STOCKHOLM (dpa-AFX) - Telia Co. (0H6X.L, TLSNY.PK), on Thursday, reported Q1 total net income of SEK 757 million versus SEK 738 million last year.
Net income from continuing operations grew to SEK 745 million from SEK 602 million reported in the prior year period.
Revenue for the quarter amounted to SEK 21.3 billion, lower than the previous year's revenue of SEK 21.7 billion.
The company stated that its balance sheet is healthy, with a net debt to EBITDA at 2.43x at the end of the quarter. The proceeds from the sale of Telia Denmark, which closed on 2 April, will be used to reduce leverage, the company added.
Patrik Hofbauer, President & CEO, said, 'Operational momentum continued in the first quarter, with growth in all telco businesses and progress in the TV and Media turnaround. NPS and service revenue trends in the consumer segment have been encouraging. Immediately after the end of the quarter the sale of Telia Denmark closed as expected, which strengthens our balance sheet.'
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