TeliaSonera has reported that its fourth-quarter revenues dropped by 2.4% to SEK27.4 billion (US$3.75 billion), while its net income declined by 14% to SEK4.9 billion (US$669 million) due to lower income from associated companies and higher income taxes. EBITDA, excluding non-recurring items, increased 9.3 percent to SEK 9 billion (US$1.23 billion).
During the quarter the number of subscriptions grew by 3.8 million, of which 1.8 million new subscriptions in the majority-owned operations and 2.0 million in the associated companies, totaling 147.6 million.
For the full year, net sales increased 5.4 percent to SEK109 billion (US$14.9 billion). In local currencies and excluding acquisitions net sales decreased 0.3 percent. Net income was down a tiny shade at SEK18.85 million (US$2.58 billion) compared to SEK19 billion in 2008 (US$2.6 billion).
Comments by Lars Nyberg, President and CEO: "I am proud of our achievements during 2009. We have been able to keep revenues in local currencies intact, reported the highest EBITDA ever and improved cash flow by as much as 50 percent compared to last year, due to a healthy mix of mature and emerging markets."
"One of the things I and the rest of the management team are particularly proud of is that we have managed to break the trend of continuous cost increases. This is a result of major cost reductions in the Nordic and Baltic countries and tight cost control in Eurasia. In this context, I am encouraged that employee satisfaction and commitment improved. For the second year in a row, we have made significant progress and reached the highest level since TeliaSonera started measurements in 2004."
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