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Tele2 Q3 Profit Down, Sees Roughly Flat Underlying EBITDAaL In FY20, Growth In Mid Term

Swedish telecom operator Tele2 AB (TLTZF.PK,TLTZY.PK) reported Tuesday that its third-quarter net profit from total operations was 1.22 billion Swiss kronor or 1.76 kronor per share, higher than last year's 1.04 billion kronor or 1.50 kronor per share.

Underlying EBITDAaL, a key earnings metric, grew 2 percent organically from last year to 2.51 billion kronor, despite the pandemic impact, driven by strong performance in the Baltics and cost savings.

Revenue was 6.6 billion kronor, lower than last year's 6.85 billion kronor. Revenues declined 3 percent on an organic basis. End-user service revenue was 4.9 billion kronor, a decline by 2 percent organically, mainly due to negative impact from the pandemic.

Looking ahead, Tele2 expects roughly flat underlying EBITDAaL in constant currencies in fiscal 2020.

Further, for mid-term, the company projects low single-digit growth of end-user service revenue and mid-single-digit growth of underlying EBITDAaL.

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