Telenor reports third quarter results

 "The third quarter showed good performance, with continued revenue growth and an all-time high EBITDA, supported by a strengthened cost focus across the Group. A key highlight this quarter is the encouraging sign of data monetisation in Bangladesh and Pakistan. While Norway was impacted by lower roaming revenues, we experienced solid uptake on our new mobile tariffs. High-speed broadband in Norway and Sweden performed well during the quarter.

During the quarter, we started executing on our strategic decision to divest our minority stake in VimpelCom Ltd. We will continue to focus on creating value from data growth in our core operations. As our customers increasingly demand more exciting and user-friendly services, we will focus on capturing growth opportunities while addressing costs through the digitisation and transformation of our core business," said Telenor Group Chief Executive Officer Sigve Brekke.

Key figures Telenor Group

Third quarter 2016 summary

• Total revenues increased by 3% to NOK 32.8 billion; organic revenue growth was 2%.  Organic mobile subscription & traffic revenues rose by 2%.
• EBITDA before other items increased 5% to an all-time high NOK 12.5 billion. The EBITDA margin improved one percentage point to 38%.
• Capital expenditure excluding licences and spectrum was NOK 5.0 billion, resulting in a capex to sales ratio of 15%.
• Based on recent observations in the Indian market, the fair value of the licences in India has been assessed, resulting in an impairment loss of NOK 4.0 billion.
• Net income attributable to Telenor ASA equity shareholders was NOK -4.8 billion, or NOK 4.7 billion when adjusting for the effects related to VimpelCom Ltd., India and other items.
• The outlook for 2016 is unchanged.
• The Board resolved a second semi-annual dividend for the financial year 2015 of NOK 3.50 per share, in line with the proposal from February 2016.

Media Contact:
Meera Bhatia, mobile: (+47) 46 84 49 59, meera.bhatia@telenor.com

Investor Contact:
Marianne Moe, mobile: (+47) 91 61 76 31, marianne.moe@telenor.com
Helge Øien, mobile: (+47) 91 31 92 42, helge.oien@telenor.com

Press and analyst conference
In connection with the publication of the financial results, a press and analyst conference will be held on Tuesday 26 October at 09:00 hrs Norwegian time/CET. The presentation, which will also be broadcast live via webcast, will be held in Auditorium Voice, Telenor Expo Visitor Centre at Fornebu near Oslo. CEO Sigve Brekke and acting CFO Morten Karlsen Sørby will present the results. The presentation will be held in English.

You may also call in and listen to the presentation over the phone. This service allows you to ask questions during the Q&A session at the end of the presentation. To participate in the conference call, please register before the conference starts by calling +47 2350 0296 and state the confirmation code: 7336763 

Material
The quarterly report and the English version of the presentation will be made available here http://www.telenor.com/investors/reports/2016/telenor-groups-results-for-the-3rd-quarter-2016/