Telia Company reported a rise in third-quarter adjusted earnings and a significant increase in free cash flow, prompting the Swedish telecom operator to raise its full-year cash flow forecast.
Adjusted earnings before interest, tax, depreciation, and amortization rose 4.4% on a like-for-like basis, the company said Thursday, driven by service revenue growth and cost-cutting measures.
Free cash flow more than doubled to 2.9 billion Swedish kronor from 1.4 billion kronor a year earlier.
As a result, Telia lifted its 2025 free cash flow outlook to around 8 billion kronor from a previous forecast of about 7.5 billion kronor.
The results reflect the company's strategy to simplify its operations and focus on its core Nordic and Baltic markets, which has involved divesting its TV and media business and agreeing to exit Latvia.
"We are now more than a year into the execution of our plan to become a simpler, faster and more efficient Telia," CEO Patrik Hofbauer said in a statement.
"We have taken initial steps to improve performance and are encouraged by the results seen so far."
The company is also in the process of acquiring Swedish broadband provider Bredband2, a deal currently under an extended antitrust review.
Quarterly revenue was 19.9 billion kronor, a 1.1% like-for-like increase from the same period last year.
More from this issuer
Related coverage
Telia Company said Friday it is extending the acceptance period for its 3.11 billion Swedish kronor takeover offer for broadband provider Bredband2 after the deal came under an extended antitrust review in Sweden.
Telia Company has published the official offer document for its 3.11 billion Swedish kronor cash bid for broadband provider Bredband2 i Skandinavien, moving forward with a deal to strengthen its position in its home market.
Telia is reshaping its business with a series of deals, announcing a recommended 3.1 billion Swedish kronor cash offer for broadband provider Bredband2 and a plan to exit Latvia.
Telia Company has launched a recommended cash offer to acquire Swedish broadband provider Bredband2 i Skandinavien for approximately 3.11 billion Swedish kronor.