Telia Company AB
TELIA: XSTO (SWE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
SEK 17.00 | Sctzmy | Rwt |
Telia Earnings: EBITDA Growth of 4.6% Due to Cost Savings and Service Revenue
Telia’s first-quarter revenue declined by 2%, with 2.2% growth in service revenue offset by lower equipment sales. EBITDA performance was stronger, up 4.6%, boosted by a 5% decline in personnel and other operating expenses in reported terms. Telia has started the year on track to meet its full-year guidance and expects low- to mid-single-digit growth in EBITDA and low-single-digit growth in revenue. We maintain our EUR 29 fair value estimate.