Sunday , July 25 2021

Telia does not meet expectations Gothenburg Post

Telia posted a pre-tax profit of SEK 2,511 million for the first quarter of this year. This compares with the profit of 2,940 million Swedish kronor for the same period last year.

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Average analysts have calculated a gain of SEK 2,925 million, according to a Reuters compilation.

Base profit (adjusted earnings) rose to a comparable level by 5.8%.

The management notes that the beginning of 2019 has become weak, as has already been announced.

"This is also evident from developments in the first quarter, but we see no reason to change our view that a weaker profit trend in the first half of 2019 will be followed by a stronger second half," the CEO Director Johann Dannelind.

Sales to telecom operators amounted to SEK 20,847 million, compared to SEK 19,852 million a year earlier. But on a comparable basis, revenues have fallen by three percent. Operating expenses also increased by one percent in the quarter. However, according to the interim report, the 2% reduction on an annual basis remains.

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