Tele2: fourth-quarter in line with guidance, costs down
(CercleFinance.com) - Nordic telecom firm Tele2 has reported fourth-quarter earnings that are in line with guidance on Monday, mostly supported by the execution of its cost synergies.
Profit after financial items (EBT) was 1.1 billion Swedish kronor, up 500 million kronor from the fourt quarter of 2018.
Revenue reached 7.3 billion Swedish kronor, slipping 1% year-on-year on an organic basis.
Tele2 - which aims to become "the smartest telco in the world" - said it now plans to start the next phase of its transformation and reduce operating cost by at least 1 billion Swedish kronor in the next three years.
Its shares, listed on the Nasdaq Nordic market, were down 1% after this report.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Profit after financial items (EBT) was 1.1 billion Swedish kronor, up 500 million kronor from the fourt quarter of 2018.
Revenue reached 7.3 billion Swedish kronor, slipping 1% year-on-year on an organic basis.
Tele2 - which aims to become "the smartest telco in the world" - said it now plans to start the next phase of its transformation and reduce operating cost by at least 1 billion Swedish kronor in the next three years.
Its shares, listed on the Nasdaq Nordic market, were down 1% after this report.
Copyright (c) 2020 CercleFinance.com. All rights reserved.