Tele2 AB (publ) (TEL2_A) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. My name is Van, and I will be your conference operator today. At this time, I would like to welcome everyone to the Teletubbies Q3 Interim Report 2025. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Jean-Marc Harrien, President and Group CEO. Please go ahead. Thank you and good morning. Welcome to Teletubbies' report call for the third quarter of 2025. With me, I have Peter Landgren, our Group CFO, and some members of our Group Leadership Team. Please turn to slide two for some financial highlights. End-user service revenue grew by 2% in Q3. despite the continued impact of the discontinuation of Boxer TV terrestrial distribution in Sweden at the beginning of the year. Underlying EBITDA continued to increase rapidly, going by 11% during the quarter, mostly thanks to excellent transformation efforts. Once again, our equity free cash flow was very strong, totaling 1.8 billion SEC in the quarter, which is 60% more than last year. At the end of September, we had reduced our workforce by slightly more than 600 positions, thereby already reaching the lower end of our targeted range of 600 to 700 by January 2026. September marked a major milestone as we completed the 5G upgrade across our entire Swedish network. Coverage jumped from 25% to 90% of the territory, now reaching virtually 100% of the Swedish population, and just recently opened signal named Tele2, the global leader in 5G video experience. We are also s...