TeliaSonera (OMX: TLSN, OMXH: TLS1V) reported another solid quarter. The mobile network operator’s net sales grew to 25 894 000 000 Swedish Kronor and EBITDA of around 9.1 billion SEK meant 35.2% EBITDA margin. EPS was down from 1.17 SEK to 0.89 SEK on currency losses and and weaker income from associated companies.
Margins declined for Turkcell (NYSE: TKC), the leading mobile operator in Turkey in which TeliaSonera has 38 percent ownership and MegaFon, the second largest mobile phone operator in Russia which is nearly 44% owned by TeliaSonera, took an inventory write-down. The main growth drivers for TeliaSonera this quarter according to the company were Kcell in Kazakhstan, Ncell in Nepal, Yoigo in Spain and mobility in Sweden.
TeliaSonera feels it has good exposure for current macro environment. Fiber roll-out continues fast in Sweden, Finland, and in the Baltics. TeliaSonera also feels that lower data roaming prices present a business opportunity. The stock is up over 3% at midday. Full interim report is available for download from the company’s website with direct link here.
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