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Tele2 AB Q1 Net Profit Surges

Tele2 AB (TLTZF.PK,TLTZY.PK) reported that its net profit attributable to equity holders of the parent company for the first quarter 2019 surged to 968 million Swedish kronor or 1.40 kronor per share from 343 million kronor or 0.68 kronor per share in the prior year.

Quarterly revenue increased to 7.22 billion kronor from 5.43 billion kronor last year.

For the financial year 2018, the Board of Directors of Tele2 AB has decided to recommend to the Annual General Meeting on 6 May 2019 that an ordinary dividend of 4.40 kronor be paid per ordinary A and B share, in two equal tranches.

The company said it is on track to reach full year guidance with flat end-user service revenue and strong growth in underlying EBITDA excluding IFRS 16. This is largely driven by the integration and cost restructuring process which is well under way.

For 2019, the company expects mid-single digit growth of underlying EBITDA excluding IFRS 16.

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