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Investing.com -- Telia Company (ST:TELIA) on Friday reported a 6.2% like-for-like increase in adjusted EBITDA in the second quarter of 2025, supported by service revenue growth in Sweden and the Baltics and reduced operational costs following its 2024 Change program.
Revenue rose 1.2% like-for-like to SEK 19.8 billion, while service revenue increased 1%.
Operating income grew to SEK 3.4 billion from SEK 3 billion. Net income dropped to SEK 2.2 billion from SEK 4.9 billion, and earnings per share declined to SEK 0.50 from SEK 1.19, reflecting the absence of a capital gain recorded in the prior-year quarter from the sale of Danish operations.
Free cash flow rose to SEK 2.3 billion from SEK 1.9 billion, driven by EBITDA growth and lower cash CAPEX, which fell to SEK 3 billion from SEK 3.5 billion.
Cash flow from operating activities declined to SEK 6.7 billion from SEK 7.3 billion. Leverage decreased to 2.09x from 2.18x.
Telia completed the divestment of its TV and Media business to Schibsted Media on July 1.
On July 17, the company signed an agreement to sell its holdings in Latvian operators Tet and LMT, with the transaction expected to close in 2026.
A day later, Telia launched a SEK 3.1 billion public offer for Bredband2 at SEK 3.25 per share.
Sweden posted 2.8% service revenue growth and 7.8% EBITDA growth, led by fixed services.
Finland saw a 0.7% decline in service revenue, while EBITDA increased 9.8%. Norway’s service revenue declined 3.9%, and EBITDA fell 8.6% due to lower wholesale and TV revenue.
Lithuania reported 5.4% service revenue growth and an 11% rise in EBITDA. Estonia grew service revenue by 3.1% and EBITDA by 3.9%.
Other operations, including the Latvian mobile business and Telia Towers, reported 5% revenue growth and a 31.9% rise in EBITDA. Latvia’s mobile unit grew service revenue by 7.1% and EBITDA by 9.6%.
Discontinued operations, comprising TV and Media and the previously sold Danish assets, reported SEK 2.1 billion in revenue, down from SEK 2.2 billion. EBITDA rose to SEK 485 million from SEK 119 million.
Total (EPA:TTEF) borrowings fell to SEK 93.8 billion from SEK 97.9 billion at year-end. Net debt stood at SEK 68.5 billion.
Adjusted EBITDA on a rolling 12-month basis reached SEK 32.7 billion. Credit ratings from Moody’s (Baa1) and S&P (BBB+) remained stable.
Telia reiterated its 2025 outlook, guiding for about 2% service revenue growth, at least 5% EBITDA growth, CAPEX below SEK 14 billion, and free cash flow around SEK 7.5 billion.