Tele2 AB Class B

TEL2 B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Tele2 Earnings: Cautious 2026 Outlook as Cost Levers Reach Some Limits

Javier Correonero

Jan 28, 2026

Tele2 ended 2025 strongly, with service revenue growing organically by 4% year over year to SEK 5.6 billion, while underlying EBITDAaL rose 13% supported by sharp cost controls. This lifted EBITDAaL margin to 39.2% for the full year, up from 35.9% a year ago.

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Tele2 AB Class B

Tele2 Earnings: Cautious 2026 Outlook as Cost Levers Reach Some Limits

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