Valuation Result

Final Brand Value

Tele2 — Telecoms

Valuation date: 10/29/2026

Total Brand Value

SEK 4.3B

This result turns the selected legal, brand, benchmark and discount-rate assumptions into one reviewable brand value estimate.

Brand Strength

71/100

Royalty Rate

2.5%

Discount Rate

8.7%

Benchmark recommendation not unlocked for this result

Sensitivity snapshot

Quick decision check for discount rate, royalty rate and long-term growth.

Variable

Lower input

Current

Higher input

WACC (Discount Rate)

8.7%

-1.0%

SEK 4.9B

8.7%

SEK 4.3B

+1.0%

SEK 3.8B

Royalty Rate

2.5%

-0.5%

SEK 3.4B

2.5%

SEK 4.3B

+0.5%

SEK 5.1B

Terminal Growth

1.0%

-0.5%

SEK 4.1B

1.0%

SEK 4.3B

+0.5%

SEK 4.5B

Brand Strength changes can also be explored to show their potential effect on brand value. Contact info@brandvaluator.se if you want to explore this for strategy, planning and budgeting.

Revenue Base

SEK 15.5B

Legal Protection

74/100

Long-term Growth

1.0%

Recommendation basis

Brand-strength range • Pro

This reference case derives its royalty rate by applying the brand-strength score to a documented industry royalty ceiling.

This valuation uses benchmark support informed by external market references and curated internal calibration.

Use this section to confirm whether the result reflects unlocked benchmark guidance or a non-benchmark method.

Forecast profile

5 years explicit forecast

High growth: 2.0%

Base growth: 1.0%

Long-term growth: 1.0%

Value build

Value for planning period: SEK 1.3B

Terminal value: SEK 3.0B

How the valuation is built

Valuation Build

Royalty Relief DCF

Year	Revenue	Royalty	After Tax	PV
Y1	SEK 15,812,244,000	SEK 392,934,263	SEK 311,989,805	SEK 299,175,352
Y2	SEK 16,128,488,880	SEK 400,792,949	SEK 318,229,601	SEK 280,605,899
Y3	SEK 16,451,058,658	SEK 408,808,808	SEK 324,594,193	SEK 263,189,029
Y4	SEK 16,615,569,244	SEK 412,896,896	SEK 327,840,135	SEK 244,433,074
Y5	SEK 16,781,724,937	SEK 417,025,865	SEK 331,118,537	SEK 227,013,748
Explicit PV (Y1–Y5)				SEK 1,314,417,101
Terminal Value (undiscounted)				SEK 4,315,233,354
Terminal PV (discounted)				SEK 2,958,509,377
Total Brand Value				SEK 4,272,926,478

Supporting context

This section explains the evidence and judgment used to support the recommendation and the legal, brand and financial assumptions used in the valuation.

Reference case

Tele2

Prepared reference case

Indicative value of the Tele2 customer-services name, not Tele2 AB equity, mobile networks, spectrum, equipment, other consumer banners, or customer contracts. Comviq and Boxer are outside the name-value claim.

The 70% brand-exposure fraction is an analyst allocation, not a disclosed brand-sales split. The 3.50% name-only ceiling and 71/100 strength score imply 2.485%, not an observed licence. The SEK 385m opening hypothetical royalty is 11.2% of an approximately SEK 3,431m revenue-proportional allocation of FY2025 group EBIT, a directional 25%-of-profit check rather than Tele2-name segment profit. Brand-strength and legal components are outside-in judgments, not customer-survey results; this is not a legal opinion.

Informed by numerous sources including company reporting, investor materials, analyst research, market data and selected benchmark references where relevant.

Key inputs

Reported = directly sourced • Estimated = selected judgment • Inferred = derived from broader evidence • Assumed = inclusion choice

Revenue base

SEK 15.502bn estimated Tele2-name service-revenue exposureinferred

Planning growth

2.00% for 3 years, then 1.00%estimated

Long-term growth

1.00%estimated

Royalty rate selected

2.48%estimated

Discount rate

8.75%estimated

Brand Strength

71/100 (B)estimated

Legal analysis

74/100estimated

Company disclosures

These links lead to company-issued materials. BrandValuator cross-checks indicative estimates against multiple sources; the final assumptions and judgments are our own. Each input is labeled by evidence status above.

Tele2 Annual and Sustainability Report 2025: end-user service revenue and EBIT Tele2 business segments and brand portfolio

Legal Protection

trademark Status84

scope Of Rights78

risk Profile67

litigation69

contractual Rights72

goodwill Evidence79

regulatory Compliance69

Brand Strength

marketing Investment72

quality73

availability82

distinctive Brand Codes74

mental Availability76

consideration72

trust67

choice Share70

penetration75

price Elasticity59

revenue Premium64

margin Premium61

stability72