Telia AB - Interim Report January - June 2002

Telia AB - Interim Report January - June 2002

Q2 in Brief: Group net sales increased 1% to MSEK 14,346 (14,203)- Core business +6 percent.

:: Underlying EBITDA improved 19% to MSEK 3,587 (3,014)- Core business +12 percent
:: The margin increased to 25% (21%)
:: Operating income totaled MSEK 119 (988) and was burdened with restructuring costs of MSEK 482
:: Capital expenditure declined to MSEK 2,091 (3,666) and operating cash flow was MSEK 1,472
:: The EU approved the merger with Sonera on July 10
Comments from Anders Igel, President and CEO:
"Telia stands strong in today's turbulent market situation. Telia's focus on its core business and the ongoing efficiency-enhancing measures are starting to yield results. We will now sharpen our customer- and earnings-focus to make Telia better equipped to employ our strength in the home market."
"We are now seeing an increase in mobile usage in all the Nordic markets and we have strengthened our market position in broadband, particularly in the business segment."
"The earnings trend within the international carrier business is not satisfactory. That is why we now have a comprehensive review underway in order to determine the actions required to attain a positive cash flow position as soon as possible."
"It is highly gratifying that the planned merger with Sonera was approved by the EU. This means that we can now proceed with the preparatory work in earnest."

------------------------------------------------------------
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2002/07/25/20040904BIT23030/wkr0006.pdf Interim Report