TeliaSonera reports 0.7% profit dip in FY09

TeliaSonera reported a marginal drop in net profit in 2009 yesterday, as cost cutting and a good geographical spread helped the firm make the most of increased revenues and ebitda margin during the year.
Net profit was down 0.7% year-on-year to 21.28 billion kronor (€2.18 billion) in 2009, but operating income grew 6% to 30.32 billion kronor, revenue 5% to 109.1 billion kronor, and ebitda margin from 31.8% to 33.6%.
CEO Lars Nyberg said the financial crisis affected several of TeliaSonera's markets during the year, but that the company was able to keep revenues in local currencies intact due to “a healthy mix of mature and emerging markets.
The group added 1.1 million subscribers during the year, taking its total to 17 million. Growth was strongest in Spain, TeliaSonera said, where majority-owned Yoigo now has 1.5 million customers.
Traffic volumes in its core Nordic and Baltic markets meanwhile grew by nearly 200%.
Nyberg said TeliaSonera is well positioned for the future, and financially strong
“The improvement in (operating) profitability and cash flow is driven by actions we can control ourselves, namely successful efficiency improvements, cost reductions and careful capital spending,” he added.