In Sweden, Telia said it delivered a record quarter, with service revenue growth of 4.8%, supported by consumer, TV, broadband and mobile services
In sum – what to know:
Revenue stable, profits down – 2025 revenue held at SEK 81 billion, while net income fell to SEK 4.3 billion.
Cash flow strengthened – Free cash flow increased to SEK 9.3 billion, supported by higher adjusted EBITDA and favorable working capital dynamics.
Cost discipline continues – Telia launched talks to cut around 600 roles while investing in growth areas.
Nordic carrier Telia Company reported flat revenue and lower net income in 2025 compared with 2024, reflecting continued service revenue growth and cost discipline offset by a significant non-cash provision related to asset retirement obligations.
Full-year revenue amounted to SEK 81 billion ($9.07 billion), unchanged year on year, while total net income declined to SEK 4.3 billion from SEK 7.8 billion in 2024. The telco noted that the decline was largely driven by a SEK 3.7 billion non-cash provision increase related to asset retirement obligations in Sweden and Finland.
Adjusted EBITDA increased 5.2% year-on-year in 2025, supported by service revenue growth and lower operational expenses. Service revenue grew 1.5% like for like, driven by Sweden, the Baltics and other operations.
Capex excluding spectrum and leases declined to SEK 12.8 billion from SEK 13.4 billion the previous year.
In Sweden, Telia delivered a record quarter, with service revenue growth of 4.8%, supported by consumer, TV, broadband and mobile services. “We saw Sweden deliver its best quarter in modern times with revenue growth reaching almost 5%, supported by business and mission-critical services, but also strong growth in consumer and an improved trend on mobile. For 2026, we see continued good financial momentum and therefore, guide for service revenue and EBITDA growth of around 2% and around 3%, respectively, and a stable Capex level,” the company’s president and CEO, Patrik Hofbauer, told a conference call with investors.
Performance was weaker in Finland, where service revenue and EBITDA declined, mainly due to the enterprise segment and the closure of non-core businesses.
“In Norway, service revenue was close to flat despite lower mobile wholesale revenue since mobile end user and fixed revenue improved clearly. This was mainly driven by pricing and resulted in significant ARPU growth across our core services,” the executive added.
In the Baltics, the carrier stated that Lithuania delivered strong performance across product areas, including the launch of the country’s first private 5G standalone network and the start of construction of a new data center near Vilnius. Estonia reported modest growth and rising customer satisfaction, it added.
As part of its cost and efficiency efforts, Telia initiated union negotiations in January 2026 concerning a proposed reduction of approximately 600 positions, while opening 150 new roles in growth areas such as security, data sovereignty and mission-critical connectivity.
In November 2025, Telia has reached an agreement with Nokia to enhance its 5G networks in Finland, Sweden, Norway, Estonia and Lithuania, through the deployment of Nokia’s cloud-native 5G Standalone (SA) Core.
