Solid revenue and earnings development

Net sales in reported currency increased 8.9 percent to SEK 3,557 million (3,268). Service revenues increased 5.6 percent in local currency, excluding acquisitions and disposals, driven by both mobile and fixed service revenues. The decline in fixed telephony was more than compensated for by growth mainly in fixed low margin transit revenues.

Adjusted EBITDA, in local currency, excluding acquisitions and disposals increased 5.8 percent, following both service revenue growth and efficiency improvements that resulted in lower costs. The adjusted EBITDA margin decreased slightly to 34.5 percent (34.9).

The number of mobile subscriptions increased by 34,000, broadband subscriptions increased by 8,000, and TV subscriptions increased by 13,000.

SEK in millions,
except margins, operational data and changes

Jan-Dec
2017

Jan-Dec
2016

Chg

(%)

Net sales

3,557

3,268

8.9

Change (%) local organic

7.0

   

of which service revenues (external)

2,861

2,662

7.5

change (%) local organic

5.6

   

Adjusted EBITDA

1,227

1,139

7.7

Margin (%)

34.5

34.9

 

change (%) local organic

5.8

   

Adjusted operating income

664

583

13.9

CAPEX excluding license and spectrum fees

552

495

11.5

Subscriptions, (thousands)

     

Mobile

1,352

1,318

2.6

of which machine to machine (postpaid)

141

89

58.2

Fixed telephony

371

417

-11.0

Broadband

410

402

2.0

TV

242

229

5.7

Employees

2,891

3,081

-6.2