Tele2 (Neutral, TP: SEK133, +41%) Q4 22: Solid SR and EBITDA, but weak 2023 EBITDA guidance - Quick Take inc call feedback
Tele2 has reported a mixed set of Q4 numbers: SR and underlying EBITDA trends are unchanged and ahead of consensus Q4 expectations, but EFCF is light due a big swing in NWC (and higher capex), and EBITDA guidance for 2023 has been cut slightly.
Tele2 is engaged as a telecom operator. Co. provides mobile communication services, fixed broadband and telephony, data network services and content services. The mobile service comprises various types of subscriptions for residential and business customers as well as prepaid cards. Fixed broadband includes direct access, which is its own services based on access via copper cable and other forms of access, such as fibre networks, wireless broadband and metropolitan area networks. Fixed telephony includes resold products within fixed telephony. The product portfolio within resold fixed telephony consists of prefix telephony, pre-selection (dial the number without a prefix) and subscriptions.
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