TeliaSonera’s rise in profit, credit to Russia & Turkey (Stockholm)TeliaSonera (Stockholm-based telecoms group) reported rise in net profit by 7.8% and total revenues climbed 5.7%. EBITDA in the second quarter (excluding one-off items) increased by 6.1%, widening the EBITDA margin slightly to 31.6% from 31.4% in Q2 2007.
TeliaSonera’s growth was heavily driven by mobile operations in Russia, Turkey and its Eurasia division. The Swedish former wireline monopoly’s CEO Lars Nyberg said that reducing expenses is imperative to the company’s strategy going forward to offset the slowdown in its domestic growth and a general decline in fixed line services. ‘The overall market trends were essentially unchanged and we reported a satisfactory set of numbers for the second quarter. For the first time in more than a year, we managed to increase our margins,’ he added.
