STOCKHOLM, Sweden, April 23, 2002 (PRIMEZONE) -- In connection with today's Annual General Meeting, Telia is releasing the following preliminary earnings for the first quarter of 2002. No further information will be released until May 6 when the quarterly report is published. First Quarter in Brief:
-- The Group's net sales increased 2 percent to approximately
MSEK 13,900 (13,592).
- Core businesses increased 9 percent to approximately
MSEK 13,600.
-- Underlying EBITDA was approximately MSEK 3,350 (MSEK 3,348).
- Core businesses + 5 percent
-- Underlying EBITDA margin was approximately 24 percent.
-- Income after financial items was approximately MSEK 500
(MSEK 502).
-- CAPEX totaled approximately MSEK 2,200 (MSEK 3,568).
-- The number of employees was 16,804 (29,936).
"We see a positive trend in our core businesses and we can already see the effects of the streamlining measures in Telia Internet Services and Telia International Carrier. As we already announced, we are stepping down our investments now," said Marianne Nivert, CEO.
In March, Sonera and Telia announced a plan to merge. The merger will create the leading telecommunications group in the Nordic and Baltic region.
The combination of Telia and Sonera will be implemented through an exchange offer made by Telia to all shareholders of Sonera. This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Sonera. Any offer in the United States will only be made through a prospectus which is part of a registration statement on Form F-4 that will be filed with the U.S. Securities and Exchange Commission (the "SEC"). Sonera shareholders who are U.S. persons or are located in the United States are urged to carefully review the registration statement on Form F-4 and the prospectus included therein, the Schedule TO and other documents relating to the offer that will be filed by Telia with the SEC because these documents will contain important information relating to the offer. You are also urged to read the related solicitation/recommendation statement on Schedule 14D-9 that will be filed with the SEC by Sonera relating to the offer. You may obtain a free copy of these documents after they are filed with the SEC and other documents filed by Telia and Sonera with the SEC at the SEC's web site at www.sec.gov. Once such documents are filed with the SEC, you will also be able to inspect and copy the registration statement on Form F-4, as well as any documents incorporated by reference therein, the Schedule TO and the Schedule 14D-9 at the public reference room maintained by the SEC at 450 Fifth Street, NW, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information about the public reference room. These documents may also be obtained free of charge by contacting Telia AB, Investor Relations, SE-12386 Farsta, Sweden Attention: External Communications and Investor Relations (tel: 46 8 7137143), or Sonera Corporation, Investor Relations, Teollisuuskatu 15, P.O. Box 106, FIN-00051 SONERA, Finland, Attention: Investor Relations (tel: 358 20401). YOU SHOULD READ THE PROSPECTUS AND THE SCHEDULE 14D-9 CAREFULLY BEFORE MAKING A DECISION CONCERNING THE OFFER.
Telia is the Nordic leader in telecommunications. Over the past year, we have streamlined the Group, focusing our core businesses making the company more flexible. Our four core businesses are: Mobile communications, Internet services, International carrier operations and Fixed network operations. Telia is listed on Stockholmsborsen. Sales 2001 totaled MSEK 57,196 and the number of employees was 17,149.
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