July 16, 2014 / 5:20 AM / in 4 years

Tele2 Q2 core profit beats forecasts

STOCKHOLM, July 16 (Reuters) - Swedish telecom operator Tele2 posted second-quarter core earnings above forecasts on Wednesday and said its revenue outlook for the year had been hit by a devaluation of the Kazakh currency and lower handset sales.

Tele2’s earnings before interest, tax, depreciation and amortisation (EBITDA) were 1.47 billion crowns ($215 million), excluding its Norwegian business which it has agreed to sell to rival TeliaSonera.

That compared with a forecast of 1.42 billion in a Reuters poll of analysts and 1.47 billion a year ago.

Tele2 adjusted its forecasts for the year to reflect the sale of its Norwegian business and said it now expected revenue of between 24.8 and 25.2 billion crowns, EBITDA earnings of between 5.7 and 5.8 billion, and a capex level of between 3.5 and 3.8 billion.

Its previous forecast was for revenue of around 30 billion crowns in 2014, EBITDA earnings of around 6.0 billion, and a capex level of about 4.5 billion. ($1 = 6.8185 Swedish Crowns) (Reporting by Sven Nordenstam)

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