Swedish telecom operator Tele2, with assets all over Europe, has released its financial figures for the fourth quarter and the year ended December 31, 2002. In the last quarter of 2002, the company posted an operating profit of SEK 315 million (EUR 34.4 million), against a loss of SEK 225 million in the same period during 2001. Net profit in Q4 ended at SEK 360 million. For the full year Tele2 posted a 25% increase in revenues. It posted SEK 31,282 million in revenues. Lars-Johan Jarnheimer, President and CEO of Tele2 stated: "In 2002 Tele2 grew faster than its competitors with organic revenue growth of 25%, but we also managed to achieve record cash flow of SEK 1.9 billion and to increase pre-tax profits by more than SEK 2.7 billion to SEK 796 million. Maintaining this balance between customer growth, profitability and cash flow generation will remain a priority in 2003 and as a result of this we expect the board to propose a dividend for the fiscal year 2003.
