Swedish telecom entity Tele2 has reported a Q3 net profit of SEK1.06 billion ($97.1 million), marking an increase from last year's SEK994 million and aligning with FactSet's estimates. The announcement was made on Wednesday, revealing a 3% rise in the firm's EBITDAAL to SEK2.78 billion and a 2.4% boost in revenue to SEK7.25 billion. Although this revenue figure fell slightly short of FactSet's forecast of SEK7.35 billion, it represents a positive growth trajectory for the company.
Tele2's CEO, Kjell Johnsen, emphasized the company's robust performance in the Baltics and steady progress in their 5G roll-out, despite ongoing inflationary pressures. The telecom firm managed to achieve end-user service revenue growth and cost savings during this period.
Looking ahead, Tele2 remains committed to its future targets. The company is on track to achieve low to mid-single-digit growth of end-user service revenue and maintain a capital expenditure-to-sales ratio below 14% by the end of 2023.
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