Pan-European telecommunications operator Tele2’s (OMX: TEL2 B) Q2 sales were a hair under 10 billion SEK. The headline number declined from comparison period but grew 6 percent adjusted for currency effects and one-off items. EBITDA of 2.711 billion SEK is equivalent to EBITDA margin of 27 percent.
Tele2 now expects mid single digits mobile revenue growth in Sweden as opposed to high single digits but says mobile growth revenue in Nordic countries is robust. Russian operations contributed to earnings at a record level for the company.
The firm aims to maintain a healthy balance between growth region exposure and more mature markets. ROCE target for all operations is 20 percent and Tele2 does not enter regions where it does not feel it can reach at least a top 2 position in the market.
Tele2 has gained 4.5% at the time of writing this article. The full interim report is available for download in pdf from here:
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