Report: TeliaSonera January-March 2003 - Pro Forma*

Report: TeliaSonera January-March 2003 - Pro Forma*

Q1 in Brief - Net sales increased 3.6 percent to SEK 20,349 million. - Operating income totaled SEK 3,227 million (4,625). Excluding non-recurring items operating income increased from SEK 2,010 million to SEK 3,227 million. - Net income was SEK 1,602 million (3,878) and earnings per share SEK 0.34 (0.83). - EBITDA improved to SEK 7,562 million (6,572). Excluding non-recurring items EBITDA improved from SEK 5,972 million to SEK 7,562 million. EBITDA margin increased to 37 percent (30). - Free cash flow increased to SEK 3,897 million (-289).

Comments from Anders Igel, President and CEO "It is very pleasing to see the strong margin development across the operations and that the implemented efficiency measures are yielding results." "I am however not satisfied with the market share development. We are now taking efforts to reverse the trend and increased market efforts will have an effect on operating income." "Focus going forward is on commercial actions, continued synergy realization and efficiency improvements." * 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. Convenience translation only, conversion rate SEK 1 = EUR 0.108019.

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http://www.waymaker.net/bitonline/2003/05/08/20040904BIT24670/wkr0006.pdf Interim Report