contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


telia-strategy-progressing-valuation-picture-has-changed

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Joni Grönqvist

Telia Company operates in the telecom sector. The company delivers a range of services within voice, IP and capacity services, mainly through wholly owned international carrier networks. Customers are found among private players and corporate customers. The largest operations are found in the Nordic countries, the Baltics and Europe. The company was formed as a merger of Telia and Sonera. The head office is located in Solna.

Telia is involved in a massive fiber optic business deal on a Finnish scale. As CapMan’s fund exits, Telia is increasing its ownership in Valokuitunen to 49%, while the remaining stake is transferred to the investment firm Brookfield. Telia’s share of the purchase was €30M, which helps in estimating the overall scale of the transaction.                   teliacompany.com              Telia to increase ownership in Finland’s leading fiber operator Valokuitunen    Reinvent better connected living

Here are Joni’s concise comments on how Telia and Lyse are forming a 50/50 joint venture that combines Telia’s and ice’s mobile radio access networks (RAN) in Norway                    Inderes              Telia ja kilpailija Ice yhteisyritykseen RAN-verkoissa Norjassa - Inderes    Yhdistetyn verkon odotetaan olevan operatiivinen vuoden 2026 toisella neljänneksellä.

Now that’s a bold price target hike  “We are raising the target price for Telia’s share to 38.0 euros” Looks like euros and crowns got mixed up.                   Inderes              Telia Q4'25: Luottamus on parantunut - Inderes    Telian Q4 oli lukujen osalta hienoisesti odotuksiamme pehmeämpi, mutta ohjeistukset vuodelle 2026 olivat kuitenkin hieman ennusteita optimistisemmat. Isossa kuvassa luottamus tuloskasvuun ja erityisesti kassavirtaan on parantunut viimeisen vuoden...

Here are Joni’s quick comments on Telia’s results.  Telia’s Q4 report was slightly softer than our expectations in terms of figures, but the guidance was better than expected. Comparable revenue grew but fell slightly short of our forecasts. Earnings grew driven by cost savings, but earnings growth nevertheless slowed more than we expected. Cash flow was good in Q4 and throughout 2025, on the back of which the company proposed a dividend increase for the first time in a long while. The company’s operational guidance for 2026 was above our and consensus expectations. We are thus monitoring what gives confidence in the growth trajectory in line with the guidance. Additionally, the cash flow guidance for 2026 is positive and clearly covers the dividend.                   Inderes              Telia Q4’25 -pikakommentti: Tulos oli odotuksia pehmeämpi, mutta ohjeistus...    Tulos kasvoi kulusäästöjen ajamana, mutta tuloskasvu kuitenkin hidastui odotuksiamme enemmän. Kassavirta oli hyvää Q4:llä ja koko vuonna 2025, minkä siivittämänä yhtiö ehdotti pitkästä aikaa korotusta osinkoon. Yhtiön operatiiviset ohjeistukset...

Results are out:                   Inderes              Telia Company Year-end Report January - December 2025 - Inderes    On track to deliver on 2027 ambitionsFourth quarter summary- Revenue amounted to SEK 21.3 billion (21.4) and increased 1.6%, like for like. - Service revenue increased 2.1%, like for like, driven...                              vs expectations (per Inderes). A bit sluggish, and revenue, adj EBITDA, and EPS were below consensus.  No rocket-like growth is guided, and the dividend is being hiked cautiously.  Outlook 2026: Service revenue growth, like for like, around 2%, adjusted EBITDA growth, like for like, around 3%, CAPEX excluding spectrum and leases below SEK 13 billion and free cash flow around SEK 9 billion. -         For 2025, the Board of Directors proposes to the Annual General Meeting a dividend of SEK 2.05 per share (2.00).

Here are Joni’s preview comments as Telia reports its results on Thursday.  We forecast that revenue grew slightly and profitability improved, driven by cost savings. Combined, we expect earnings growth to be at the Q3 level in line with previous communications, meaning slightly slower than for the full year (5%). Like the consensus, we expect earnings growth to slow down in 2026 as the impact of major cost savings fades. Thus, we are following comments on how earnings growth could be kept brisk this year as well. Additionally, we expect the company to guide cash flow to be at a level of at least 8 billion, which is the minimum required level for returning to a sustainable dividend distribution base.                   Inderes              Telia Q4’25 -ennakko: Vielä on hyvää tuloskasvua - Inderes    Odotamme konsensuksen tavoin tuloskasvun hidastuvan vuonna 2026, kun mittavien kulusäästöjen tehot loppuvat. Lisäksi odotamme yhtiön ohjeistavan kassavirran olevan vähintään 8 mrd. tasolla, mikä on pienin mahdollinen taso kestävälle...

Elisa reduced its workforce by about 400 people around Christmas, and it seems Telia has similar plans this spring: ”Telia Finland continues to build a simpler and more efficient organization. The company is initiating change negotiations that may lead to the reduction of approximately 200 roles in Telia’s Finnish operations.” So, this news only concerns the Finnish operations, but even 200 roles can have a small visible EBITDA impact at the group level. Telia Finland continues to simplify its organization to implement its growth strategy | Telia Finland Oyj

Telia Company

 In Q1, Telia's operational performance was good on a broad front, which increases our confidence in the strategy's efficiency and the earnings turnaround continuing. We forecast moderate earnings...

<p> In Q1, Telia's operational performance was good on a broad front, which increases our confidence in the strategy's efficiency and the earnings turnaround continuing. We forecast moderate earnings growth over the next few years with a stronger growth base. Additionally, strong balance sheet offers strategic room for maneuver. The main risk is related to the implementation of the strategy and, in particular, the realization of cost savings. The valuation of the share has become neutral as a result of the share price going up, but at the same time a strong dividend yield of 5% limits the downside. </p> 

	2021	22e	23e
Revenue	88,342.6	89,717.4	91,488.2
growth-%	-1.0 %	1.6 %	2.0 %
EBIT (adj.)	9,928.9	11,970.5	12,627.6
EBIT-% (adj.)	11.2 %	13.3 %	13.8 %
EPS (adj.)	1.54	1.84	2.06
Dividend	2.05	2.10	2.15
Dividend %	5.8 %	4.4 %	4.5 %
P/E (adj.)	23.0	26.1	23.3
EV/EBITDA	5.9	8.7	8.5

Telia: Strategy is progressing, but valuation picture has changed

Key Estimate Figures2022-04-27

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