Norwegian telecoms giant Telenor Group has published its financial results for the quarter ended 30 June 2018, highlighting the impact of its efforts to increase efficiencies in its business, and revealing that it reduced operating expenditure (OPEX) by almost NOK1 billion (USD123 million) in the year to date. For the three-month period under review Telenor generated revenues of NOK27.485 billion, representing a 3% year-on-year drop from the NOK28.332 million figure reported for Q2 2017, although according to the company it performed marginally better in organic terms, with turnover down just 1% y-o-y. Meanwhile, ‘subscription and traffic’ revenues totalled NOK21.445 billion in 2Q18, down from NOK21.996 billion a year earlier, representing organic growth of 0.4%. EBITDA (before other income and other expenses) stood at NOK11.300 in 2Q18, down from NOK11.605 billion, with an EBITDA margin of 41.1% – compared to 41.0% the year before. Meanwhile, having reported a net loss of NOK167 million in 2Q17, Telenor swung to a net profit of NOK2.628 billion in the latest reporting period. Capital expenditures in the quarter under review totalled NOK3.7 billion, down from NOK5.4 billion, with network expansion in Norway and Thailand said to be the largest drivers.
In operational terms, at the end of June 2018 Telenor Group had 172.2 million mobile subscriptions on its books, up from 164.3 million a year earlier, with 54% of those reported to be ‘active data users’ (2Q17: 50%). Bangladesh and Pakistan were the main contributors to customer growth, adding 1.7 million and 600,000 accesses, respectively, in the quarter.