Tele2 posted higher sales, but only because of the merger

T

Telecom posted higher sales in the second quarter. This growth is entirely due to a merger with industry partner Com Hem on the Swedish home market. Without that merger, there would have been a contraction.

Turnover increased by 33 percent in the past quarter to nearly 6.8 billion Swedish krona, equivalent to around 656 million euros. If mergers and acquisitions are not taken into account, sales actually fell 2 percent.

Due to the divestment of activities in Kazakhstan, net profit rose to 2.1 billion crowns, compared to 443 million crowns a year earlier. Tele2 also sells parts in Croatia, to focus its activities more on Sweden and the Baltic states.

The activities in the Netherlands are not included in the quarterly figures. This part was brought together this year in a partnership with T-Mobile of which Tele2 owns 25 percent. That interest weighed on Tele2’s profit after a depreciation on its value.


By: Leah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to [email protected]

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Categories

About us

EconomicInform, EconomicInform.com is a product of EconomicInform LLC. We sincerely believe that economics is one of the most interesting and most underappreciated – in terms of getting some enjoyment out of reading the subject articles – sciences. More on that - at the link. Feel free to drop us a line.