CEO Comment
– We present the second consecutive quarter of growth with good results across all segments. Sweden B2B turned to growth for the first time in several years and we saw commercial momentum starting to pick up in Sweden B2C. We passed an important milestone with the announcement of the sale of T-Mobile Netherlands, and we took an important step in our commercial strategy with the introduction of 5G in Comviq. In short, we have continued to deliver on our plans and are on a good trajectory for the full year, says Kjell Johnsen, President and CEO of Tele2.

Highlights

• End-user service revenue of SEK 4.9 billion increased by 2% compared to Q3 2020 on an organic basis due to strong performance in the Baltics, growth in Sweden and slight tailwind from roaming.
• Revenue of SEK 6.6 billion increased by 2% compared to Q3 2020 on an organic basis.
• Underlying EBITDAaL of SEK 2.6 billion increased by 5% organically compared to Q3 2020 driven by end-user service revenue growth, cost savings, and less headwinds related to the pandemic.
• Profit after financial items (EBT) of SEK 1.3 billion decreased by SEK 0.1 billion compared to Q3 2020. Net profit from total operations of SEK 1.1 billion (SEK 1.62 per share after dilution) decreased by SEK 0.1 billion compared to Q3 2020. The decline was mainly related to amortization on the Com Hem brand of SEK -0.1 billion in Q3 2021 and a legal settlement of SEK 0.1 billion in Q3 2020.
• Equity free cash flow from continuing operations of SEK 1.9 (1.7) billion. Over the last twelve months, SEK 4.9 billion was generated, equivalent to SEK 7.0 per share.
• 5G launched on the Comviq brand in Sweden and pilot project for fiber build-out launched in Lithuania.
• Extraordinary dividend of SEK 3.00 distributed to shareholders in July and second tranche of ordinary dividend of SEK 3.00 distributed to shareholders in October.
• An agreement to sell T-Mobile Netherlands for an enterprise value of EUR 5.1 billion was announced.