Telia Company Ab · OMXSTO:TELIA
Telia Company Ab — Q3 2025 Earnings Presentation
26 slides from Telia Company Ab's earnings presentation, Oct 23, 2025
Slide 1: Telia Company Q3 2025
Telia Company Q3 2025 October 23, 2025
Slide 2: Executing on our plan
Executing on our plan Customer metrics − Continued positive trend in NPS trending positively − Good outcome in customer satisfaction surveys − Network performance improving Cost efficiency agenda − EBITDA growth remained healthy across delivers to plan most markets − Dividend again more than covered
Slide 3: Financial highlights
Financial highlights Service revenue: +1.0% Service revenue Like for like growth - Supported by Sweden and the Baltics 1.0% - Pressure on fixed and mobile wholesale in Norway - Mobile was rather flat and Fixed increased +1.0% 2025 outlook: ~2% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Adjusted EBITDA: +4.4% Adj
Slide 4: Sweden
Sweden ARPU Solid customer intake supported by improving NPS, a leading TV offering and successful churn mitigation Mobile postpaid following price changes in the beginning of the year 21 Strong results again in SKI, incl. most satisfied TV, Consumer mobile main brand and Enterprise customers -7 -12
Slide 5: Finland
Finland ARPU Improved mobile customer base trends in both Consumer and Enterprise Mobile postpaid Fixed KPIs supported by increased fiber JV reach and seasonal start of sports -6 -9 -19 -22 -35 +4.0% EBITDA growth remained healthy from good work on generating efficiencies and margin climbed to 34.6%
Slide 6: Norway
Norway ARPU Another challenging quarter as expected, but with signs of improvement Mobile postpaid Further efficiency measures implemented in the previous quarter are starting to show results 0 -6 -2 -11 +4.5% EBITDA growth remained negative driven by lower service revenue -13 Performance pressure e
Slide 7: Norway fixed network development
Norway fixed network development Network technology evolution Fiber upgrades to accelerate… Share of broadband customer connections, % Number of HFC to fiber upgrades per year 70% 60% 50% 2022 2023 2024 2025e 2026e 2027e 2028e 40% … as we invest in fiber upgrades within our existing CAPEX frame 30%
Slide 8: Lithuania
Lithuania ARPU Continued solid development across both mobile (+7.0%) and fixed (+2.1%) Mobile postpaid EBITDA growth remained strong from operational leverage and continued efficiencies 21 16 +3.1% Cash conversion remained strong at SEK 1.6bn 9 10 7 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Broadband Service r
Slide 9: Estonia
Estonia ARPU Continues to leverage its strong position in both connectivity and IT Mobile postpaid Service revenue growth accelerated driven by public sector IT contract, also resulting in increased EBITDA 7 1 6 +0.4% Continued strong cash flow contribution from EBITDA growth and CAPEX discipline 0
Slide 10: Financials
Financials @
Slide 11: Service Revenue & EBITDA
Service Revenue & EBITDA Service revenue Adjusted EBITDA Like for like growth Like for like growth 6.7% 6.2% 1.7% 1.8% 4.4% 1.1% 2.9% 1.0% 1.0% 1.0% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Growth hampered by continued pressure in Norway and portfolio As expected, EBITDA growth wa
Slide 12: OPEX & CAPEX
OPEX & CAPEX OPEX CAPEX excluding spectrum Adjusted EBITDA less CAPEX Like for like growth Reported SEK in billions, R12, booked CAPEX Reported SEK in billions, R12, booked CAPEX excl. spectrum 19.3 -2.9% 17.8 14.6 15.5 12.9 12.5 Q3 24 Resources Marketing Other Q3 25 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4
Slide 13: Free Cash Flow
Free Cash Flow YTD Q3 Q3 Q3 Reported SEK in billions 2025 2025 2024 Change Adjusted EBITDA 24.2 8.5 8.3 0.2 Restructuring and other adj. items -0.4 -0.1 -0.2 0.1 Repayment of leasing liabilities -2.3 -0.8 -0.7 -0.1 Phasing differences in CAPEX payments Cash CAPEX excl. spectrum -10.3 -3.2 -2.9 -0.3
Slide 14: Net Debt & Leverage
Net Debt & Leverage Leverage decreased to 1.93x and Net debt and leverage − Net debt declined by SEK 7.1bn Continuing and discontinued operations, reported SEK in billions, leverage ratio − Strong FCF that again covered the outgoing dividend − TV and Media transaction closed with proceeds used for d
Slide 15: Progress on value creation agenda
Progress on value creation agenda Grow FCF per share to Active portfolio Actively manage our Grow DPS and return cover the dividend management balance sheet excess cash to shareholders ‒ FCF expected to cover the ‒ TV and Media transactions closed ‒ Leverage further reduced to ‒ Quarterly dividend o
Slide 16: Summary & outlook
Summary & outlook
Slide 17: Towards a simpler, faster and more efficient Telia
Towards a simpler, faster and more efficient Telia Significant changes made… … progress is visible… Employees and resource consultants, 000s Operational stability Savings have helped to drive profits Severe Incident Index, R12m Adjusted EBITDA growth, like for like Change program TV & Media exit 5.7
Slide 18: Summary & Outlook
Summary & Outlook Steady progress on our plan agenda to build a better Telia Picture Continued healthy operational momentum in Sweden and the Baltics Executing on the plan to improve performance in Finland & Norway 2025 FCF and CAPEX outlooks upgraded Service revenue Adjusted EBITDA Like for like gr
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Slide 20: Thank you!
Thank you! @
Slide 21: Appendix
Appendix @
Slide 22: Our 2025-2027 financial ambitions
Our 2025-2027 financial ambitions Service revenue* Adjusted EBITDA* CAPEX** Free cash flow*** 2025-2027, CAGR 2025-2027, CAGR 2025-2027 by 2027 SEK SEK 2% 4% <14bn/year >10bn * Based on 2024 as starting point, like for like growth ** CAPEX excl. spectrum and leases (booked) *** Based on the assumpti
Slide 23: Our sustainability progress and ambitions
Our sustainability Net zero emissions in value chain by 2040 progress and ambitions Climate and Zero waste by 2030 circularity Current status Suppliers responsible for 65% of emissions have approved SBTi 3 million individuals reached through targets or equivalent digital inclusion initiatives by 202
Slide 24: Our climate commitments
Our climate commitments 2022 2025 2026 2030 2040 100% renewable electricity in our Short term Science Based Achieve an A score in CDP’s Reduce GHG emissions in the Achieve Net Zero: own operations (achieved already Targets: external climate disclosure. value chain (scope 3) by 50%. in 2020). Reducin
Slide 25: Our key sustainability ratings
Our key sustainability ratings MSCI ESG rating Ecovadis ISS ESG rating Global Child Forum “AAA” (highest) “Platinum supplier” rating -B (Prime status) Ranked No. 4 (score 9.7 of 10) CDP Climate Rating Sustainalytics FTSE4Good World Benchmark Alliance B Rated Included Joint 2nd place in ICT industry
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