Q1 2026 Tele2 AB Earnings Call Transcript
Key Points
- Tele2 AB (TLTZF) reported a 3% growth in group end-user service revenue and an 11% increase in underlying EBITDA, marking the fourth consecutive quarter of double-digit growth.
- The company completed the Baltic Tower transaction, generating cash proceeds of SEK4.7 billion.
- Tele2 AB (TLTZF) opened five new stores in Sweden and upgraded its fixed network to 2.5 gigabit per second, offering the fastest internet speeds in the country.
- The Swedish business segment showed strong performance with a 5% growth in end-user service revenue, driven by mobile and IoT.
- The Baltic operations maintained strong growth, with a 7% increase in end-user service revenue and a 15% growth in underlying EBITDAaL.
- CapEx to sales declined seasonally due to a lower 5G rollout speed in Q1.
- The company faced continued aggressive competition in parts of the market, impacting volume growth.
- There were temporary negative impacts on mobile postpaid RGUs due to 2G and 3G shutdowns.
- The Swedish consumer market remains highly competitive, with some sales channels distorting competition.
- The company is cautious about the impact of geopolitical uncertainty on profitability and revenue growth.
Good day, and thank you for standing by. Welcome to the Tele2 Q1 interim report 2026 webcast and conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Jean-Marc Harion, President and Group CEO. Please go ahead.
Thank you, and good morning, and welcome to Tele2's report call for the first-quarter of 2026. With me here in Stockholm, I have Peter Landgren, our Group CFO; Nicholas Hogberg, our Chief B2C Officer and Deputy CEO; and Stefan Trampus, our Chief B2B.
Please turn to slide 2 for some highlights from the first quarter. In Q1, group end-user service revenue grew by 3%, whereas underlying EBITDA grew by 11%, marking the fourth consecutive quarter of double-digit growth. We also continue to generate strong equity free cash flow with SEK2.2 billion in Q1, plus 7% versus last year.
Our Baltic Tower transaction was completed by the
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