Swedish telecommunications firm TeliaSonera AB (TLSNY.PK, 0H6X.L) reported Friday a slight decline in first-quarter profit on lower revenues due to decreased subscriptions. Further, the company backed its fiscal 2013 forecast.
In its first quarter, net income attributable to owners of the parent company decreased 0.3 percent to 4.11 billion Swedish kronor from last year's 4.12 billion kronor. Earnings per share amounted to 0.95 krona, flat with last year.
EBITDA, excluding non-recurring items, decreased 3.9 percent to 8.51 billion kronor. The EBITDA margin, excluding non-recurring items, increased to 34.7 percent from last year's 34.5 percent.
Net sales decreased 4.5 percent to 24.54 billion kronor from last year's 25.69 billion kronor. Net sales in local currencies and excluding acquisitions decreased 0.9 percent.
During the quarter, the number of subscriptions decreased by 0.8 million in the consolidated operations and remained unchanged in the associated companies. The total number of subscriptions was 182.1 million.
President and CEO Per-Arne Blomquist said, "The competitive situation remains demanding on many markets and puts pressure on overall revenue streams. In this environment, we deliver a quarter with both improved margins and stronger cash flow."
Looking ahead for fiscal 2013, the company continues to expect that net sales in local currencies and excluding acquisitions would be flat. Currency
fluctuations may have a material impact on reported figures in Swedish krona. The EBITDA margin, excluding non-recurring items, is expected to increase slightly compared to last year's 34.5 percent.
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