Tele2 Ab Class A · OMXSTO:TEL2_A
Tele2 Ab Class A — Q1 2026 Earnings Presentation
17 slides from Tele2 Ab Class A's earnings presentation, Apr 22, 2026
Slide 1: Tele2 Interim Report First Quarter 2026
Tele2 Interim Report First Quarter 2026 Wednesday 22 April Solid start to 2026: uEBITDAaL +11% Right product, right time and right channel ”We are investing in customer Combining advancements in AI and five new store openings to understand and serve our customers’ needs, as well as to improve their
Slide 2: Highlights
Highlights 3% growth in end-user service revenue 11% organic growth in underlying EBITDAaL Strong eFCF of SEK 2.2 bn Baltic tower transaction completed Five new stores added in Sweden Fixed network upgrade to 2.5 Gbps 2
Slide 3: A solid start to the year
A solid start to the year SEK Q1 26 The Group in Q1 (YoY growth) – EUSR growth of 3% driven by growth across all operations End-user service – Underlying EBITDAaL growth of 11% driven by sharp cost control and end-user 5.5bn service revenue growth revenue (EUSR) 1 (+3.4%) – Strong EFCF growth driven
Slide 4: Sweden
SWEDEN
Slide 5: Sweden Consumer: Growth across core services
Sweden Consumer: Growth across core services Mobile EUSR Fixed broadband EUSR Digital TV EUSR SEKm, YoY growth SEKm, YoY growth SEKm, YoY growth +2% +3% +4% +1% +2% +5% +3% +3% +2% +1% -1% 4% -5% -6% -5% -10% -9% -8% -7% -10% 204 206 196 173 193 +3% +4% +5% +3% +3% 818 831 830 823 825 1,409 1,390 59
Slide 6: Sweden Consumer: ASPU growth across services
Sweden Consumer: ASPU growth across services Mobile postpaid RGU & ASPU Fixed broadband RGU & ASPU Digital TV RGU & ASPU +3% +5% +5% +5% +1% +2% -1% -1% 0% +1% +2% +1% +1% -1% -1% -7% -7% -7% -4% 0% +3% +4% +3% +2% +2% +1% +1% +1% 0% -1% 2,157 2,165 2,195 2,194 957 957 958 958 772 765 761 765 768 2,
Slide 7: Sweden Business: Continued strong growth
Sweden Business: Continued strong growth Mobile RGU & net intake Mobile ASPU End-user service revenue Base & QoQ excl. IoT (‘000s), YoY growth YoY growth (excl. IoT) SEKm, YoY growth +7% +4% +5% +5% +6% +6% +5% +4% +3% +1% 10% 5% 8% 3% 2% 330 304 294 306 303 -3% -3% -3% -3% -4% +1% +1% 0% 0% -3% 176
Slide 8: Sweden financials: 9% EBITDAaL growth
Sweden financials: 9% EBITDAaL growth End-user service revenue Underlying EBITDAaL & margin Operating cash flow and cash SEKm, YoY growth SEKm, YoY growth conversion, LTM, SEKm +3% +8% +12% 0% +1% +2% +13% +9% 0% +7% +3% +4% +5% +5% 73% +1% 40% 38% 69% 1,096 1,096 1,152 1,113 38% 66% 1,055 63% 36% 3
Slide 9: Baltics
BALTICS
Slide 10: Baltics financials: 15% EBITDAaL growth pro forma
Baltics financials: 15% EBITDAaL growth pro forma End-user service revenue Underlying EBITDAaL & margin Operating cash flow and cash SEKm, YoY growth SEKm, YoY including tower impact pro forma conversion, LTM, SEKm +7% +6% +20% +7% +7% +7% +15% +20% +16% +8% +8% +7% +9% +7% +15% 723 41% 41% 42% 688
Slide 11: Baltics KPIs: ASPU growth across markets
Baltics KPIs: ASPU growth across markets Lithuania – Mobile RGU & ASPU Latvia – Mobile RGU & ASPU Estonia – Mobile RGU & ASPU +15% +17% +17% +8% +12% +10% +6% +6% +6% +9% +8% +7% +5% +2% +3% -5% -7% -9% -7% -1% -1% -2% 0% -1% -1% +2% -4% +1% 0% -1% 514 502 504 470 449 207 199 204 178 166 46 45 46 37
Slide 12: Financial Overview
FINANCIAL OVERVIEW
Slide 13: Group results
Group results Comments SEK million Q1 2026 Q1 2025 1 Underlying EBITDA growth driven by Revenue 7,246 7,152 sharp cost control and end-user service revenue growth across all operations Underlying EBITDA 1 3,362 3,125 2 Items affecting comparability were mainly Margin (%) 46.4% 43.7% driven by redund
Slide 14: Group cash flow
Group cash flow Comments SEK million Q1 2026 Q1 2025 1 Capex paid decreased due to lower 5G Underlying EBITDAaL 2,924 2,709 rollout speed, reduced workforce and delayed hardware supply Capex paid excl. Spectrum 1 -724 -832 Underlying EBITDAaL - Capex paid excl. Spectrum 2,200 1,876 Spectrum capex pa
Slide 15: Leverage at 1.5x
Leverage at 1.5x Economic net debt to underlying EBITDAaL LTM Comments – Economic net debt decreased by SEK 6.9bn compared to year-end 2025 due to cash proceeds from the Baltic tower transaction and cash 2.2 2.2 generated in the business 2.0 2.1 – Leverage of 1.5x reflects levels comfortably within
Slide 16: 2026 guidance unchanged
2026 guidance unchanged End-user service Underlying revenue1 EBITDAaL 1 Capex to sales2 Low to mid- 2026 guidance Low single-digit 10-11% single-digit 1) Organic growth rate, i.e. FX adjusted and including the impact of the Baltic tower transaction on a pro forma basis 16 2) Excluding spectrum and l
Slide 17: You are number 1. We are Tele2.
You are number 1. We are Tele2.