By Anthony O. Goriainoff


Telia Co. AB said Thursday that it missed consensus as it swung to a net loss for the fourth quarter after booking non-cash impairments, and that 2023 like-for-like service revenue is estimated to grow by low single digits.

The Swedish telecommunications operator said it made a fourth-quarter net loss of 18.82 billion kronor ($1.84 billion), compared with a net profit of SEK1.19 billion a year earlier and consensus of SEK1.22 billion, taken from FactSet and based on seven analysts' estimates.

The company said it booked non-cash impairments of SEK19.84 billion.

Service revenue rose 3.9% to SEK20.17 billion.

Adjusted earnings before interest, taxes, depreciation and amortization--the company's preferred metric, which strips out exceptional and other one-off items--rose 1.2% to SEK7.37 billion, below consensus of SEK7.44 billion, also taken from FactSet and based on 10 analysts' estimates. The company reported adjusted Ebitda of SEK7.29 billion for the fourth quarter of 2021.

Net sales rose 3.8% to SEK24.26 billion from SEK23.38 billion the year prior.

The board declared a dividend for 2022 of SEK2.00 a share compared with SEK2.05 a share the previous year.

Telia said it expects like-for-like 2023 service revenue to grow by low single digit, and for adjusted Ebitda to be flat to grow by low single digit, and that this was a reflection of the macro-economic uncertainty.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


(END) Dow Jones Newswires

01-26-23 0146ET