Telia Company Q1 2017 revenues down 5.6% year-on-year

26 Apr 2017

Sweden-based multi-national telecommunications operator Telia Company has reported a 5.6% year-on-year decrease in net sales in the three months ended 31 March 2017, with revenues of SEK19.252 billion (USD2.181 billion) for the quarter. EBITDA was also down 1.1% in the same period, from SEK6.217 billion in Q1 2016 to SEK6.149 billion one year on. In the first quarter of 2017 net income increased to SEK7.143 billion from SEK3.911 billion in the year-ago period, representing an increase of 82.6%. This increase is largely attributed to a reduction in the provision for the expected settlement with US and Dutch authorities over Telia’s operations in Uzbekistan. The firm’s CAPEX also dropped 2.5% in the first quarter of 2017 to SEK2.988 billion.

In operational terms Telia Company recorded a total of 16.515 million mobile subscribers across all its regions in Q1 2017 down from 19.745 million one year previously. During the first quarter of 2017 the group completed its rebranding of its Finnish and Lithuanian operations, meaning that its six wholly owned subsidiaries now operate under the one brand of Telia.

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