Stockholm – Tele2 AB (“Tele2”) (Nasdaq Stockholm: TEL2 A and TEL2 B) today announces its consolidated results for the third quarter 2024.

Highlights

• End-user service revenue of SEK 5.5 billion increased by 3% organically compared to Q3 2023 due to growth across operations. Total revenue of SEK 7.4 billion increased by 3% organically compared to Q3 2023.
• Underlying EBITDAaL of SEK 2.8 billion increased by 2% organically compared to Q3 2023 mainly driven by end-user service revenue growth.
• Profit after financial items (EBT) of SEK 1.4 (1.3) billion in Q3 2024.
• Net profit from total operations of SEK 1.1 (1.1) billion and earnings per share of SEK 1.60 (1.54) in Q3 2024.
• Equity free cash flow of SEK 1.1 (1.9) billion in Q3 2024. Over the last twelve months, SEK 4.1 billion has been generated, equivalent to SEK 5.9 per share.
• Full year 2024 guidance and mid-term outlook unchanged.
• Tele2 and Disney Nordic have signed an agreement to offer Tele2 customers more entertainment through Disney+.
• After four years as CEO for Tele2, Kjell Johnsen has informed the board that he will be stepping down.
• Tele2’s Board of Directors has appointed Jean Marc Harion as President and CEO, effective from the 10th of November. Jean Marc Harion is currently the CEO of Polish telecom operator Play and serves on Tele2’s Board of Directors.
  
  Comment from Kjell Johnsen, President and Group CEO of Tele2
  “I am glad to report that we continue our growth in all business lines while being on track to finishing the 5G swap in Sweden. We see positive momentum and volume within Sweden Consumer and a good order intake for Sweden Business. Price adjustments in Latvia have played out well and the overall momentum in Lithuania and Latvia continues to impress.”
  
  “As this is my last quarterly report at Tele2, I would like to thank my team, the Board and all employees for a lot of demanding work and a strong determination to deliver great services to our customers. We have worked together to transform a company consisting of several cultures and systems into a company with one strategy, common values and a culture that strives to improve our business operations while being a true leader within sustainability. We will now make sure we have a good handover to Jean Marc.”