Reduction of scope 1 and 2 emissions
Annual Report 2024 in brief
End-user service revenue of SEK 21,799 million increased by 3% compared to full year 2023 on an organic basis driven by growth across operations.
Total revenue of SEK 29,583 million increased by 2% compared to 2023 on an organic basis.
Underlying EBITDAaL of SEK 10,612 million increased by 2% organically compared to 2023 as end-user service revenue growth and cost savings from the Strategy Execution Program more than offset cost inflation.
Operating profit of SEK 5,817 million increased by 6% compared to 2023.
Net profit from total operations of SEK 3,870 (3,735) million and earnings per share of SEK 5.59 (5.40).
Continued intense rollout of 5G networks across markets, and of gigabit fixed broadband upgrades in Sweden, enabling faster, more reliable and secure services to our customers.
Ranked as the most sustainable company in Sweden by Time Magazine, and as the top Climate Leader 2024 in Sweden by the Financial Times.
Kinnevik, Tele2’s largest owner for decades, sold its shareholding to Freya Investissement, which became the largest shareholder in April 2024.
Kjell Johnsen stepped down as CEO and Jean Marc Harion took office as the new CEO in November. • The Board of Directors of Tele2 proposes an ordinary dividend of SEK 6.35 (6.90) per share, to be decided at the 2025 AGM.
Financial highlights
REVENUE
29,583 SEK million
NET PROFIT
3,870 SEK million
EBITDA
11,756 SEK million
2025 will be a year of transformation with a sharp focus on cost and simplification. Since December, we have been scrutinising every single expense to ensure that every SEK spent contributes to business growth or enhances the customer experience.
End-user service revenue
SEK million
Underlying EBITDAaL
SEK million
Our growth strategy
Our strategy builds on the deep insights we have into what our customers want more of, on our leading brands, and leverages the investments we have made in our networks, services and information technology. Focusing on customer needs, we are growing our business segments with a combination of volume and value growth.
Sustainability 2024
During 2024, Tele2 has continued on its path towards leadership in sustainability. Tele2 ambition is to enable a sustainable society by being a sustainable business, and thereby enabling our customers to be more sustainable. Being a sustainable business is a prerequisite for our long-term success as a company. To achieve this, sustainability must be an integrated part of our core business, and at the same time create shared value for customers, investors, employees, society at large, and other stakeholders.
To make sustainability a part of our everyday operations, we engage and communicate to our employees in sustainability matters in different ways. Examples of this includes our CEO’s company-wide all-hands meetings, news related to sustainability on our intranet, and live-streamed deep dive session with internal and external experts.