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Telia Company FY19 Profit From Cont. Ops. Declines; LFL Sales Down 3.5%

Telia Company reported that its fiscal 2019 net income from continuing operations declined 20.2 percent year-on-year to 7.60 billion Swedish kronor. Earnings per share from continuing operations was 1.77 kronor compared to 2.17 kronor. Adjusted EBITDA improved 16.9 percent to 31.02 billion kronor.

Fiscal 2019 net sales rose 2.9 percent in reported currency to 85.96 billion Swedish kronor. Net sales like for like regarding exchange rates, acquisitions and disposals, fell 3.5 percent.

Fourth-quarter adjusted EBITDA rose 18.5 percent in reported currency to 7.91 billion Kronor. Net sales in reported currency rose 2.8 percent to 22.84 billion Kronor. Net sales like for like regarding exchange rates, acquisitions and disposals, declined 2.3 percent.

For 2020, the company projects adjusted EBITDA to increase between 2-5 percent.

The board proposed a dividend of 2.45 kronor per share for 2019, equal to a 3.8 percent increase from 2018.

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