Financials Telia Company AB

Equities

TELIA

SE0000667925

Integrated Telecommunications Services

Market Closed - Nasdaq Stockholm Other stock markets 04:29:32 30/04/2024 pm IST			5-day change	1st Jan Change
25.26 ^SEK	-2.02%		-8.28%	-1.83%

25/04	Transcript : Telia Company AB, Q1 2024 Earnings Call, Apr 25, 2024
25/04	Telia's Q1 core earnings slightly below expectations	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,65,558	1,38,884	1,44,793	1,04,830	1,01,173	99,325	-	-
Enterprise Value (EV) ¹	2,53,610	2,17,227	2,07,926	1,76,227	1,74,931	1,69,896	1,74,125	1,71,364
P/E ratio	22.7 x	-6.06 x	12.4 x	-7.34 x	322 x	17.2 x	14.4 x	12.9 x
Yield	6.09%	5.89%	5.79%	7.5%	7.77%	7.92%	8.01%	8.1%
Capitalization / Revenue	1.93 x	1.56 x	1.64 x	1.15 x	1.14 x	1.11 x	1.09 x	1.07 x
EV / Revenue	2.95 x	2.44 x	2.35 x	1.94 x	1.97 x	1.89 x	1.91 x	1.85 x
EV / EBITDA	8.14 x	7.08 x	6.96 x	5.81 x	5.78 x	5.48 x	5.4 x	5.17 x
EV / FCF	20.5 x	14.4 x	17.7 x	21.8 x	19 x	17.4 x	17.7 x	15.6 x
FCF Yield	4.88%	6.96%	5.64%	4.59%	5.26%	5.73%	5.66%	6.4%
Price to Book	1.82 x	2.21 x	1.79 x	1.63 x	1.89 x	1.83 x	1.92 x	1.95 x
Nbr of stocks (in thousands)	41,13,254	40,89,632	40,89,632	39,32,109	39,32,109	39,32,109	-	-
Reference price ²	40.25	33.96	35.40	26.66	25.73	25.26	25.26	25.26
Announcement Date	29/01/20	29/01/21	28/01/22	26/01/23	26/01/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	85,965	89,191	88,343	90,827	88,785	89,675	91,319	92,751
EBITDA ¹	31,170	30,702	29,861	30,328	30,254	31,015	32,258	33,156
EBIT ¹	13,452	11,560	10,033	11,332	10,862	12,147	13,062	13,308
Operating Margin	15.65%	12.96%	11.36%	12.48%	12.23%	13.55%	14.3%	14.35%
Earnings before Tax (EBT) ¹	9,354	-21,065	12,598	-12,783	1,105	7,721	9,300	10,403
Net income ¹	7,093	-22,912	11,680	-14,638	303	5,434	6,810	7,592
Net margin	8.25%	-25.69%	13.22%	-16.12%	0.34%	6.06%	7.46%	8.19%
EPS ²	1.770	-5.600	2.860	-3.630	0.0800	1.470	1.750	1.963
Free Cash Flow ¹	12,369	15,114	11,729	8,094	9,204	9,742	9,849	10,974
FCF margin	14.39%	16.95%	13.28%	8.91%	10.37%	10.86%	10.79%	11.83%
FCF Conversion (EBITDA)	39.68%	49.23%	39.28%	26.69%	30.42%	31.41%	30.53%	33.1%
FCF Conversion (Net income)	174.38%	-	100.42%	-	3,037.62%	179.28%	144.63%	144.54%
Dividend per Share ²	2.450	2.000	2.050	2.000	2.000	2.000	2.025	2.046
Announcement Date	29/01/20	29/01/21	28/01/22	26/01/23	26/01/24	-	-	-

¹SEK in Million²SEK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	23,380	21,818	22,293	22,456	24,261	23,069	23,297	21,997	23,098	21,274	22,331	22,119	23,595	-	-
EBITDA ¹	7,290	7,202	7,681	8,070	7,374	7,258	7,773	8,465	7,491	7,144	7,587	8,522	7,752	-	-
EBIT ¹	2,246	2,609	3,014	3,387	2,322	1,887	2,649	3,654	2,374	2,675	2,783	3,879	2,943	-	-
Operating Margin	9.61%	11.96%	13.52%	15.08%	9.57%	8.18%	11.37%	16.61%	10.28%	12.57%	12.46%	17.54%	12.47%	-	-
Earnings before Tax (EBT) ¹	1,181	1,407	2,121	2,404	-18,715	1,044	1,235	2,382	-3,300	1,022	1,784	2,631	1,849	-	-
Net income ¹	1,122	929	1,684	1,710	-18,801	603	762	1,790	-2,852	598	1,348	1,999	1,578	-	-
Net margin	4.8%	4.26%	7.55%	7.61%	-77.49%	2.61%	3.27%	8.14%	-12.35%	2.81%	6.04%	9.04%	6.69%	-	-
EPS ²	0.2700	0.2300	0.3700	0.4200	-4.780	0.1500	0.1900	0.4600	-0.7300	0.1500	0.3469	0.5150	0.3836	-	-
Dividend per Share ²	2.050	-	-	-	2.000	-	-	-	0.5000	-	0.2500	0.2500	1.275	0.5250	0.5250
Announcement Date	28/01/22	27/04/22	20/07/22	21/10/22	26/01/23	26/04/23	20/07/23	19/10/23	26/01/24	25/04/24	-	-	-	-	-

¹SEK in Million²SEK

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	88,052	78,343	63,133	71,397	73,758	70,571	74,800	72,039
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.825 x	2.552 x	2.114 x	2.354 x	2.438 x	2.275 x	2.319 x	2.173 x
Free Cash Flow ¹	12,369	15,114	11,729	8,094	9,204	9,742	9,849	10,974
ROE (net income / shareholders' equity)	9.07%	-29.9%	16.3%	-20.2%	9%	10.5%	13.4%	15.2%
ROA (Net income/ Total Assets)	3.34%	-9.34%	5.04%	-6.37%	2.36%	2.9%	3.38%	3.74%
Assets ¹	2,12,391	2,45,379	2,31,562	2,29,909	12,859	1,87,377	2,01,511	2,03,076
Book Value Per Share ²	22.10	15.40	19.70	16.30	13.60	13.80	13.10	12.90
Cash Flow per Share ²	6.610	7.050	6.690	5.950	6.270	6.270	6.470	6.400
Capex ¹	15,224	13,710	15,647	15,908	15,466	14,302	14,641	14,470
Capex / Sales	17.71%	15.37%	17.71%	17.51%	17.42%	15.95%	16.03%	15.6%
Announcement Date	29/01/20	29/01/21	28/01/22	26/01/23	26/01/24	-	-	-

¹SEK in Million²SEK

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Telia Company AB

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

25.78 SEK

Average target price

28.67 SEK

Spread / Average Target

+11.21%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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AMÉRICA MÓVIL, S.A.B. DE C.V.	+5.15%	58.89B
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CHARTER COMMUNICATIONS, INC.	-34.15%	35.71B

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