6.9 billion.
The profits were boosted by one-off gains from the stock market listings of MegaFon and Kcell, both of which TeliaSonera held stakes in.
During the quarter the number of subscriptions grew by 1.7 million in the consolidated operations and by 2.3 million in the associated companies. The total number of subscriptions was 183 million.
Lars Nyberg, President and CEO commented: "During 2012, we delivered the second highest net earnings since the merger between Telia and Sonera in 2002. Albeit some was attributable to positive one-off items, we kept a healthy balance between growth in net sales and costs."
However, as part of a previously announce cost-cutting measure, during the remainder of this year, 1,800 employees in the Nordics and Baltics will be made redundant and the total cost for these reductions is estimated to SEK 1.7 billion.
Looking ahead, the company said that it believe revenues in local currencies in 2013 will be at the same level as last year and the EBITDA margin, excluding non-recurring items, to increase somewhat.
Tags: [teliasonera] [Sweden]
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