Nordic operator Telia’s CEO Allison Kirkby (pictured) admitted it continued to face headwinds as it progresses with a strategy to expand its 5G rollout, boost convergence and accelerate a wider restructure, after revenue and net income decreased in Q3.
Net income amounted to SEK1.6 billion ($186.2 million), down from SEK2.6 billion in Q3 2020, with revenue falling 1.2 per cent to SEK21.3 billion. Telia stood by its full-year forecast despite the declines.
Kirkby was bullish in her commentary on its performance, noting the foundations to “reinvent a better Telia” were now firmly in place as part of a strategy revamp [1] unveiled earlier this year.
The CEO pointed to growth across Telia’s business units and a service revenue increase of 2.3 per cent to SEK18.1 billion. The company explained structural cost reductions continue according to its plan, but content investments are impacting overall costs levels.
In its challenger markets, “results were mixed”, explained the company. It saw positive trends in Norway, with gains across enterprise while the consumer side remained stable, which was also the case in Denmark. But service revenue declined in Finland.
The company stated its “transform to digital” initiative delivered a more than SEK65 million reduction of IT costs in the quarter through decommissioning legacy systems and products, as well as consolidating IT vendors.
[1] https://www.mobileworldlive.com/featured-content/top-three/telia-reveals-revamp-to-boost-infrastructure-assets
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