TeliaSonera January-June 2004 - Pro Forma

TeliaSonera January-June 2004 - Pro Forma 1)

TeliaSonera has, as previously announced, decided to apply IFRS 3 as of
January 1, 2004, which means that goodwill amortization is discontinued.


Six-month period

· Net sales totaled SEK 40,535 million (40,624).
· Net income increased to SEK 6,553 million (3,183) and earnings per
share to SEK 1.40 (0.68). Goodwill amortization in the comparative
period was SEK 2,121 million.

Second quarter

· Net sales increased 2 percent to SEK 20,589 million.
· Operating income increased to SEK 5,650 million (2,817). Excluding non-
recurring items3), operating income improved to SEK 5,063 million
(4,036). Goodwill amortization in the comparative quarter was SEK 1,073
million.
· Market positions maintained at the expense of lower margins. The EBITDA
margin decreased to 36 percent (40).
· The number of customers grew by 9 percent to 22.8 million. In the
associated companies, the increase was 37 percent to 30.4 million.
· Acquisition of Orange Denmark announced.
· Dividend policy specified and capital structure addressed.


Key Figures
In millions, except Apr-Jun Apr-Jun Apr-Jun Jan-Jun Jan-Jun
percentages and per share 2004 2004 2003 2004 2003
data SEK EUR 2) SEK SEK SEK
Net sales 20,589 2,249 20,275 40,535 40,624
EBITDA excl. non-recurring 7,327 800 8,070 14,527 15,632
items 3)
Margin (%) 35.6 35.6 39.8 35.8 38.5
Income from associated 681 74 -620 1,266 -536
companies
Operating income 5,650 617 2,817 10,833 6,105
Operating income excl. non- 5,063 553 4,036 9,885 7,324
recurring items
Income after financial 5,489 600 3,121 10,384 5,893
items
Net income 3,148 344 1,544 6,553 3,183
Earnings per share 0.67 0.07 0.33 1.40 0.68
CAPEX 2,625 287 2,059 4,383 3,735
Free cash flow 3,591 392 5,155 5,785 9,052
Legal 1)
Net sales 20,589 2,249 20,603 40,535 41,277
Net income 3,148 344 2,983 6,553 4,592
Earnings per share 0.67 0.07 0.64 1.40 0.99

1) Pro forma presentation: Excluding Telia's Finnish mobile operations
and Swedish cable TV operations. Legal presentation: Including these
operations through May 31, 2003.
2) Convenience translation only, conversion rate SEK 1 = EUR 0.109233.
3) Non-recurring items, see table on page 29.


Questions regarding content:
TeliaSonera AB
Investor Relations
SE-106 63 Stockholm, Sweden
Tel. +46 8 504 550 00
Fax +46 8 611 46 42
www.teliasonera.com/ir

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