STOCKHOLM (dpa-AFX) - Swedish telecom company Telia Co. (0H6X.L, TLSNY.PK) reported Thursday that its first-quarter net income attributable to owners of the parent was 1.79 billion Swedish kronor, compared to prior year's loss of 710 million kronor. Earnings per share were 0.43 krona, compared to loss of 0.16 krona a year ago.
On a continuing operations basis, net income dropped 13 percent to 2.04 billion kronor from last year's 2.35 billion kronor. Earnings per share fell 11.1 percent to 0.47 krona from 0.53 krona last year.
Adjusted operating income fell 2.8 percent to 3.49 billion kronor, while adjusted EBITDA rose 15 percent to 7.47 billion kronor. The adjusted EBITDA margin increased to 35.8 percent from 32.7 percent last year.
Net sales for the period increased 5 percent to 20.85 billion kronor from 19.85 billion kronor a year ago.
Net sales like for like regarding exchange rates, acquisitions and disposals, decreased 3.0 percent. Service revenues decreased 2.6 percent.
The company said its Annual general meeting held on April 10 approved the proposal from the board of a 2.36 kronor dividend per share
The company initiated the 2019 program aiming to buy back shares for 5 billion kronor until February 28, 2020. This implicitly leaves the total shareholder remuneration to 3.55 kronor per share.
Johan Dennelind, President & CEO, said, 'The outlook of an operational free cash flow of SEK 12.0 to 12.5 billion in 2019 is reiterated. Albeit a slow start on service revenues and EBITDA we are convinced that the measures and steps we have taken to turn the trends will materialize in order to continue to create shareholder value.'
In Sweden, Telia shares were trading at 41.06 kronor, up 1.06 percent.
Copyright RTT News/dpa-AFX