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Telenor reports ‘strong close’ to 2012, as revenue, EBITDA and net income all rise

13 Feb 2013

Norway’s Telenor Group has released its financial results for the last quarter of 2012, and for the full year itself, with the company saying it had seen a ‘strong close to an eventful year’. In the last three months of 2012 Telenor Group recorded total turnover of NOK25.990 billion (USD4.57 billion), up from NOK25.433 billion in the same period a year earlier. Although sales growth registered a 2.2% year-on-year increase in reported terms, organic revenue growth actually stood at 5% in the fourth quarter. Full-year revenues meanwhile totalled NOK101.718 billion, up from NOK98.516 billion. EBITDA stood at NOK8.179 billion in the last quarter of 2012, representing an increase of more than ten percentage points against 4Q11, while full-year EBITDA increased by 7.3% to NOK32.755 billion. Net profit in the three months ended 31 December 2012 totalled NOK3.193 billion, reversing the net loss of NOK2.709 billion that Telenor Group had recorded in 4Q11; the loss last year came after the Norwegian outfit wrote-down NOK4.1 billion (USD706 million) related to licences and goodwill in India following the Indian Supreme Court’s ruling which cancelled a number of 2G licences. In FY2012 meanwhile net income rose by 32.4% to NOK9.490 billion. Capital expenditures in 2012 were NOK21.511 billion, more than 80% higher than in 2011.

Commenting on expectations for the coming financial year, Jon Fredrik Baksaas, president and CEO of Telenor Group, said: ‘For 2013, we expect revenue growth in the range of 3-5% and EBITDA margin around 34%. We now see the opportunity to accelerate investments to capture market positions and expect CAPEX/sales in the range of 12-14%.’

As at 31 December 2012 Telenor Group reported a consolidated mobile subscriber base of 147.731 million, up from 140.422 million a year earlier, but down from a peak of 151.117 million at end-June 2012.

Norway, Telenor Group

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