Telenor organic sales growth improves to 2% in Q2

News General Scandinavia 23 JUL 2013
Telenor organic sales growth improves to 2% in Q2
Telenor has maintained its outlook and announced a share buyback, after reporting improved organic sales growth and margins in the second quarter. After flat sales in Q1 on an organic basis, growth improved to 2 percent in Q2, allowing the operator to maintain its guidance for 2-4 percent organic revenue growth this year. 

Sales totaled NOK 25.75 billion, and adjusted EBITDA improved to NOK 8.86 billion from NOK 8.06 billion a year earlier, helped by reduced losses in India and growth in Thailand, Sweden and Norway. The EBITDA margin rose to 34.4 percent from 31.8 percent, and Telenor expects a result around 34 percent for the full year. 

Telenor's net profit jumped to NOK 3.25 billion from NOK 2.07 billion a year ago, thanks to improved results from its stake in Vimpelcom. The company booked a loss of NOK 385 million on the dilution of its stake in Vimpelcom, while also taking an impairment of NOK 311 million on its stake in pay-TV provider C More. 

Telenor increased capex to NOK 3.48 billion from NOK 2.96 billion, while operating cash flow was also higher, at NOK 5.37 billion versus NOK 5.1.6 billion a year ago. The company will buy back up to 1 percent of its outstanding shares under the new buyback programme running until its AGM next year. The group maintained its guidance for annual capex at 12-14 percent of revenues this year, excluding licence and spectrum costs. 

Categories:

General

Companies:

Telenor,  Vimpelcom

Regions:

Asia,  Eastern Europe,  Scandinavia

Tags:

Voice services, Data services, Financial figures, Internet Access

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