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Telenor reports ‘solid and consistent’ results for 3Q18

24 Oct 2018

Norwegian telecoms giant Telenor Group has published its financial results for the three months ended 30 September 2018, with the company claiming to have ‘delivered another quarter of solid and consistent performance’. Revenues for the period under review totalled NOK27.628 billion (USD3.34 billion), broadly unchanged from the NOK27.463 billion reported for 3Q17, with subscription and traffic revenues accounting for NOK21.497 billion of the total, compared to NOK21.460 billion a year ago. EBITDA (before other items) stood at NOK12.373 billion, meanwhile, representing annualised growth of 5.1%, while net income for the group’s latest fiscal quarter totalled NOK5.807 billion, up from NOK5.756 billion in the third quarter of 2017. Capital expenditure in 3Q18 was NOK4.2 billion.

On the back of its quarterly results, Telenor Group noted that it was adjusting its full-year guidance and it has said it now expects organic subscription and traffic revenue growth of between 0% and 1%, an organic EBITDA growth of between 3% and 4% and CAPEX excluding licences and spectrum of NOK16 billion-NOK17 billion.

In operational terms, at 30 September 2018 Telenor Group had 172.896 million mobile subscribers on its books, up from 166.149 million a year earlier. Notable gains were reported for Grameenphone in Bangladesh (71.413 million customers, up from 63.883 million) and Telenor Pakistan (42.940 million, up from 40.701 million), with these helping offset declines in the likes of Myanmar (18.036 million, down from 19.098 million) and Thailand (21.299 million, down from 23.112 million).

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