Sweden’s Tele2 gives further dividend as first quarter revenue beats expectations, Telecom Information, ET Telecom

STOCKHOLM: Swedish telecoms operator Tele2 on Thursday introduced core quarterly earnings above market expectations and provided a unprecedented dividend of three kroner per share.

Tele2, which has caught to its monetary forecast, stated that whereas the pandemic continues, the longer term is now extra predictable, permitting it to distribute extra to shareholders.

“Over the subsequent few quarters, we’ll refocus our consideration on progress and execute the mandatory initiatives that can guarantee success in a post-pandemic world,” CEO Kjell Johnsen stated in a press release.

The corporate, rival of Telia in Sweden and Telenor in Norway, stated it nonetheless expects at the very least Kroner 1 billion in financial savings by the top of 2022.

Adjusted first quarter revenue earlier than curiosity, taxes, depreciation and amortization (EBITDA) was 2.63 billion crowns ($ 312.9 million) in comparison with 2.50 billion crowns within the earlier yr quarter and a forecast common of two.51 billion, in accordance with knowledge from Refinitiv.

Tele2 expects kind of steady end-user companies income this yr and adjusted working revenue (EBITDAaL) progress of two% to 4% from 2020, assuming worldwide roaming at an identical stage.

He additionally maintained his medium-term monetary outlook, including that he projected capital spending, excluding spectrum and leases, of SEK 2.8 billion to SEK 3.3 billion this yr, together with the rollout of 5G throughout all. its markets.

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