Telenor revenues dip to NOK 30.45 bln in mainly stable Q1

News General Global 4 MEI 2017
Telenor revenues dip to NOK 30.45 bln in mainly stable Q1

Telenor reported mainly stable results for the first quarter, as it continues to simplify and streamline the company. CEO Sigve Brekke highlighted the strong data consumption in emerging Asia and the solid fibre momentum in Norway as well as Sweden but said the company was still plagued by intense competition in the prepaid market.

Revenues for the quarter slipped to NOK 30.45 billion from 31.49 billion the year before, with organic growth reaching 0.2 percent from 1.3 percent. Mobile subscription & traffic revenues increased 1 percent on an organic basis. Organic EBITDA dipped lower to NOK 11.46 billion from 11.62 billion, with the EBITDA margin at 38 percent, up 1 percentage point from the year before. Profit after taxes slid to NOK 4.16 billion from 4.25 billion. Capex amounted to almost 15 percent of revenues, from 16.4 percent the year earlier, while the free cash flow went to NOK 2.2 billion.

The number of mobile subscriptions increased by 2 million during the quarter, raising the total to 172 million. Growth was mainly pushed by increases in Bangladesh and Pakistan, partly offset by decreases in Malaysia and Thailand.

Brekke believes the company is laying down a solid foundation for the future and is guiding for organic revenue growth of 1-2 percent and an EBITDA margin of about 37 percent. The outlook reflects the new group structure, with India presented as discontinued operations.

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