Q4 2025 Telia Company AB Earnings Call Transcript
Key Points
- Telia Company AB (TLSNF) achieved a total shareholder return of 36% for 2025, indicating strong market performance.
- The company delivered on its EBITDA and overdelivered on its free cash flow ambition, despite challenges in Norway and Finland.
- Telia's balance sheet has strengthened, with leverage significantly reduced to 1.93x.
- Sweden delivered its best quarter in modern times with revenue growth reaching almost 5%, supported by business and mission-critical services.
- The company has improved its CapEx efficiency and reshaped its portfolio with strategic divestments and acquisitions.
- Finland experienced a weak quarter with service revenue down 3%, primarily due to a weak enterprise market environment and non-connectivity projects.
- Norway's EBITDA remained in negative territory due to a decline in service revenue and higher costs.
- The Finnish mobile consumer market saw increased competition with two new MVNOs, leading to a net loss of customers.
- The company's guidance for 2026 indicates only modest growth, with service revenue and EBITDA expected to grow around 2% and 3%, respectively.
- The dividend increase proposed by the Board was below market expectations, despite strong free cash flow performance.
Welcome, everyone, to Telia Company's Q4 full-year results presentation. And with that, I will now hand over to Telia Company's Head of Investor Relations, Erik Strandin Pers. Please go ahead. The floor is yours.
Thank you, and good morning, everyone, to our Q4 call. We will do the usual routine with the management presentation followed by Q&A. We have our CEO, Patrik Hofbauer; and CFO, Eric Hageman, in the room. And we go straight ahead, Patrik, the floor is yours.
Thank you, Eric, and good morning to all of you. The last quarter of 2025 confirms that we are on track to reshape Telia into a much simpler, faster and more efficient company, in line with our value creation plan set out at the investor update back in September 2024.
Before I go into the quarter, let me walk you through some key highlights for the full year of 2025. Looking at the financial performance, we
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