Tele2 reports sales up by 7% in Q2Tele2 second-quarter sales of SEK 10.15 billion, up 7 percent from a year earlier. EBITDA improved 29 percent to SEK 2.07 billion, and the net result moved to a profit of SEK 114 million versus a loss of SEK 331 million a year ago. Its reorganisation was starting to bear fruit, but it would continue to focus on improving poorly performing units or putting them up for sale the company said. The operator underlined its continued interest in expanding in the CIS region, where it has seen strong growth already in its Russian mobile operations.
Tele2 added 751,000 new mobile customers during the quarter, of which 606,000 came in Russia, for a total 18.24 million at the end of June. Mobile revenue grew by 14 percent to SEK 6.1 billion, with a 26 percent EBITDA margin, supported also by customer growth in Sweden and Croatia as well better margins in the Netherlands and France.
Tele2 said it’s focused on minimizing investment in fixed phone services and maximising cash flow from the activities. The operations reported revenues of SEK 1.95 billion, down 16 percent from a year ago, while EBITDA improved to SEK 487 million from SEK 409 million.
