2024-01-30 15:25:24 ET
Tele2 AB (publ) (TLTZF)
Q4 2023 Earnings Call Transcript
January 30, 2024, 04:00 AM ET
Company Participants
Kjell Johnsen - President and CEO
Charlotte Hansson - EVP, CFO
Hendrik De Groot - EVP, CCO
Stefan Trampus - EVP, Tele2 B2B
Conference Call Participants
Andrew Lee - Goldman Sachs
Oscar Ronnkvist - ABG Sundal Collier
Andreas Joelsson - Carnegie
Stefan Gauffin - DNB
Nick Lyall - Societe Generale
Ajay Soni - JP Morgan
Siyi He - Citi
Maurice Patrick - Barclays
Fredrik Lithell - Handelsbanken
Keval Khiroya - Deutsche Bank
Zahir Ramcharan - Redburn Atlantic
Usman Ghazi - Berenberg
Viktor Hogberg - Danske Bank
Adam Fox-Rumley - HSBC
Presentation
Operator
Good day, and thank you for standing by. Welcome to the Tele2 Fourth Quarter Interim Report 2023 Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Kjell Johnsen. Please go ahead.
Kjell Johnsen
Thank you very much, operator. Good morning, everyone, and welcome to Tele2's report call for the fourth quarter of 2023. We are very happy that you are taking the time with us this morning. And with me here in Kista today, I have Charlotte Hansson, our Group CFO; Hendrik De Groot, our Chief Commercial Officer; and Stefan Trampus, our Head of B2B.
So please turn to Slide 2 for the highlights. 2023 turned out to be eventful in many ways. And if I were to single out a few specific events beyond the financial ones, I would mention the Financial Times ranking of Tele2 as the number one among Europe's climate leaders, as well as the top spots our B2B team recently achieved in the Swedish quality survey, SKI, based on real customer experience. So while these achievements make us proud, we will of course continue our work on customer experience and sustainability going forward.
I'm glad to report a strong end of 2023 as we grew organic underlying EBITDAaL by 4% in the fourth quarter, while maintaining solid end-user service revenue growth of 3%. For the full year, we grew end-user service revenue by 4% and underlying EBITDAaL by 2%, which combined with 13.5% CapEx to sales ratio was in line with our 2023 guidance in a challenging year largely characterized by inflation. Following strong equity-free cash flow during the year, our balance sheet remains strong with leverage at the bottom end of our target range. Consequently, our Board of Directors proposes an ordinary dividend of SEK6.90 per share, an increase from SEK6.80 last year to be paid in two tranches in May and October....
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Tele2 AB (publ) (TLTZF) Q4 2023 Earnings Call Transcript