Tele2 stays on track in Q1 - Mobile World Live

Tele2 stays on track in Q1

21 APR 2022

Tele2 Group president and CEO Kjell Johnsen (pictured) insisted the Sweden-headquartered operator had taken further steps towards the realisation of its 5G deployment and business transformation goals despite prevailing uncertainties in Q1.

In prepared comments, Johnsen noted challenges arising from war in Ukraine, in particular uncertainty for staff and customers in the broader Baltics region.

At the same time, he stated work on Tele2’s three-year business transformation programme “is well underway and bodes well for our ambition to be the leading telco in the Nordics and Baltics”.

The aim of the project is to cut operational expenditure in Sweden by SEK1 billion ($106.3 million). By the end of March, Tele2 had achieved savings of SEK600 million.

In terms of its 5G deployment in Sweden, Johnsen stated Tele2 had so far not been affected by semiconductor shortages or disruptions in the global supply chain. However, it is “aware of the constraints within other industries and we monitor the situation continuously”, he added.

Johnsen appeared broadly confident Q1 had brought “significant progress to Tele2’s business, despite a very complicated external environment”. He also indicated the operator remains on track to achieving its mid-term targets.

Revenue increased 2 per cent year-on-year to SEK6.7 billion on an organic basis.

The recently completed sale of Tele2’s shareholding in T-Mobile Netherlands boosted net profit by SEK1.6 billion to SEK2.5 billion. As a consequence, the board proposed an extraordinary dividend of SEK13 per share.

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Anne Morris

Anne Morris is a freelance journalist and contributes news and analysis to Mobile World Live.

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