Telia

2023 - 1 - 23

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Image courtesy of "DatacenterDynamics"

Telia warns of $2bn impairments in upcoming results (DatacenterDynamics)

Swedish telco Telia Company has warned its fourth-quarter results will be hit by several non-cash impairments totaling close to 19.8 billion crowns ($2 ...

[Reuters](https://www.reuters.com/business/media-telecom/telia-warns-19-bln-impairment-q4-2023-01-20/). Other write-downs from Telia included 300 million crowns ($29m) related to the C More brand following the decision to consolidate the C More business under TV4 in Sweden, and MTV in Finland during the coming years. Meanwhile, Telia said that its decision to 'fully dismantle the copper network in Sweden by 2026' resulted in a non-cash impairment of network assets of 400 million crowns ($39m).

Eurobites: Telia flags up impairment charges as headwinds bite ... (Light Reading)

Also in today's EMEA regional roundup: VMO2 upgrades its IP core with Juniper; Proximus addresses fiber rollout 'abuses'; job cuts at Spotify.

Blaming a "changed macro-economic landscape" and higher interest rates, Telia has set out impairment charges of 9.5 billion Swedish kronor (US$928 million) relating to Finland, SEK8.5 billion ($830 million) relating to Norway, and a total of SEK1.1 billion ($107 million) relating to Denmark and Latvia. Over the past year, says Juniper, Virgin Media O2 has seen 32% traffic growth on its mobile network, 16% growth in broadband data downloads and a peak traffic load of 22TB.Executives from Belgium's Proximus have met up with the country's minister of public enterprises, Petra De Sutter, to tackle "abuses" that have arisen in the operator's fiber rollout when the chain of subcontractors used to do the work becomes too long. Also in today's EMEA regional roundup: VMO2 upgrades its IP core with Juniper; Proximus addresses fiber rollout "abuses"; job cuts at Spotify.Nordic operator Telia has flagged up a number of non-cash impairment charges that will knock a hole in its forthcoming fourth-quarter and full-year 2002 results.

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Image courtesy of "Telecoms.com"

Telia to book $2 billion in write-downs as economy bites - Telecoms ... (Telecoms.com)

Telia Company's fourth quarter results will include the best part of US$2 billion worth of impairment charges as the economic situation impacts on its ...

[Get the latest news straight to your inbox. The Swedish is far from being the only one battling those macro-economic headwinds; energy prices and rising interest rates are affecting everyone. The operator was able to mitigate some of those headwinds, but “near-term energy prices and interest rates are having implications for our outlook,” Kirkby said. It’s fairly safe to predict we’ll see more of this type of announcement as the year pans out. The telco is due to publish its 2022 results on Thursday. It goes without saying that this is not great news for Telia.

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Image courtesy of "Digital TV Europe"

Telia reveals US$2bn impairment that will 'negatively impact' 2022 ... (Digital TV Europe)

Swedish telco Telia has warned investors that its 2022 financial results will be impacted by non-cash impairments in the order of $2 billion. Allison Kirkby.

Finally, the decision to fully dismantle the copper network in Sweden by 2026 resulted in a non-cash impairment of SEK 0.4 billion.” “Until the audit of the full year 2022 results is completed, all financial references are preliminary,” it added. In a short statement, the company said: “After conducting a review of the carrying value of Telia Company’s assets and reflecting the changed macro-economic landscape and increase in the company’s Weighted Average Cost of Capital (WACC) from increased market interest rates, there is a need to perform non-cash impairments of goodwill in a number of Telia Company’s business units.

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