Telenor Posts Profit In Q2, Revenues Down; Backs FY18 View – Quick Facts

Norwegian telecom company Telenor ASA (TELNY.PK,TELN) reported Tuesday that its second-quarter net income attributable to equity holders was 2.6 billion Norwegian Kroner or 1.78 krone per share, compared to loss of 167 million kroner last year.

EBITDA before other items was 11.3 billion Kroner, corresponding to an EBITDA margin of 41.1%, compared to last year’s 11.61 billion kroner and 41 percent respectively. Organic EBITDA growth was 0.5%.

Total reported revenues were 27.49 billion kroner, down 3% from 28.33 billion kroner a year ago. Subscription and traffic revenues dropped to 21.45 billion kroner from 21.97 billion kroner a year ago. On an organic basis, total revenues decreased by 1%, while subscription and traffic revenues grew 0.4%.

Mobile subscriptions increased to 2.1 million from 2 million a year ago.

In the second quarter, the company said it saw robust operations in Scandinavia, particularly in the mobile market in Norway.

Looking ahead, for 2018, the company maintained expectations of an organic subscription and traffic revenue growth of 1-2%, and an organic EBITDA growth of 2-3% with a capex excluding licences and spectrum of NOK 17-18 billion.

by RTTNews Staff Writer

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