TeliaSonera January-December 2003 - Pro Forma 1)

TeliaSonera January-December 2003 - Pro Forma 1)

TeliaSonera posts record profit and cash flow
· Net sales increased 1 percent to SEK 81,772 million (80,979).
· Net income improved to SEK 7,671 million (-32,890) and earnings per share to SEK 1.64 (-7.03).
· Operating income climbed to SEK 13,140 million (-45,958). Exclud-ing non-recurring items2), operating income improved to SEK 14,831 million (5,992).
· Free cash flow increased to SEK 17,499 million (9,534).
· EBITDA excluding non-recurring items increased to SEK 30,690 million (25,457), and the margin climbed to 38 percent (31).
· Strong growth in mobile and Internet. Negative fixed consumer trend in Sweden broken at year-end.
· Synergies realized faster than planned. Initiatives taken thus far are expected to yield annual cost savings of SEK 1,751 million and annual investment savings of SEK 374 million at the end of 2005.
· Proposed dividend increase to SEK 1.00 per share, consisting of an ordinary dividend of SEK 0.80 (0.40) and an extra dividend of SEK 0.20, reflecting the exceptionally strong cash flow.

Comments from Anders Igel, President and CEO
"We are proud of our achievements in 2003 with a record profit, integration of Telia and Sonera accomplished and that our efforts to regain market shares are starting to show results.
We see exciting business opportunities to be pursued by unlocking our real strength and by applying the formula of simplicity and service level.
There are profitable growth opportunities both organically and by acquisitions.
Following the successful merger we are ready to take the next step if and when the right opportunity occurs."


TeliaSonera's Press Office, Phone: +46 8 713 58 30
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The following files are available for download:
http://www.waymaker.net/bitonline/2004/02/11/20040903BIT22680/wkr0006.pdf Year-End Report 2003