Telia braces for $2B impairment hit - Mobile World Live

Telia braces for $2B impairment hit

20 JAN 2023

Operator group Telia warned it would take a series of non-cash impairments totalling SEK19.8 billion ($1.9 billion) in its upcoming Q4 2022 results, following a sweeping review of its assets.

Telia stated SEK9.5 billion of the charges related to goodwill impairments at its Finland business, with SEK8.5 billion from Norway and SEK1.1 billion across its Denmark and Latvia units.

These charges follow “a review of the carrying value of Telia Company’s assets and reflecting the changed macroeconomic landscape and increase in the company’s Weighted Average Cost of Capital from increased market interest rates”.

Along with those write-downs, Telia is also set for an SEK300 million value hit from changes in TV brand C More and SEK400 million from a decision to dismantle its copper network in Sweden by 2026.

Telia is set to release its Q4 2022 and full year results, alongside detailing progress to its strategy, on 26 January.

In October 2022 the company’s CEO Allison Kirkby blamed the impact of high electricity costs and interest rates for Telia cutting its earnings outlook for 2022 and 2023.



Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

Read more