Telia Company AB (publ) (TELIA)

Nasdaq Stockholm | Tech | Telecommunications (mobile, broadband and network infrastructure)

AI Signal

HOLD

Sentiment

8/10

Risk

5/10

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Sentiment has improved post-Q1 on reiterated guidance, margin/cost discipline and better cash generation supporting the dividend, while lower operating profit and ongoing capex/leverage keep enthusiasm in check.

Exchange

Nasdaq Stockholm

Type

Tech

Sector

Telecommunications (mobile, broadband and network infrastructure)

Market Cap

$18.0B

12 days ago 25 Apr 2026

Why HOLD ?

- **HOLD**: defensive cash-flow profile, but limited structural growth. - A key near-term checkpoint (**Q1 2026**) may offer better timing to add after clarity on cash flow and guidance. - **Debt/capex** needs and a history of provisions justify caution despite improving sentiment.

Hold; consider adding 10–20% after Q1 if FCF/EBITDA is strong, otherwise trim.
Bull case: - **Dividend support** and positioning into the ex-date may provide near-term support.

Recent News

The Q1 2026 report (24 Apr) showed service revenue +2.1% LFL and adjusted EBITDA around SEK 7.94bn (in line/slightly above consensus), with improved free cash flow to SEK 1.9bn and higher net profit (EPS SEK 0.42). Telia reiterated full-year guidance (service revenue ~2%, EBITDA ~3%, capex <SEK 13bn, FCF ~SEK 9bn). The share price reacted positively, trading up toward the low-50s SEK area. Telia also agreed to acquire the MVNO Telness (subject to approvals) to strengthen its B2B/SME offering.

15 May 2026 — Valokuitunen stake increase closing

Bull case

- **Dividend support** and positioning into the ex-date may provide near-term support. ...

Bear case

- Market/management expects a **soft Q1** with weaker cash flow (interest/working capital). ...

Catalysts

Upcoming triggers with dates and expected impact...

Dilution Risk

Assessment: Low

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