Highlights  

• Full year 2025 guidance: Low single-digit organic growth of end-user service revenue, mid- to high single-digit organic growth of underlying EBITDAaL, and around 13% capex to sales (excluding spectrum and leases).
• End-user service revenue of SEK 5.5 billion increased by 2% organically compared to Q4 2023 due to growth across operations. Total revenue of SEK 7.8 billion increased by 1% organically compared to Q4 2023.
• Underlying EBITDAaL of SEK 2.7 billion increased by 1% organically compared to Q4 2023 mainly driven by end-user service revenue growth.
• Profit after financial items (EBT) of SEK 1.2 (1.1) billion in Q4 2024.
• Net profit from total operations of SEK 1.0 (0.9) billion and earnings per share of SEK 1.40 (1.35) in Q4 2024.
• Equity free cash flow of SEK 0.8 (0.5) billion in Q4 2024. Over the last twelve months, SEK 4.4 billion has been generated, equivalent to SEK 6.3 per share.
• The Board of Directors proposes an ordinary dividend of SEK 6.35 per share, equivalent to 100% of 2024 equity free cash flow.
• Tele2 delivered full year results in accordance with guidance. End-user service revenue growth of 3% organically, underlying EBITDAaL growth of 2% organically, and capex to sales of 14% (excluding spectrum and leases). 
• Tele2 has initiated a transformation that aims to improve profitability through stricter prioritisation, reinforced cost consciousness and a simplified organisation, including a workforce reduction of around 15%, subject to union negotiations.

Comment from Jean Marc Harion, President and Group CEO of Tele2

"Tele2 is a global reference for challenger telcos. On top of that, there is an untapped potential in the company, and we must unleash it. We will reduce complexity, reinforce cost discipline and carefully select investments to focus on those that make a real difference for our customers."

"Our organisation will undergo significant changes during 2025. This will be a challenging time for all our colleagues, especially those directly affected by the reorganisation. Myself and all Tele2 leaders carry a great responsibility in the coming months to ensure that this process is as transparent, respectful and supportive as possible. These changes are however necessary to make Tele2 a faster and more agile company, better equipped to swiftly capture market opportunities."

"I am very pleased to see the engagement and commitment from all colleagues to create a new Tele2, built with our challenger heritage as the foundation. 2025 will become a year full of challenges, just how it is supposed to be when raising ambitions, and I am certain that our new Tele2 will soon be fit to deliver more value to our shareholders."

Teleconference and webcast

Tele2 will host a teleconference and webcast with presentation at 09:00 CET (08:00 BT, 03:00 EDT) on Wednesday 29 January 2025. The presentation will be held in English and will last no longer than 1 hour and 30 minutes.  

Registration for the webcast and a separate registration for the teleconference is available at www.tele2.com.

For the teleconference, please note that dial-in numbers and unique PIN code (or a `call-me' facility) will be provided when you register at www.tele2.com. To make sure you are connected in time for the teleconference, please register at least a few minutes in advance.

For more information, please contact:

Fredrik Hallstan, Head of External Communications Phone: +46 8 121 47 400

Stefan Billing, Head of Investor Relations, Phone: +46 701 66 33 10

This information is information that Tele2 AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CET on 29 January 2025.