Tele2 to undergo “significant changes” in 2025
January 29, 2025

Tele2, the Sweden-based multinational telco, has announced its consolidated results for the full year and fourth quarter of 2024, with an Equity Free Cash Flow (EFCF) reaching 4.4 billion SEK (€0.38bn) during the full year. Consistent with Tele2’s financial policy, the Board of Directors proposes to distribute 100 per cent of the EFCF, corresponding to an ordinary dividend of SEK 6.35 per share.
After delivering critical migrations in 2024, the company says it has initiated a deep transformation to improve profitability in 2025, and to become “a faster and more agile company”. The transformation includes a downsizing of the workforce by around 15 per cent within the coming 12 months, subject to union negotiations.
Financial highlights:
- Full year 2025 guidance: Low single-digit organic growth of end-user service revenue, mid- to high single-digit organic growth of underlying EBITDAaL, and around 13 per cent capex to sales (excluding spectrum and leases).
- End-user service revenue of SEK 5.5 billion increased by 2 per cent organically compared to Q4 2023 due to growth across operations. Total revenue of SEK 7.8 billion increased by 1 per cent organically compared to Q4 2023.
- Underlying EBITDAaL of SEK 2.7 billion increased by 1 per cent organically compared to Q4 2023 mainly driven by end-user service revenue growth.
- Profit after financial items (EBT) of SEK 1.2 (1.1) billion in Q4 2024.
- Net profit from total operations of SEK 1.0 (0.9) billion and earnings per share of SEK 1.40 (1.35) in Q4 2024.
- Equity free cash flow of SEK 0.8 (0.5) billion in Q4 2024. Over the last twelve months, SEK 4.4 billion has been generated, equivalent to SEK 6.3 per share.
- The Board of Directors proposes an ordinary dividend of SEK 6.35 per share, equivalent to 100 per cent of 2024 equity free cash flow.
- Tele2 delivered full year results in accordance with guidance. End-user service revenue growth of 3 per cent organically, underlying EBITDAaL growth of 2 per cent organically, and capex to sales of 14 per cent (excluding spectrum and leases).
Jean Marc Harion, President and Group CEO of Tele2 , commented: “Tele2 is a global reference for challenger telcos. On top of that, there is an untapped potential in the company, and we must unleash it. We will reduce complexity, reinforce cost discipline and carefully select investments to focus on those that make a real difference for our customers. Our organisation will undergo significant changes during 2025. This will be a challenging time for all our colleagues, especially those directly affected by the reorganisation. Myself and all Tele2 leaders carry a great responsibility in the coming months to ensure that this process is as transparent, respectful and supportive as possible. These changes are however necessary to make Tele2 a faster and more agile company, better equipped to swiftly capture market opportunities. I am very pleased to see the engagement and commitment from all colleagues to create a new Tele2, built with our challenger heritage as the foundation. 2025 will become a year full of challenges, just how it is supposed to be when raising ambitions, and I am certain that our new Tele2 will soon be fit to deliver more value to our shareholders.”