- Telia Company AB TLSNY reported second-quarter FY21 net sales growth of 0.5% year-on-year to SEK 21.9 billion. Like for like, net sales increased 4.9%.
- The TV and Media unit, Sweden, and the Baltic operations drove the increase.
- Service revenues declined 1.3% Y/Y to SEK 18.9 billion.
- Adjusted EBITDA contracted 20 basis points to 35.3%.
- Adjusted operating margin contracted 100 basis points to 12.5%.
- Net income was SEK 8.1 billion.
- EPS was SEK 1.97.
- Telia generated SEK 6.2 billion in operating cash flow.
- It completed the divestment of Telia Carrier to Polhem Infra on June 1.
- Outlook: The company reaffirmed outlook for 2021. It expects full-year service revenues and EBITDA, excluding Telia Carrier and FX, at flat to low single-digit growth.
- Cash CAPEX is expected to be SEK 14.5 billion to SEK 15.5 billion, and cash generation sufficient to cover the minimum dividend level of SEK 2 per share.
- Price action: TLSNY shares closed at $9.07 on Tuesday.
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