Report: TeliaSonera January-June 2003 - Pro Forma*

Report: TeliaSonera January-June 2003 - Pro Forma*

Q2 in Brief - Net sales in line with previous year, SEK 20,275 million (20,290). - Operating income improved to SEK 2,744 million (-37,974). Excluding non-recurring items, operating income improved to SEK 3,963 million (800). - Net income improved to SEK 1,499 million (-27,510) and earnings per share to SEK 0.32 (-5.88). - EBITDA improved to SEK 7,747 million (1,734). Excluding non-recurring items, EBITDA improved to SEK 8,070 million (6,241) and the margin increased to 40 percent (31). - Free cash flow increased to SEK 5,155 million (2,534). First Half-Year in Brief - Net sales increased 1.7 percent to SEK 40,624 million (39,932). - Operating income improved to SEK 5,971 million (-33,349). Excluding non-recurring items, operating income improved to SEK 7,190 million (2,810). - Net income improved to SEK 3,101 million (-23,632) and earnings per share to SEK 0.66 (-5.05). - EBITDA improved to SEK 15,309 million (8,306). Excluding non-recurring items, EBITDA improved to SEK 15,632 million (12,213) and the margin increased to 38 percent (31). - Free cash flow increased to SEK 9,052 million (2,245). Comments from Anders Igel, President and CEO "At the end of the second quarter we could see positive effects from our market efforts, although we have further improvements to make. Profits improved across the company and delivered a SEK 3.2 billion increase in operating income." "It is satisfying to see that the Danish fixed-line operations and the international carrier operations reached their turnaround targets and that efficiency improvements delivered faster than expected. The integration of Telia and Sonera and the new governance model are thus yielding results." "Focus is now on improving business within our current footprint. Longer-term, strong cash flow gives TeliaSonera the flexibility to grow the business in a consolidating European industry."
* 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 0.108888.

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http://www.waymaker.net/bitonline/2003/07/31/20040904BIT24680/wkr0006.pdf Interim Report