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Telenor Group highlights subscriber growth and strong cash flow in 3Q21

28 Oct 2021

Norway-based Telenor Group has published its financial results for the quarter ended 30 September 2021, reporting a 3.5% year-on-year drop in total turnover to NOK27.4 billion (USD3.27 billion), although it said organic revenue growth was 0.3% for the period under review. Meanwhile, subscription and traffic revenues in the third quarter of 2021 totalled NOK20.7 billion, down from NOK21.5 billion in the corresponding period a year earlier, albeit on an organic basis subscription and traffic revenues were down by only 0.1%.

In terms of other key financial metrics, Telenor Group reported an EBITDA before other income and other expenses of NOK12.9 billion for 3Q21, down from NOK13.6 billion, with the company noting that organic EBITDA decreased by 2%. Reported net income was NOK2.6 billion in the three-month period under review, down from NOK4.5 billion a year earlier, with the decline said to have been driven mainly by ‘negative currency effects on operating profit and net financial items as well lower gain on disposals’. Meanwhile, capital expenditures excluding licences and spectrum stood at NOK4.0 billion in 3Q21, compared to NOK3.5 billion a year earlier, with total free cash flow being NOK7.2 billion, up from NOK4.4 billion.

With regards to operational indicators, Telenor Group reported a consolidated mobile subscription base of 172.056 million as of 30 September 2021, up from 163.114 million a year earlier. According to the company, growth had been driven in no small part by Bangladesh’s Grameenphone, which added almost 1.6 million net subscriptions in the third quarter of 2021.

Norway, Telenor Group

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