Tele2 Group president and CEO Kjell Johnsen voiced confidence the company could meet mid-term earnings goals and continue expanding 5G across its footprint, despite ongoing geopolitical and global economic issues.
In Tele2’s Q2 earnings statement, Johnsen noted the company was partly hedged against the challenging operating environment of high energy prices and inflation being experienced across many sectors.
He added it was also benefitting from improvements already made to its business, with the group in the process of undertaking a three-year transformation plan.
Johnsen noted all of its major business lines were “getting into growth territory” and its various operations in the Baltics had continued to navigate an operating environment with major uncertainties.
“The war in Ukraine impacts life everywhere, but becomes very prominent in the Baltics due to geographical proximity and the major influence of energy prices in the economy,” he added, praising its staff response in the region.
Looking to the rest of the year, the executive warned supply chain issues may have an impact on the pace of 5G rollouts, but expected it to continue to progress well towards its various coverage goals.
For Q2, Tele2 reported a 3 per cent year-on-year increase in revenue to SEK4.9 billion ($477.8 million).
Net profit fell to SEK847 million from SEK1.4 billion, attributed to a one off transaction in the equivalent quarter of 2021 and costs related to previously-divested operations.Subscribe to our daily newsletter Back