Swedish telecommunications firm TeliaSonera AB (TLSNY.PK) on Thursday reported that its first-quarter net profit declined from last year, despite higher net sales.
For its first quarter, net income attributable to owners of the parent company decreased 15.9 percent to 3.91 billion Swedish kroner from last year's 4.65 billion kroner, and earnings per share fell 13% to 0.90 kroner from 1.04 kroner a year ago.
Net sales grew 3.5 percent to 25.69 billion kroner, while the growth was 2.9% in local currencies and excluding acquisitions.
President and CEO Lars Nyberg said, "The organic growth rate improved in the first quarter compared with previous quarters. Eurasia continued to deliver double-digit growth, while revenues in Broadband Services were almost at the same level as last year. In Mobility Services, the growth was mainly driven by equipment sales."
EBITDA, excluding non-recurring items, edged down 0.7% and the margin decreased to 34.3 percent from 35.8 percent last year.
Looking ahead, the company reiterated the outlook for 2012. The growth in net sales in local currencies and excluding acquisitions is expected to be within the range of 1-2 percent.
The company also projects adjusted EBITDA margin at the same level as last year.
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by RTT Staff Writer
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