Q3 revenues were flat yoy and this is somewhat disappointing. EBITDA rose in parallel by 1.8% but with a margin improvement that was less significant than in H1. Management has begun medium-term structural initiatives that will drive further cost reductions and improve the EBITDA margin by 2020. Despite a disappointing Q3, we believe the group is restructuring well… getting ready for the future in particular on the TV side in Sweden, Norway and Finland. We maintain our opinion at Add.<
19 Oct 2018
An essential Scandinavian player which should improve its margin in 2019-20
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An essential Scandinavian player which should improve its margin in 2019-20
Telia Company AB (TELIA1:HEL) | 0 0 0.9% | Mkt Cap: 163,504m
- Published:
19 Oct 2018 -
Author:
Jean-Michel Salvador -
Pages:
3
Q3 revenues were flat yoy and this is somewhat disappointing. EBITDA rose in parallel by 1.8% but with a margin improvement that was less significant than in H1. Management has begun medium-term structural initiatives that will drive further cost reductions and improve the EBITDA margin by 2020. Despite a disappointing Q3, we believe the group is restructuring well… getting ready for the future in particular on the TV side in Sweden, Norway and Finland. We maintain our opinion at Add.<