Telecom operator Telia has released its financial performance – revenue, profit, Capex, subscriber growth and Opex during January–March 2024.
Telia said its revenue decreased 2 percent to SEK 21,274 million.
Telia’s service revenue rose 1.5 percent to SEK 18,634 million.
Adjusted EBITDA of Telia increased 3.4 percent to SEK 7,144 million.
Telia has posted operating income of SEK 2,284 million and net income of SEK 757 million.
In Q1 2024, Cash Capex decreased to SEK 3,367 million (4,157).
Telia said there will be no change in its outlook for 2024. Capex, excluding fees for licenses, spectrum and right of use assets, is estimated to be around SEK 14 billion in 2024.
Telia has completed the sale of the operations and network assets in Denmark to Norlys at an enterprise value of DKK 6.25 billion.
“Operational momentum continued in the first quarter, with growth in all telco businesses and progress in the TV and Media turnaround. NPS and service revenue trends in the consumer segment have been encouraging,” Telia CEO Patrik Hofbauer said.
Sweden
In Sweden, Telia’s revenue drop of 2 percent to SEK 8,798 million was driven by fixed service revenue. Telia’s TV business has enabled pricing opportunities in the past 12 months, while mobile was stable. Service revenue grew 5 percent thanks to its efforts to improve customer service. It achieved a new record low in incoming contacts for B2C in March, 40 percent lower level versus three years ago, following improvements in operational efficiency, IT infrastructure and customer experience. Capex at Telia Sweden remained unchanged at SEK 1,026 million (1,026).
Finland
In Finland, Telia posted 1.2 percent drop in revenue to SEK 3,910 million. Telia Finland reported a steady service revenue growth at around 2 percent thanks to improvement in mobile consumer customer satisfaction and a mobile consumer ARPU increase of 12 percent, as well as nearly 20 percent revenue growth in data center business in Helsinki.
Telia Finland’s Capex decreased 33.4 percent to SEK 332 million (498). Telia Finland announced plans for a programmable 5G network, implemented first in Telia’s partly EU-funded Sirius project, as well as launched a cooperation with Danfoss around optimization of energy solutions for landlords and housing associations.
Norway
In Norway, Telia’s revenue dropped 4.1 percent to SEK 3,608 million. Telia Norways’ service revenue rose 2 percent, driven both by higher consumer ARPU and strong growth in mobile wholesale business.
Telia Norway’s Capex decreased 18.0 percent to SEK 532 million (648). Following Telia last year modernizing an average of 23 base stations every week with 5G technology and even better 4G, almost 40 percent of data traffic now goes over 5G.
Lithuania
Telia Lithuania revenue rose 1.1 percent to SEK 1,337 million. In Lithuania, Telia reported a healthy mid-single digit growth in service revenue, driven mainly by mobile subscriber and ARPU growth. Telia launched self-service customer apps to drive customer experience, monetization and lower cost to serve. Fixed-line revenue grew driven by broadband and business solutions. Capex of Telia Lithuania increased 5.5 percent to SEK 185 million (175).
Estonia
Telia Estonia revenue grew 0.3 percent to SEK 984 million as a result of the timing of price changes. Telia launched a 26Ghz 5G FWA service offering fiber like experience via the mobile network. Telia also won the local tender to provide connectivity, devices and security for the European Union parliamentary election. Capex of Telia Estonia decreased 1.1 percent to SEK 84 million (84).
Telia’s TV and Media saw a decline in advertising revenue of 6.3 percent due to weak market conditions. Telia achieved a 5.2 percent growth in pay TV revenue.
Baburajan Kizhakedath
