Financials Telia Company AB

Equities

TELIA

SE0000667925

Integrated Telecommunications Services

Market Closed - Nasdaq Stockholm Other stock markets 11:29:31 2024-04-26 am EDT			5-day change	1st Jan Change
25.65 ^SEK	-0.97%		-3.28%	-0.31%

Apr. 25	Transcript : Telia Company AB, Q1 2024 Earnings Call, Apr 25, 2024
Apr. 25	Telia's Q1 core earnings slightly below expectations	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	165,558	138,884	144,793	104,830	101,173	100,859	-	-
Enterprise Value (EV) ¹	253,610	217,227	207,926	176,227	174,931	170,543	175,840	172,325
P/E ratio	22.7 x	-6.06 x	12.4 x	-7.34 x	322 x	17 x	14.8 x	13.2 x
Yield	6.09%	5.89%	5.79%	7.5%	7.77%	7.8%	7.89%	7.98%
Capitalization / Revenue	1.93 x	1.56 x	1.64 x	1.15 x	1.14 x	1.12 x	1.1 x	1.09 x
EV / Revenue	2.95 x	2.44 x	2.35 x	1.94 x	1.97 x	1.9 x	1.92 x	1.85 x
EV / EBITDA	8.14 x	7.08 x	6.96 x	5.81 x	5.78 x	5.5 x	5.46 x	5.21 x
EV / FCF	20.5 x	14.4 x	17.7 x	21.8 x	19 x	17.5 x	17.9 x	15.7 x
FCF Yield	4.88%	6.96%	5.64%	4.59%	5.26%	5.71%	5.6%	6.37%
Price to Book	1.82 x	2.21 x	1.79 x	1.63 x	1.89 x	1.97 x	2.01 x	2.05 x
Nbr of stocks (in thousands)	4,113,254	4,089,632	4,089,632	3,932,109	3,932,109	3,932,109	-	-
Reference price ²	40.25	33.96	35.40	26.66	25.73	25.65	25.65	25.65
Announcement Date	1/29/20	1/29/21	1/28/22	1/26/23	1/26/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	85,965	89,191	88,343	90,827	88,785	89,790	91,431	92,942
EBITDA ¹	31,170	30,702	29,861	30,328	30,254	31,013	32,221	33,089
EBIT ¹	13,452	11,560	10,033	11,332	10,862	12,079	13,199	13,674
Operating Margin	15.65%	12.96%	11.36%	12.48%	12.23%	13.45%	14.44%	14.71%
Earnings before Tax (EBT) ¹	9,354	-21,065	12,598	-12,783	1,105	7,972	9,225	10,295
Net income ¹	7,093	-22,912	11,680	-14,638	303	5,537	6,746	7,507
Net margin	8.25%	-25.69%	13.22%	-16.12%	0.34%	6.17%	7.38%	8.08%
EPS ²	1.770	-5.600	2.860	-3.630	0.0800	1.506	1.736	1.942
Free Cash Flow ¹	12,369	15,114	11,729	8,094	9,204	9,742	9,849	10,974
FCF margin	14.39%	16.95%	13.28%	8.91%	10.37%	10.85%	10.77%	11.81%
FCF Conversion (EBITDA)	39.68%	49.23%	39.28%	26.69%	30.42%	31.41%	30.57%	33.17%
FCF Conversion (Net income)	174.38%	-	100.42%	-	3,037.62%	175.94%	146%	146.18%
Dividend per Share ²	2.450	2.000	2.050	2.000	2.000	2.000	2.025	2.046
Announcement Date	1/29/20	1/29/21	1/28/22	1/26/23	1/26/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	23,380	21,818	22,293	22,456	24,261	23,069	23,297	21,997	23,098	21,274	22,349	22,161	23,593	-	-
EBITDA ¹	7,290	7,202	7,681	8,070	7,374	7,258	7,773	8,465	7,491	7,144	7,581	8,428	7,757	-	-
EBIT ¹	2,246	2,609	3,014	3,387	2,322	1,887	2,649	3,654	2,374	2,675	2,832	3,658	3,062	-	-
Operating Margin	9.61%	11.96%	13.52%	15.08%	9.57%	8.18%	11.37%	16.61%	10.28%	12.57%	12.67%	16.51%	12.98%	-	-
Earnings before Tax (EBT) ¹	1,181	1,407	2,121	2,404	-18,715	1,044	1,235	2,382	-3,300	1,022	1,809	2,936	2,191	-	-
Net income ¹	1,122	929	1,684	1,710	-18,801	603	762	1,790	-2,852	598	1,225	1,932	1,407	-	-
Net margin	4.8%	4.26%	7.55%	7.61%	-77.49%	2.61%	3.27%	8.14%	-12.35%	2.81%	5.48%	8.72%	5.96%	-	-
EPS ²	0.2700	0.2300	0.3700	0.4200	-4.780	0.1500	0.1900	0.4600	-0.7300	0.1500	0.3195	0.4976	0.3549	-	-
Dividend per Share ²	2.050	-	-	-	2.000	-	-	-	0.5000	-	0.2500	0.2500	1.275	0.5250	0.5250
Announcement Date	1/28/22	4/27/22	7/20/22	10/21/22	1/26/23	4/26/23	7/20/23	10/19/23	1/26/24	4/25/24	-	-	-	-	-

¹SEK in Million²SEK

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	88,052	78,343	63,133	71,397	73,758	69,684	74,981	71,467
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.825 x	2.552 x	2.114 x	2.354 x	2.438 x	2.247 x	2.327 x	2.16 x
Free Cash Flow ¹	12,369	15,114	11,729	8,094	9,204	9,742	9,849	10,974
ROE (net income / shareholders' equity)	9.07%	-29.9%	16.3%	-20.2%	9%	10.5%	13.4%	15.3%
ROA (Net income/ Total Assets)	3.34%	-9.34%	5.04%	-6.37%	2.36%	2.9%	3.38%	3.74%
Assets ¹	212,391	245,379	231,562	229,909	12,859	190,931	199,615	200,800
Book Value Per Share ²	22.10	15.40	19.70	16.30	13.60	13.00	12.80	12.50
Cash Flow per Share ²	6.610	7.050	6.690	5.950	6.270	6.270	6.470	6.400
Capex ¹	15,224	13,710	15,647	15,908	15,466	14,302	14,641	14,470
Capex / Sales	17.71%	15.37%	17.71%	17.51%	17.42%	15.93%	16.01%	15.57%
Announcement Date	1/29/20	1/29/21	1/28/22	1/26/23	1/26/24	-	-	-

¹SEK in Million²SEK

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Telia Company AB

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

25.65 SEK

Average target price

28.72 SEK

Spread / Average Target

+11.97%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Integrated Telecommunications Services

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AMÉRICA MÓVIL, S.A.B. DE C.V.	0.00%	56.41B
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EMIRATES TELECOMMUNICATIONS GROUP COMPANY	-13.54%	39.77B
CHARTER COMMUNICATIONS, INC.	-34.49%	37.41B

Other Integrated Telecommunications Services