Telenor raised its outlook for full-year organic sales growth after a strong result in Q3. The company now expects organic revenue growth of 6-7 percent this year, up from an earlier outlook for around 5 percent growth. In the third quarter, sales rose to NOK 24.63 billion from NOK 24.10 billion a year earlier, with organic growth of 7 percent. The operator maintained its outlook for an adjusted EBITDA margin over 31 percent in 2011, after a result of 31.6 percent in the first nine months. Quarterly EBITDA rose to NOK 8.29 billion from NOK 7.89 billion a year ago. That excludes NOK 118 million in one-time gains from divestments as well as NOK 94 million in restructuring charges for job cuts. Net profit improved to NOK 2.59 billion from NOK 1.70 billion. Capex, excluding licences and spectrum, rose to NOK 2.76 billion or 11.2 percent of revenues, from 9.5 percent last year, and is expected to remain at 11-12 percent over the full year. Operating cash flow reached NOK 5.53 billion in Q3, little changed from a year ago. Telenor lowered its range for expected EBITDA losses at its Indian venture Uninor this year, to NOK 3.5-4.0 billion.
