Sweden-based telecoms provider Telia Company has posted its Q1 2018 financial results and has reported a net loss of SEK600 million (USD71.4 million) for the three months ended 31 March 2018. This figure is a dramatic change from the year-ago net profit of SEK7.1 billion recorded in Q1 2017 and the sharp decrease is attributed to the divestment of its Eurasian operations Azercell and Geocell, and an impairment charge related to Ucell. Net sales in Q1 2018 stood at SEK19.9 billion, a 3.2% increase on the year-ago figure of SEK19.2 billion, while service revenues in local currencies, excluding acquisitions and disposals, decreased 0.9% year-on year. Telia posted strong EBITDA growth of 7.4% in Q1 2018 to stand at SEK6.5 billion compared with SEK6.0 billion in first quarter of 2017.
In operational terms Telia Company reported a total of 16.670 million mobile subscribers in Q1 2018, an increase of 0.7% from the year-ago figure of 16.547 million. Telia Company group broadband subscriptions decreased slightly from 2.542 million in Q1 2017 to 2.495 million by 31 March 2018, while fixed telephony PSTN and VoIP subscribers continued to decrease to stand at 2.084 million in Q1 2018 from 2.479 million a year earlier, reflecting the global downward trend in fixed telephony subscribers.