Ahead of the year-end results announcement on January 31, TeliaSonera (STO:TLSN)(HEX:TLS1V)(LSE:TEE)(Nasdaq:TLSN) specifies non-recurring items that in total will have a positive impact on Operating income of SEK 189 million in the fourth quarter of 2012. In addition, a positive one-time effect of SEK 1,225 million related to a net deferred tax liability, as a result of the reduction of the corporate income tax in Sweden from 26.3 percent to 22.0 percent, will be recorded in the fourth quarter of 2012.
TeliaSonera has decided to make a non-cash goodwill impairment charge in Norway related to NetCom. The charge of SEK 2,914 million relates to the substantial goodwill amount created at the acquisition of the company in 2000, and the current assessment of the achievable long-term return on investment. A goodwill write-down of SEK 2,752 million related to NetCom was previously made in the second quarter of 2012.
In November, 2012, the MegaFon initial public offering (IPO) was successfully priced at USD 20 per GDR and per share and TeliaSonera reduced its ownership from 35.6 percent to 25.2 percent. As part of the transaction, TeliaSonera will recognize a capital gain of SEK 5,378 million in the fourth quarter of 2012.
In December, 2012, TeliaSonera signed an agreement to divest its Norwegian subsidiary NextGenTel to Telio, a company listed on the Oslo Stock Exchange. As a result, TeliaSonera will recognize a loss of SEK 1,550 million in the fourth quarter of 2012 from the write-down of goodwill.
|Capital gain from a reduction in ownership in MegaFon (Russia)||SEK 5,378 million|
|Non-cash goodwill write-down in NetCom (Norway)||SEK -2,914 million|
|Non-cash goodwill write-down in NextGenTel (Norway)||SEK -1,550 million|
|Other non-recurring items, such as restructuring charges, etc.||SEK -725 million|
|Total impact on Operating income in the fourth quarter of 2012||SEK 189 million|
TeliaSonera’s Year-end Report will be announced on Thursday, January 31, 2013 at around 7:00 (CET).
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 8 a.m. CET on January 24, 2013.
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Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.
TeliaSonera provides network access and telecommunication services in the Nordic and Baltic countries, the emerging markets of Eurasia, including Russia and Turkey, and in Spain. TeliaSonera helps people and companies communicate in an easy, efficient and environmentally friendly way. Our ambition is to be number one or two in all our markets, providing the best customer experience, high quality networks and cost efficient operations. TeliaSonera is also the leading European wholesale provider with a wholly-owned international carrier network. In 2011, net sales amounted to SEK 104 billion, EBITDA to SEK 36.9 billion and earnings per share to SEK 4.20. The TeliaSonera share is listed on NASDAQ OMX Stockholm and NASDAQ OMX Helsinki. Read more at www.teliasonera.com.
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