Q2 2026 Tele2 AB Earnings Call Transcript
Key Points
- Tele2 AB (TLTZF) reported a 2% growth in end-user service revenue and a 4% increase in underlying EBITDA for Q2 2026.
- The company generated a healthy equity-free cash flow of $1.5 billion during the quarter.
- Tele2 AB (TLTZF) announced a strategic partnership with Scaleway to launch a sovereign and scalable cloud and AI offering in Sweden.
- The company was recognized by Time Magazine as one of the world's most sustainable companies, being the most sustainable telco in the Nordics.
- Baltic operations showed strong performance with a 6% growth in end-user service revenue and a 10% increase in underlying EBITDA.
- Equity-free cash flow decreased by 9% year-on-year, impacted by the timing of tax payments.
- Fixed broadband end-user service revenue declined by 2% due to competitive pricing dynamics.
- The Swedish market remains highly competitive, particularly in the no-frills segment, affecting pricing strategies.
- CapEx to sales increased seasonally versus Q1, although it remained below last year's level due to a slower 5G rollout.
- The company faces inflationary pressures in certain cost areas, which could impact profitability.
So, good morning, and welcome to Tele2's call for the second quarter of 2026. With me, I have Pete Langen, our Group's CFO, and Stefan Trampus, our Chief B2B. So, please turn to Slide 2 for some highlights from the second quarter.
So in Q2, group end user service revenue grew by 2%, whereas underlying EBITDA grew by 4%, despite tougher comps than in Q1.
In Q2, we also continued to generate healthy equity-free cash flow of $1.5 billion.
We also announced a partnership with Scaleway, Europe's leading public cloud provider, to launch a sovereign and scalable cloud and AI offering in Sweden. So offering combined scale-wise public cloud capabilities with Telitu's private cloud services, providing organizations with a powerful hybrid solution.
We continue to expand our store network in Sweden, adding three new stores during the quarter.
And finally, we are proud to have been recognized by Time Magazine as one of the world's most sustainable companies, including being the most sustainable telco in
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