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Telia Co. Posts Profit In Q2

Swedish telecom company Telia Co. AB (0H6X.L,TLSNY.PK) Wednesday reported a huge profit for the second quarter, reflecting a capital gain from Telia Carrier, with a modest 0.5 percent growth in net sales. The Group also reiterated its service revenues and EBITDA growth outlook for 2021.

For the second quarter, the Group posted total income of 8.10 billion Swedish kronor, compared to last year's total loss of 2.03 billion Kronor. The results mainly included a capital gain from Telia Carrier, while last year's reflected an impairment of Turkcell Holding.

Adjusted EBITDA for the quarter slid by 0.1 percent to 7.731 billion kronor, while like-for-like adjusted EBITDA increased by 1.9 percent.

Quarterly net sales edged up 0.5 percent to 21.9 billion kronor from 21.8 billion kronor, and like for like net sales increased 4.9 percent. Service revenues slid by 1.3 percent to 18.9 billion kronor, while like for like service revenues increased 3.2 percent.

Based on the performance in the quarter, the Group said it is reiterating its full year outlook of service revenues and EBITDA, excluding Telia Carrier and FX, at flat to low single digit growth.

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