Q2 revenues were in line with expectations while the EBITDA was still solid, up by 4.3% on the core telco business excluding the TV unit.
The outlook for 2022 remains unchanged and we maintain our Add opinion on the stock. Excluding the TV and Media unit (10% of Telia’s revenue and only 1% of its EBITDA in H1) Telia is entering a virtuous circle with modest EBITDA growth and a capex decline.
20 Jul 2022
Entering a virtuous circle (excluding the TV&Media unit)
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Entering a virtuous circle (excluding the TV&Media unit)
- Published:
20 Jul 2022 -
Author:
Jean-Michel Salvador -
Pages:
3
Q2 revenues were in line with expectations while the EBITDA was still solid, up by 4.3% on the core telco business excluding the TV unit.
The outlook for 2022 remains unchanged and we maintain our Add opinion on the stock. Excluding the TV and Media unit (10% of Telia’s revenue and only 1% of its EBITDA in H1) Telia is entering a virtuous circle with modest EBITDA growth and a capex decline.