Tele2 grows sales 10%, EBITDA drops 3%; LTE gains 70,000 users

Swedish telecoms groups Tele2 has posted consolidated revenues for the second quarter of 2012 of SEK11.064 billion (USD1.591 billion), up by 10% from SEK10.078 billion in the same quarter of last year, as a result of sustained growth in mobile services and an additional boost from the newly purchased and integrated operations and assets of Network Norway. However, EBITDA was negatively affected by significant increases in marketing spending, and dropped by 3% year-on-year to SEK2.715 billion in the three months ended 30 June 2012, while operating profit (EBIT) fell by 18% to SEK1.427 billion and net profit slumped by 23% to SEK849 million.

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OVETEL Tele2 grows sales 10%, EBITDA drops 3%; LTE gains 70,000 users