Telia (Neutral, TP: €45, -5%) Q1 26: Nice EBITDA beat, growth ahead of guidance
Telia has reported a good set of numbers, with EBITDA +1.4% ahead of consensus. EBITDA growth was +4% y/y vs +3% full year guidance, and the next quarters will be supported by the ICE wholesale contract loss annualising.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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