Guidance reiterated (Il Sole 24 Ore Radiocor) - Stockholm, 18 Apr - The Swedish telecommunications group Tele2 said that in the first quarter its net profit slipped to 833 million crowns from 849 million a year earlier and earnings per share dropped to 1.20 crowns from 1.23 crowns.

End-user service revenue increased by 4% organically to 5.3 billion crowns and total revenue rose 2% to 7.2 billion.

Underlying EBITDAaL increased by 2% organically to 2.6 billion crowns.

The full year 2024 guidance and mid-term outlook was reiterated.

'I am pleased to say that we are off to a good start in 2024.

Having built momentum in our Swedish business in 2023, we now see continued growth while maintaining high pace in our 5G roll-out and digital transformation efforts. Performance in the Baltics is also good, primarily led by a strong performance in Lithuania. The Tele2 model of unique capital efficiency continues to provide strong cash flows and low leverage even while executing significant upgrades of our technical capabilities,' said Kjell Johnsen, the president and CEO of Tele2.

'Moving into Q2, we are cautiously optimistic that consumer sentiment in our operations will gradually improve as we see reduced inflation and lower interest rates in our markets.

These improvements should be supportive for the economy overall and our business over the next quarters.'.

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(RADIOCOR) 18-04-24 13:08:40 (0378) 5 NNNN