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Kjell Johnsen, CEO of Tele2 Group, credits the ongoing business transformation project with helping mitigate some of the impacts of the challenging macroeconomic environment, and has made certain contributions in managing rising energy costs. I mentioned the advantages.
In a statement accompanying the Swedish-based operator’s third-quarter earnings, Johnsen said energy costs increased by SEK80 million ($7.2 million) in the third quarter, but these stabilisations, as a result of the transformation strategy predicted medium-term inflation.
However, he acknowledged that “these negative external effects” are affecting Tele2’s performance, making the near-term situation more turbulent.
“Fortunately, Tele2 has been helped somewhat by the growth momentum we have generated over the past few quarters, with a relatively limited net effect.”
Johnsen sees progress in 5G deployment as one of its business drivers, despite lingering impact on working capital due to efforts to offset the impact of Covid-19 (coronavirus) .
During the quarter, Tele2 made it clear that it would “secure critical radio spectrum in the Baltics” and “focus on building out the network”.
End-user services revenue increased by 4% year-on-year to SEK 5.1 billion, driven by the mobile business.
Overall revenue was SEK7.1 billion, up 6%.
Net profit decreased from SEK 1.1 billion to SEK 994 billion, but the indicator improved in the nine months to the end of September, rising from SEK 3.4 billion in 2021 to SEK 4.3 billion.
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