Morningstar - Telia Company AB (TELIA) Telia Reported 4Q Results In Line With Our Expectations; Maintaining FVE, Shares Fairly Valued

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Morningstar

Allan C. Nichols

EUR 101.80 For Business Accounts Only

Telia Reported 4Q Results In Line With Our Expectations; Maintaining FVE, Shares Fairly Valued

Telia reported fourth-quarter results that are generally in line with our expectations and we expect to maintain our SEK 40 per share fair value estimate and narrow-moat rating. We believe the shares are fairly valued. The firm reported fourth-quarter revenue growth of 0.3% year over year, which enabled its full-year revenue to decline by 5.1%, spot-on with our projection. The main reason for the full-year decline was the 2016 divestiture of Yoigo, its Spanish operation.
In its home market of Sw...

26/01/2018 12 EN

Underlying

Telia Company AB

Telia Company provides telecommunication services in the Nordic and Baltic countries, the markets of Eurasia, including Russia, Turkey and Spain. Co. has three business segments: Mobility Services, which comprises operations in Sweden, Finland, Norway, Denmark, Lithuania, Latvia, Estonia and Spain; Broadband Services, which comprises operations in Sweden, Finland, Denmark, Lithuania, Latvia (49.0%), Estonia and international carrier operations; and Eurasia, which comprises mobile operations in Kazakhstan, Azerbaijan, Uzbekistan, Tajikistan, Georgia, Moldova and Nepal. The business area also includes Co.'s shareholdings in OAO MegaFon, Russia and Turkcell Iletisim Hizmetleri A.S., Turkey.

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SE0000667925 Nasdaq Nordic Stockholm Sweden

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Allan C. Nichols

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Telia Reported 4Q Results In Line With Our Expectations; Maintaining FVE, Shares Fairly Valued

Telia Company AB: 1 director

EU Telecoms: Half-time 2025 Review Sector has outperformed: More selective stock picking needed

Telia performs well/Bredband2 acquisition doesn't come cheap

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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