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    TELIA   SE0000667925

TELIA COMPANY AB (PUBL)

(TELIA)
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Telia : Swung to 2Q Net Loss on Coronavirus Hit, Write-Down

07/17/2020 | 01:43am EDT

By Adria Calatayud

Telia Co. AB said Friday that it swung to a net loss for the second quarter of 2020, hit by the coronavirus pandemic and a write-down from the sale of its stake in Turkcell Holding, but beat expectations for sales and adjusted earnings.

The Swedish telecommunications company said its TV and media operations had a challenging quarter mainly due to the pandemic. It expects to continue to experience coronavirus impacts in the second half of the year. This, combined with tougher year-earlier comparatives, led the company to guide for a second-half adjusted earnings before interest, taxes, depreciation and amortization result similar to that of the first half.

For the April-June quarter, Telia reported a net loss of 2.05 billion Swedish kronor ($225.6 million) compared with net profit of SEK1.60 billion in the year-earlier period. This included an impairment charge of SEK3.49 billion following the company's recent exit from Turkey.

Sales rose 2.7% to SEK21.77 billion, the company said.

Adjusted earnings before interest, taxes, depreciation and amortization--the company's preferred metric, which strips out exceptional and other one-off items--increased 3.6% to SEK7.74 billion, Telia said.

Analysts polled by FactSet had forecast an adjusted Ebitda of SEK7.10 billion on sales of SEK21.52 billion.

The company reiterated its previous guidance for operational free cash flow to be between SEK9.5 billion and SEK10.5 billion.

Telia President and Chief Executive Allison Kirkby said management will go through the cost base forensically to seek further efficiencies, apply a rigorous approach to capital allocation and invest further where this enhances customer proposition and reach.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

Stocks mentioned in the article
ChangeLast1st jan.
TELIA COMPANY AB (PUBL) -0.59% 37.035 Delayed Quote.9.05%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.00% 8.7257 Delayed Quote.17.35%
All news about TELIA COMPANY AB (PUBL)
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More news
Financials
Sales 2021 86 304 M 10 029 M 10 029 M
Net income 2021 8 546 M 993 M 993 M
Net Debt 2021 75 229 M 8 742 M 8 742 M
P/E ratio 2021 16,6x
Yield 2021 5,44%
Capitalization 151 B 17 540 M 17 600 M
EV / Sales 2021 2,63x
EV / Sales 2022 2,62x
Nbr of Employees 20 628
Free-Float 60,5%
Chart TELIA COMPANY AB (PUBL)
Duration : Period :
Telia Company AB (publ) Technical Analysis Chart | TELIA | SE0000667925 | MarketScreener
Technical analysis trends TELIA COMPANY AB (PUBL)
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 37,33 SEK
Last Close Price 37,04 SEK
Spread / Highest target 29,6%
Spread / Average Target 0,78%
Spread / Lowest Target -20,3%
EPS Revisions
Managers and Directors
NameTitle
Allison Kirkby President & Chief Executive Officer
Per Christian Mørland Chief Financial Officer & Executive Vice President
Bert Lars-Johan Jarnheimer Chairman
Rainer Deutschmann Group Chief Operating Officer & Senior VP
Mikael Karlsson Chief Ethics & Compliance Officer
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