Swedish telecommunications firm TeliaSonera AB (TLSNY.PK,0H6X.L) reported Wednesday a 10 percent increase in profit for its second quarter, helped by Eurasia business area. The company also updated its 2012 outlook.
The company now expects net sales growth in local currencies and excluding acquisitions within the range of 0-1 percent, compared to the prior outlook of 1-2 percent.
EBITDA margin, excluding non-recurring items, is expected to be around 35 percent. For the full year 2011, net sales were 104.35 billion kronor and EBITDA margin was 35.4 percent.
Lars Nyberg, president and CEO of the company said, "Revenues in local currencies in the second quarter were largely unchanged compared to the same quarter a year ago. While trends within Broadband Services and Eurasia have been broadly stable, Mobility Services experienced a slower growth in service revenues and equipment sales."
Net sales, in reported currency, improved 1.1 percent to 26.29 billion kronor, with a positive effect of exchange rate fluctuations of 1.0 percent. Net sales in local currencies and excluding acquisitions remained unchanged from last year, the company added.
In Eurasia, net sales in local currencies and excluding acquisitions increased 12.2 percent and net sales in reported currency increased 18.9 percent. Business area Eurasia comprises mobile operations in Kazakhstan, Azerbaijan, Uzbekistan, Tajikistan, Georgia, Moldova and Nepal.
In the second quarter, net income attributable to owners of the parent increased to 4.25 billion Swedish kronor or 0.98 kronor per share from 3.86 billion kronor or 0.89 kronor per share reported last year.
The company said its recent-quarter net income included a net capital gain of 3.01 billion kronor from MegaFon and impairment charges of 3.07 billion kronor within Mobility Services.
EBITDA, excluding non-recurring items, decreased 2 percent in reported currency to 9 billion kronor and the margin declined to 34.3 percent from 35.3 percent a year ago.
During the quarter, the number of subscriptions increased by 1.4 million in consolidated companies and by 0.8 million in the associated companies. The total number of subscriptions was 174.6 million.
In Stockholm, TeliaSonera shares are currently trading at 44.12 kronor, down 2.78 percent, on a volume of 6.74 million shares.
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