Dow Jones Newswires: Telia cuts steering amid increased power prices, as web revenue misses views

Dow Jones Newswires: Telia cuts steering amid increased power prices, as web revenue misses views

STOCKHOLM — Telia Co. AB on Friday reported barely worse-than-expected third-quarter web revenue and downgraded its steering amid excessive present power costs.

The Swedish telecommunications operator
TELIA,
-7.92%

stated it made a third-quarter web revenue of 1.71 billion kronor ($151.8 million), in contrast with SEK1.58 billion a 12 months earlier and the SEK2.1 billion anticipated in a FactSet ballot.

Adjusted earnings earlier than curiosity, taxes, depreciation and amortization–the corporate’s most popular metric, which strips out distinctive and different one-off objects–rose 4.3% to SEK8.07 billion, in contrast with an anticipated SEK8.05 billion.

Internet gross sales rose 5.6% to SEK22.46 billion, towards SEK22.12 billion anticipated.

Telia stated the group’s power prices are seen growing by round SEK900 million for 2022 on a like-for-like foundation, SEK600 million increased than it anticipated three months in the past.

“This, and the upper rates of interest, is now mirrored in our expectations for operational free money move for 2022, which is estimated to be beneath the minimal dividend degree,” Chief Government Allison Kirkby stated.

Telia nonetheless expects like-for-like service income to develop by low single digit in 2022 and between 2021-23.

Nevertheless, 2022 adjusted Ebitda is now seen just like final 12 months, from low single digit progress seen beforehand.

Write to Dominic Chopping at dominic.chopping@wsj.com

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