Press release

Today, Telia Company released its 2023 Annual & Sustainability Report, reflecting on the year that was and detailing its financial performance, strategic initiatives and sustainability efforts.

Patrik Hofbauer, President and CEO of Telia Company, says: “While this Annual & Sustainability Report covers the year before I joined Telia, I am inspired by – and proud to share – the progress that this company made in 2023. The report highlights how Telia achieved broad-based EBITDA growth while improving everything from Net Promoter Scores to capital allocation, customer experience, employee skills and the sustainability of our business. Some of the key figures are listed below but there were far too many highlights to mention them all, so I encourage all of our stakeholders to read the full report.

“While we believe we have a good strategy in place, it’s very important to me, my leadership team, the board, our employees, our customers and our shareholders, that we continue to execute. In fact, given the importance of digitalization in the modern world, I believe that Telia makes a vital contribution to all of the countries in which it operates. Sustainability is on top of our agenda and informs everything we do, helping us to create value for all of our stakeholders while reducing our negative impact on the planet.”

Financial and operational highlights

• SEK 75.9 billion (73.0) service revenue
• SEK 30.3 billion (29.0) adjusted EBITDA
• SEK 6.7 billion (5.1) operational free cash flow
• SEK 2.00/share (2.00) proposed dividend
• 2.32x (2.35x) net debt/adjusted EBITDA
• 18.6 million (17.7) mobile subscriptions
• 3.2 million (3.2) fixed broadband subscriptions
• 3.4 million (3.4) TV subscriptions

Sustainability highlights

• CO₂e emissions generated by Telia’s own operations (scope 1 and scope 2 market-based emissions) have been reduced by 87% since 2018, and the company is well on its way to reaching its goal of a 90% reduction by 2030
• By the end of the year, suppliers responsible for 52% of Telia’s supply chain emissions from purchased goods and services and capital goods had set science-based climate targets and suppliers responsible for an additional 11% of these emissions had committed to setting such targets within two years
• Telia’s net-zero target – to reduce CO₂ emissions by at least 90% across the whole value chain and neutralize the rest by 2040 – was validated by the Science Based Targets initiative (SBTi)
• Telia uses renewable electricity for its own operations and networks across all markets
• 27% of all mobile phones sold to B2B customers were sold under a circular “Device as a Service” model, which is simpler and more sustainable for customers and enables Telia to scale the reuse and recycling of devices
• 72% of waste from Telia’s own and network operations was reused or recycled
• Telia’s remote meeting services and IoT solutions for buildings, transport and utilities enabled its customers to reduce their CO₂ emissions by more than 433,000 tons, equivalent to the emissions arising from more than 3.1 million return trips by air between Stockholm and Helsinki
• Since 2021, Telia has reached 1.4 million individuals with digital inclusion initiatives, focusing on strengthening the digital skills of seniors, children, immigrants and small companies.
• Telia was ranked first among 85 telecommunications companies and second among 1,108 companies globally across various industries for its efforts and commitment to children’s rights by Global Child Forum
• At year-end, 41% of Telia’s Extended Leadership Team (of ~150 managers) were women. Telia’s goal is a 50/50 split
• Telia retained its Platinum medal from EcoVadis, placing it among the top 1% of companies surveyed, as well as the highest possible rating from MSCI ESG Research, and received an A- Climate Change score from CDP

The English and Swedish versions of the report are now available on Telia Company’s website. The Swedish report is also available in European Single Electronic Format (ESEF).

This information is information that Telia Company is obliged to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 08:00 AM CET on March 19, 2024.

NOTES TO EDITORS

More details on Telia’s net-zero science-based targets approved by SBTi are available here.

For more information, contact Telia Company’s press office on +46 (0)771 77 58 30, visit our newsroom and follow us on LinkedIn and X. To download our logo, high-resolution images of Telia leaders, offices and solutions or B-roll footage for editorial use, visit our media bank.

ABOUT TELIA

Telia Company (STO: TELIA) is a Nordic and Baltic telecommunications leader and Nordic media house, serving consumers, businesses and public sector customers with essential digital infrastructure, ICT services and entertainment. Our 18,000 talented colleagues serve millions of customers every day in one of the world’s most connected regions. We’re the hub in the digital ecosystem, providing 25 million mobile, broadband and TV subscriptions that empower people, companies and societies to stay in touch with everything that matters 24/7/365. Learn more at www.teliacompany.com