Telia: second-quarter earnings show resilience
(CercleFinance.com) - Swedish telecom operator said its second quarter results were better than it expected, helped by cost cuts, even though the figures were still clearly impacted by the Covid-19 pandemic.
Second-quarter adjusted EBITDA increased by 3.6% to 7.7 billion Swedish kronor, the company said. Net sales rose 2.7% to 21.7 billion Swedish kronor, although like-for-like sales fell by 5.9%, it said.
Despite this better-than-expected second quarter, Telia said that it is facing "tougher comps" in the second half of the year, with impacts from the pandemic still remaining.
It therefore expects adjusted EBITDA for the second half of the year to be at the same level as profit reported in the first half.
In the meantime, its management team reshuffle continues, with Per Christian Morland appointed CFO and Rainer Deutschmann COO.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Second-quarter adjusted EBITDA increased by 3.6% to 7.7 billion Swedish kronor, the company said. Net sales rose 2.7% to 21.7 billion Swedish kronor, although like-for-like sales fell by 5.9%, it said.
Despite this better-than-expected second quarter, Telia said that it is facing "tougher comps" in the second half of the year, with impacts from the pandemic still remaining.
It therefore expects adjusted EBITDA for the second half of the year to be at the same level as profit reported in the first half.
In the meantime, its management team reshuffle continues, with Per Christian Morland appointed CFO and Rainer Deutschmann COO.
Copyright (c) 2020 CercleFinance.com. All rights reserved.