2014 delivered good results, solid growth ahead
(Thomson Reuters ONE) -
In the fourth quarter of 2014, Telenor Group reported revenues of NOK 29.1
billion and an organic revenue growth of 5.3%. EBITDA before other items was NOK
9.1 billion, the EBITDA margin was 31.2% and operating cash flow was NOK 3.46
billion. Full-year reported revenues were NOK 106.5 billion, EBITDA before other
items NOK 37.7 billion and the EBITDA margin 35.4% in 2014.
"Our performance in 2014 confirms Telenor Group's position as one of Europe's
fastest growing telcos, with organic revenue growth of 5% during the final
quarter and 3% for the full year. We reported revenues and earnings in line with
our guidance for the year. During 2014, we added 20 million new mobile
subscribers, of which 7 million in the fourth quarter alone,'' said Telenor
Group President and CEO Jon Fredrik Baksaas.
"Demand for smartphones is higher than ever across our markets. We sold more
than 1.5 million smartphones during the final quarter, stimulating mobile data
growth. At the same time, margins were negatively impacted due to increased
handset subsidy costs. In Norway, the rising number of 4G enabled handsets
together with our investments in network expansion resulted in strong mobile
service revenue growth of 10 per cent. For the first time ever there are more
4G phones in Telenor's Norwegian network than 3G phones and our customers more
than doubled their data use in the past year,'' said Baksaas.
"2014 was a challenging year for us in Thailand, with intense competition
continuing during the fourth quarter. However, dtac has taken corrective
measures to strengthen its market position and return to growth. We are seeing
early signs of improvement following the introduction of a cluster-based
operating model, attractive market offerings and a network improvement
programme. By expanding its 3G and 4G network, dtac aims to deliver the best
internet network in Bangkok and 30 major cities this year," said Baksaas.
"In just one year, the people of Myanmar's main cities have leapfrogged from
very limited connectivity to broadly available mobile services. Telenor Group is
able to contribute to the rapid development of a nation by providing essential
infrastructure that will drive connectivity and new opportunities for Myanmar.
Three months after service launch, we ended the year with 3.4 million
subscribers. We will steadily introduce products and services in Myanmar that
will include everyone in the country's digital future," said Baksaas.
"In Europe, we launched online mobile banking services in Serbia during the year
and agreed to merge our Danish mobile operation with TeliaSonera. In Bulgaria,
where the company was recently rebranded, the network swap is progressing ahead
of plan. In Sweden, the integration of Tele2's fibre and cable business is on
track," said Baksaas.
"Looking ahead, we will continue to focus on the industry transition from voice
to data, which is resulting in significant changes to our ecosystem. We are well
positioned to monetize on this data surge, deliver healthy growth and
profitability. The financial outlook for 2015 is mid-single digit organic
revenue growth and an EBITDA margin in the range of 33-35%. Capex to sales ratio
is expected to be in line with 2014, excluding the broadcasting satellite," said
Baksaas.
"Based on the performance during the year, Telenor plans to pay a total dividend
of NOK 7.30 per share for 2014, of which NOK 3.80 shall be paid in June and NOK
3.50 in November," said Baksaas.
Key figures
The table below contains key figures for the fourth quarter and the full year of
2014, compared to the previous year.
+------------------------------------------------+------+-------+-------+------+
| | 4Q | 4Q | Year | Year |
+------------------------------------------------+------+-------+-------+------+
|(NOK in millions except earnings per share) | 2014 | 2013 | 2014 | 2013 |
+------------------------------------------------+------+-------+-------+------+
|Revenues |29 101| 26 333|106 540|99 138|
+------------------------------------------------+------+-------+-------+------+
|EBITDA before other income and expenses | | | | |
| | | | |34 768|
| | 9 091| 8 738| 37 681| |
+------------------------------------------------+------+-------+-------+------+
|EBITDA margin before other income and expenses | | | | |
|(%) | | | | |
| | 31.2| 33.2| 35.4| 35.1|
+------------------------------------------------+------+-------+-------+------+
|Adjusted operating profit[1] | 5 087| 5 402| 22 926|21 803|
+------------------------------------------------+------+-------+-------+------+
|Adjusted operating profit/Revenues (%) | | | | |
| | 17.5| 20.5| 21.5| 22.0|
+------------------------------------------------+------+-------+-------+------+
|Profit after taxes and non-controlling interests| | | | |
| | 1 765|(2 019)| 10 346| 8 748|
+------------------------------------------------+------+-------+-------+------+
|Earnings per share from total operations, basic,| | | | |
|in NOK | | | | |
| | 1,18| (1,34)| 6,88| 5,74|
+------------------------------------------------+------+-------+-------+------+
|Capex | 6 602| 4 994| 22 527|16 610|
+------------------------------------------------+------+-------+-------+------+
|Capex excl. licences and spectrum | | | | |
| | 5 636| 4 468| 16 870|14 224|
+------------------------------------------------+------+-------+-------+------+
|Capex excl. licences and spectrum/Revenues (%) | | | | |
| | 19.4| 17.0| 15.8| 14.3|
+------------------------------------------------+------+-------+-------+------+
|Operating cash flow [2] | 3 455| 4 271| 20 811|20 544|
+------------------------------------------------+------+-------+-------+------+
|Net interest-bearing liabilities [3] | | | | |
| | | | 47 126|39 395|
+------------------------------------------------+------+-------+-------+------+
1) Adjusted operating profit is defined as Operating profit less other income
and expenses and impairment losses.
2) Operating cash flow is defined as EBITDA before other income and expenses -
Capex, excluding licences and spectrum.
3) Net interest-bearing liabilities are defined as net interest-bearing debt
excluding net present value of licence liabilities.
Telenor Denmark is classified as discontinued operation. Historical Group income
statement is restated accordingly.
Media Contact:
Meera Bhatia, Tel: (+47) 4684 4959, E-mail: meera.bhatia(at)telenor.com
Press and analyst conference
In connection with the publication of the financial results, a press and analyst
conference will be held on Wednesday 11 February at 09:00 hrs Norwegian
time/CET. The presentation, which will also be broadcast live over the Internet,
will be held in Auditorium Voice, Telenor Expo Visitor Centre at Fornebu near
Oslo. CEO Jon Fredrik Baksaas and CFO Richard Olav Aa will present the results.
The presentation will be held in English.
Internet and mobile broadcast
The press and analysts conference will be broadcast live over the Internet, and
will also be available as a recording after the conference. The live service
also allows for written questions to be submitted. In addition, the conference
will be available live and as a recording on mobile phones - for access, SMS
expo to 2440 or (+47) 2440 from abroad.
Conference Call and Q&A
You may also call in and listen to the presentation over the phone. This service
allows you to ask questions at 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 2100 6914 and state the confirmation code: 3823626
Material
The quarterly report and English versions of the presentations will be made
available here http://www.telenor.com/investors/reports/2014/telenors-results-
for-the-4th-quarter-2014/
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(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.
Source: Telenor via GlobeNewswire
[HUG#1893385]
Unternehmensinformation / Kurzprofil:
Datum: 11.02.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 370707
Anzahl Zeichen: 10240
contact information:
Town:
OSLO
Kategorie:
Business News
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