TELE2 AB ANNOUNCES MSEK 616 POSITIVE CASH FLOW IN THE FOURTH QUARTER AND CUSTOMER INTAKE OF 3.4 MILLION WITH 54% INCREASE IN REVENUE FOR THE 12 MONTHS ENDED DECEMBER 31, 2001
- 54% increase in pro forma Operating Revenue for 2001
- Tele2 Sweden's mobile operations reported 54% EBITDA margin in 2001 and revenues up 20%
- 15 million subscribers by year end, an increase of 29%, mobile subscribers up 45%
- EBITDA MSEK 1,699 (pro forma 2000 MSEK -371)
- Tax payable reduced by SEK 3.1 billion following restructuring
- Balance sheet further strengthened with EUR 1.2 billion 5 year facility
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- Tele2's operating revenues were MSEK 25,085 for the twelve months ended December 31, 2001, an increase of 54% over the pro forma MSEK 16,243 reported in the same period last year.
- The total number of subscribers at December 31, 2001 was 15.0 million, an increase of 29%.
- EBITDA was MSEK 1,699 (-371). EBITDA was SEK 633 in the fourth quarter a strong improvement against the previous year, (Q4 2000: SEK -379). The fourth quarter result was reduced in comparison to the third quarter by the higher sales and marketing costs associated from the large intake of new customers.
- Tele2 Sweden's operating revenues were MSEK 9,060 for the twelve months ended December 31, 2001 an increase of 14% over the same period last year. EBITDA was MSEK 3,773 (2,728),an increase of 38%. The EBITDA margin was 42% in 2001 as against 34% in 2000. Mobile telephony revenues were up 20% to MSEK 5,720 with EBITDA up 41% to MSEK 3,111 giving a mobile margin of 54%.
- In the fourth quarter there was a restructuring within the former SEC Group and one of the effects of this reorganization was that tax payable by the Group will be reduced by SEK 3.1 billion.
- In October, Tele2 announced a review of its product range making MSEK 80 cost savings per annum
- Tele2 launched GPRS in Sweden in October.
- Tele2 announced partnership with the Post Office in November to provided fixed telephony services in UK
- On December 1, 2001, Tele2 acquired FORA Telecom the mobile business of Millicom International Cellular
- Tele2 reached agreement with Viag Interkom in Germany to launch an MVNO following on from the successful launch of an MVNO in the Netherlands in August.
- On December 31 Tele2 purchased the remaining part of Levicom Broadband.
- In January, Tele2 divested its 37% holding in Transcom Worldwide S.A to Industriforvaltnings AB Kinnevik
- In March, Tele2 signed agreement to form a jointly owned UMTS- network company with Telia
- In August, Tele2 finalised a 5 year new amortizing senior debt facility of Euro 1.2 billion
- In September, Tele2 Norge acquired Enitel AS's private and corporate fixed telephony and dial-up internet subscribers
President and CEO, Tele2 AB
CFO, Tele2 AB