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Tele2AB Drops In Q2 Earnings


Tele2AB Drops In Q2 Earnings

Tele2AB, the European telecommunications operator, has registered net sales of SEK 6,668 million (6.68 billion kronor), 1% up from the 6.61 billion it made the previous year, announced the company.


The data show that the operator has reported a net loss of 60 million Swedish kronor, compared to net income of 309 million kronor it made a year ago. Its recent Netherlands investment is the reason cited for this loss.

Commenting on the results, Allison Kirkby, CEO, Tele2AB said, “Our Value Champion strategy, combined with a relentless focus on offering the best wireless technologies with a challenger cost structure, will lead us to sustainable value creation for our customers, employees, and our shareholders.”

Other specifications in the interim report showed that the profit dropped to 116 million kronor from 463 million kronor last year, mainly due to lower EBITDA of SEK 1,087 million in the second quarter.

Tele2AB had reported good equipment sales in Netherlands and Croatia. It also marked a strong growth of mobile end-user service revenue in Kazakhstan.

Ria Lakshman. V is a lead news writer at The Telecom Times. She studied Journalism at Manipal School of Communication and proceeded to work in newspapers and magazines, with technology as her focus area. Passionate about Telecommunications sector, her move to 'The Telecom Times' was a natural choice. Alongside, she also writes for Telecom Talk, where she covers news and tech commentaries in the sector of telecom. In the free time, Ria loves to go camping, read books, or sketch illustrations. She also runs a local design studio and promotes eco-friendly crafts. Ria can be found sharing her knowledge and insights on Twitter.



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