Mobile data and Asia driving growth
(Thomson Reuters ONE) -
(Fornebu, 21 July 2010) In the second quarter of 2010, Telenor Group reported
revenues of NOK 25.2 billion, representing an organic revenue growth of 5 per
cent. The EBITDA margin in the second quarter of 2010 was 28 per cent, and
operating cash flow margin was 16 per cent. Adjusted operating profit was NOK
2.9 billion. Telenor's mobile operations added 5.4 million subscriptions during
the quarter.
"I am pleased to see that the positive trends continued into the second quarter
with increasing organic revenue growth and solid margins. During the quarter our
consolidated operations added 5.4 million mobile subscriptions and in Asia we
had organic revenue growth of 13 per cent," said Jon Fredrik Baksaas, President
and CEO of Telenor.
Growth in Asia
"The economic environment in Asia continued to improve, fuelling the revenue
growth in our operations. Increased usage of smartphones is an additional driver
for growth in Thailand and Malaysia. In June, we launched services in five
additional circles in India, increasing our footprint to 13 circles. We are
continuously working to increase revenues and develop Uninor's position in the
market," said Jon Fredrik Baksaas.
Increased mobile data usage
"In the Nordic region, high demand for mobile data is contributing to the solid
growth in organic mobile revenues. The mobile network upgrades are on track,
with pick-up in investments in the coming quarters. In addition, the work on
further cost reductions will continue," said Jon Fredrik Baksaas.
Share buy-back programme
"In order to improve Telenor's shareholder remuneration, we have decided to
initiate a share buy-back programme for approximately 3 per cent of the
outstanding shares, following the announcement of the second quarter. Going
forward our ambition is to ensure a healthy balance between competitive
shareholder remuneration and the Group's growth profile," said Jon Fredrik
Baksaas.
Outlook
"Based on the positive trends in Asia and the Nordics, we expect organic revenue
growth to be slightly higher than indicated in our previous outlook. In
addition, we revise our expected capex to sales ratio downwards, following lower
overall investments so far this year," said Jon Fredrik Baksaas.
Key figures
The table below contains key figures for the second quarter of 2010, compared to
the previous year:
+-------------------------------------------------------+------+------+------+
| | Q2 | Q2 | Year |
|(NOK in millions except earnings per share) | 2010 | 2009 | 2009 |
+-------------------------------------------------------+------+------+------+
|Revenues |25 177|24 509|97 650|
+-------------------------------------------------------+------+------+------+
|EBITDA before other income and expenses | 7 025| 7 896|31 122|
+-------------------------------------------------------+------+------+------+
|EBITDA margin before other income and expenses (%) | 27.9| 32.2| 31.9|
+-------------------------------------------------------+------+------+------+
|Adjusted operating profit | 2 889| 4 005|15 805|
+-------------------------------------------------------+------+------+------+
|Adjusted operating profit/Revenues (%) | 11.5| 16.3| 16.2|
+-------------------------------------------------------+------+------+------+
|Profit after taxes and non-controlling interests [1] | 9 494| 1 375| 8 653|
+-------------------------------------------------------+------+------+------+
|Earnings per share from total operations, basic, in NOK| 5.73| 0.83| 5.22|
+-------------------------------------------------------+------+------+------+
|Capex | 3 311| 3 008|16 107|
+-------------------------------------------------------+------+------+------+
|Capex excl. licences and spectrum | 2 978| 3 008|16 107|
+-------------------------------------------------------+------+------+------+
|Capex excl. licences and spectrum/Revenues (%) | 11.8| 12.3| 16.5|
+-------------------------------------------------------+------+------+------+
|Operating cash flow [2] | 4 047| 4 888|15 015|
+-------------------------------------------------------+------+------+------+
|Net interest-bearing liabilities | | |26 332|
+-------------------------------------------------------+------+------+------+
[1] Until 31 December 2009, 'Profit after tax and non-controlling interests'
included actual figures for Kyivstar and estimated results for OJSC VimpelCom.
As of the first quarter 2010, figures for OJSC VimpelCom and Kyivstar were
included with a one quarter lag. The second quarter includes a gain related to
the contribution of Kyivstar to the new entityVimpelCom Ltd. of approximately
NOK 6.5 billion.
[2] Operating cash flow is defined as EBITDA before other income and expenses -
Capex, excluding licenses and spectrum.
For more information please refer to the quarterly
reporthttp://www.telenor.com/en/investor-relations/reports/q2-2010
Contact:
Pål Kvalheim, Vice President, Telenor Group, Phone: (+47) 970 44 970
E-mail:pal.kvalheim(at)telenor.com
To the editorial offices:
Press and analyst conference
In connection with the publication of the financial results, a press and analyst
conference will be held on Wednesday 21 July 2010 at 09:00 hrs Norwegian
time/CET. The presentation will be held in Auditorium A, Telenor Expo Visitors'
Centre, at the Telenor Headquarters at Fornebu outside Oslo. President and CEO
Jon Fredrik Baksaas and CFO Richard Olav Aa will present the results. All
presentations will be given in English.
Internet and mobile broadcast
The press and analyst conference will be broadcast live over the Internet, and a
recorded version will be made available
onhttp://www.telenor.com/en/investor-relations/reports/q2-2010. During the live
transmission, written questions may be submitted via the Internet. The
conference will also be available live, and in a recorded version, on mobile
phones with 3G, GPRS or EDGE. For more details please refer to on
http://www.telenor.com/en/investor-relations/reports/q2-2010
Conference call and Q&A
The press and analyst conference will also be available as a conference call.
This service also allows participants to ask questions at a concluding Q&A
session, which will be held immediately after the presentation and a brief Q&A
session in the auditorium. Please register well in advance on (+47) 800 80 119
(from Norway) or (+47) 23 18 45 01 (from Norway or abroad).
Materials
English language versions of the full quarterly report and all presentations
used during the press and analyst conference will be made
availablehttp://www.telenor.com/en/investor-relations/reports/q2-2010 at 07:00
and 08:45 hrs Norwegian time/CET, respectively.
[HUG#1433033]
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Telenor via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 21.07.2010 - 07:03 Uhr
Sprache: Deutsch
News-ID 24204
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