Q2 sales increased by 4% yoy at constant change and are slightly better than what we were expecting. Note that although the solid growth registered in Sweden in Q1 (+4%) stopped due to a lower mobile customer stock, Kazakhstan confirmed logically its role as an engine of growth with a 23% increase in its sales yoy (corresponding now to 7.5% of Tele2's global sales). But the Q2 EBITDA was below our estimates (even if it is not a real surprise as we believe that the German and Austrian assets a
21 Jul 2015
Obsolete German and Austrian assets weigh on the overall Q2 EBITDA
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Obsolete German and Austrian assets weigh on the overall Q2 EBITDA
Tele2 AB Class B (NCYD:FRA) | 0 0 2.1% | Mkt Cap: 48,603m
- Published:
21 Jul 2015 -
Author:
Jean-Michel Salvador -
Pages:
3
Q2 sales increased by 4% yoy at constant change and are slightly better than what we were expecting. Note that although the solid growth registered in Sweden in Q1 (+4%) stopped due to a lower mobile customer stock, Kazakhstan confirmed logically its role as an engine of growth with a 23% increase in its sales yoy (corresponding now to 7.5% of Tele2's global sales). But the Q2 EBITDA was below our estimates (even if it is not a real surprise as we believe that the German and Austrian assets a