TeliaSonera January-September 2003

TeliaSonera January-September 2003 -
Pro Forma 1)

Record free cash flow through strong earnings and lower CAPEX

· Net sales for the nine-month period increased 1 percent to SEK 60,718
million (60,034).
· Net income for the nine-month period improved to SEK 4,836 million
(-35,898) and earnings per share to SEK 1.03 (-7.68).
· Profit improvements across the Group during the nine-month period
generated improved operating income of SEK 9,531 million
(-46,004). Excluding non-recurring items2), operating income improved to
SEK 11,274 million (3,842).
· Free cash flow for the nine-month period increased to SEK 14,190
million (5,862).
· Third quarter EBITDA margin excluding non-recurring items increased to
39 percent (34).
· Synergies ahead of schedule. Decisions taken in 2003 are expected to
yield annual cost savings of SEK 1,302 million and annual investment
savings of SEK 321 million at the end of 2005.


Key Figures

In millions, except Jul-Sep Jul-Sep Jul-Sep Jan-Sep Jan-Sep
percentages and per share 2003 2003 2002 2003 2002
data SEK EUR 3) SEK SEK SEK

Net sales 20,094 2,239 20,102 60,718 60,034
EBITDA excl. non-recurring 7,915 882 6,889 23,547 19,102
items
Margin (%) 39.4 39.4 34.3 38.8 31.8
Income from associated 326 36 -2,731 -344 -33,407
companies
Operating income 3,560 397 -12,655 9,531 -46,004
Operating income excl. non- 4,084 455 1,032 11,274 3,842
recurring items
Income after financial 3,260 363 -13,126 9,019 -46,711
items
Net income 1,735 193 -12,266 4,836 -35,898
Earnings/loss per share 0.37 0.04 -2.62 1.03 -7.68
CAPEX 1,889 210 2,788 5,624 8,350
Free cash flow 5,138 572 3,617 14,190 5,862
Legal 4)
Net sales 20,094 2,239 14,496 61,371 42,727
Net income 1,735 193 -10,118 6,245 -9,961
Earnings/loss per share 0.37 0.04 -3.37 1.34 -3.32

1) Pro forma presentation as if the merger of Telia and Sonera had taken
place on January 1, 2002 and excluding Telia's Finnish mobile
operations and Swedish cable TV operations.
2) Non-recurring items, see table on page 27.
3) Convenience translation only, conversion rate SEK 1 = EUR 0.111433.
4) Including Sonera operations and the new Baltic subsidiaries since
December 3, 2002 and Telia's Finnish mobile operations and Swedish cable
TV operations through May 31, 2003.


Questions regarding content:
TeliaSonera AB
Investor Relations
SE-123 86 Farsta, Sweden
Tel. +46 8 504 550 00
Fax +46 8 713 6947
www.teliasonera.com/ir

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