Telia CEO Allison Kirkby used her final quarterly results at the company before leaving for UK operator BT to highlight its sustainability and digital credentials, backing the company’s incoming boss Patrik Hofbauer to build on solid foundations already in place.

In its Q4 earnings statement Kirkby noted she was “proud to be handing over a business built on world-leading digital infrastructure” alongside “a well-deserved reputation for embedding sustainability in our sector and beyond”. The reins are being handed over next month.

In terms of its Q4 and full year 2023, the executive noted the company had “delivered what we set out to achieve, despite the ongoing impact of macro factors including rising financing costs and contracting advertising markets” the latter of which hit its TV business.

Earlier this week Telia flagged it would book non-cash impairments totaling SEK4.1 billion ($360 million) including a SEK900 million charge related to its TV and media business. For Q4 2022 the company also booked significant charges following a review of its assets at the time.

The operator group’s revenue for Q4 was broadly flat at SEK23.1 billion. In Q4 2023 it booked a net loss of SEK2.7 billion compared to a loss of SEK18.8 billion in Q4 2022 as a result of the respective non-cash impairments.

It noted adjusted operating income without the charges would have been up 10 per cent to SEK2.4 billion.