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Telenor third quarter pre-tax profit rises to $1.5 billion news
27 October 2012

Norwegian telecom major Telenor ASA has reported a 2.5-per cent year-on-year increase in its pre-tax earnings (EBITDA) to 8.8 billion Norwegian kroner ($1.5 billion), boosted by higher mobile revenue and increasing subscriptions in Norway and Sweden.

Telenor group reported revenues of NOK 25.3 billion, representing an organic revenue growth of 3 per cent. EBITDA margin was 34.8 per cent, and operating cash flow was NOK 5.5 billion.

Telenor, the Nordic region's largest phone operator by revenue, also saw its shares rise the most in almost four months.

Telenor expects full-year revenues to grow 4 per cent with continued growth in new markets, including India.
"For the full year 2012, we expect organic revenue growth of around 4 per cent and operating cash flow margin of 23 to 24 per cent, not including India. With continued growth above peers and improved operational efficiency we aim for an operating cash flow of NOK 28 to 30 billion in 2015," Jon Fredrik Baksaas, president and CEO of Telenor, said.

He said the goal for the coming years is to stay ahead and drive value creation.

"I am proud of our recent launch of 4G services in 11 cities in Norway. The rollout continues at rapid speed, and more than nine out of every ten Norwegian will have access to our 4G network in 2015. Telenor's significant and long-term investments enable us to deliver superior coverage and network quality, catering for the strong uptake of data services. The increased data usage and migration to bundled tariffs contributed to revenue growth this quarter," said Baksaas.

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Telenor third quarter pre-tax profit rises to $1.5 billion