Telia hunts for fresh cost cuts, reports TV unit hit

first_img Telia CEO Allison Kirkby (pictured) announced a forensic-level examination of its cost base in an attempt to make efficiency savings, during her inaugural financial results statement at the helm of the operator group.She noted “inefficiencies versus our peers” had already been identified and finding further savings was one of her immediate priorities alongside measures to “reinvigorate customer experience”.In Q2 the company reported results were better than expected, but still “clearly impacted by the Covid-19 pandemic”. As flagged by Telia in March, its broadcast division took the brunt of the virus hit with revenue for the division down 30 per cent year-on-year.It estimated the pandemic wiped SEK1 billion ($110.5 million) from service revenue, on lower roaming revenue and dips in earnings from pay-TV and advertising.Across the group the company made a Q2 net loss of SEK2 billion, compared with a profit of SEK1.7 billion in the same quarter of 2019.It noted booking an impairment to cover the divestment of its interest in Turkcell took almost SEK3.5 billion off its bottom line. Net sales increased 2.7 per cent to SEK21.8 billion.Kirkby took charge of the operator in early May and yesterday revealed her top team including the promotion Per-Christian Morland from its Norway CFO to group CFO, and appointment of Rainer Deutschmann as group COO.Deutschmann is currently COO at Dialog Axiata and will join before the end of 2020. Subscribe to our daily newsletter Back Tags Telia claims positive start to strategy revamp Chris Donkin Telia targets cost cuts with new enterprise IoT play Author Allison KirkbyQ2 earningsTelia Home Telia hunts for fresh cost cuts, reports TV unit hit Previous ArticleEricsson eyes 2021 for first European SA 5G networksNext ArticleUS authorities target Twitter hack Telia reveals revamp to boost infrastructure assets Related Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 17 JUL 2020 last_img

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