TeliaSonera January-December 2004

Effective January 1, 2004, TeliaSonera applies IFRS 3, which means that goodwill amortization (GWA) has been discontinued.

• Net sales totaled SEK 81,937 million (81,772).
• Operating income increased to SEK 18,793 million (13,140).
• Net income increased to SEK 12,964 million (7,671) and earnings per share climbed to SEK 2.77 (1.64).
• Merger synergy target met.
• Strong customer growth:
- 1.5 million new customers in the Nordic and Baltic operations.
- 13 million new customers in Eurasia, Russia and Turkey.
• Acquisition of Orange in Denmark, full ownership in Omnitel and con-solidation of Eesti Telekom.
• To increase future competitiveness, measures have now been initiated to bring down annual costs by SEK 5-6 billion with full effect in three years.
• Proposed dividend SEK 1.20 per share (SEK 1.00 in total).
• Approximately SEK 10 billion repurchase of shares through a public offer to be proposed to the Annual General Meeting in April 2005 as earlier communicated.

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