Record-high revenues and EBITDA
(Thomson Reuters ONE) -
(Fornebu, 6 May 2015) -- In the first quarter of 2015, Telenor Group reported
revenues of NOK 30.2 billion, representing an organic revenue growth of 7.6%.
EBITDA before other items was also at an all-time high of NOK 10.6 billion. The
EBITDA margin was 35% and operating cash flow was NOK 6 billion during the
quarter. Net income was NOK 4.1 billion, implying earnings per share of NOK
2.70.
"Our performance during the first quarter reflects a promising start to the
year. We reported all-time high revenues and strong organic sales growth of 8
per cent. EBITDA grew by 5 per cent organically despite start-up costs in
Myanmar and continued high handset sales. We added 5.9 million mobile customers
during the period and more than one third of our total 190 million subscribers
are now active internet users,'' said Jon Fredrik Baksaas, President and CEO of
Telenor Group.
"In Norway, we continue to invest in fixed and mobile network infrastructure to
meet our customers' high demands and expectations for data capacity as well as
premium network coverage. Combined with user-friendly services and good
execution, this has enabled us to capture data growth and increase revenues.
Telenor Norway delivered once again solid results, with revenue growth of 6 per
cent in the period. This was supported by mobile data consumption that more than
doubled over the last year and stronger demand for high-speed fixed internet,''
said Baksaas.
"The turnaround plan in Thailand continues with some early signs of improvement.
dtac continues to implement its cluster-based business model and strengthen its
network position. dtac plans to accelerate its investment in 3G and 4G network
coverage aiming to take a strong market position. Still, the company is facing
intense competition with heavy handset subsidies in the prepaid customer
segment,'' said Baksaas.
"In Myanmar, we continue to face strong demand and reported positive EBITDA only
a few months after service launch. We expanded into new areas during the first
quarter, added 3 million customers and brought the total number of network sites
to more than 1,700. In the coming quarters, we plan to ramp up network
investments to cater for the strong demand for digital services in this
connectivity hungry nation. While we are encouraged by the promising start in
Myanmar, it is has to be noted that it is still early days,'' said Baksaas.
"Telenor is committed to operate responsibly in all aspects of our business. We
focus on sustainable initiatives that create long-term shared value for Telenor,
our customers and society at large. Sound corporate governance, including the
implementation and realisation of a solid compliance system in all our
operations, is critical to Telenor's business integrity and to maintaining
confidence in our brand and company,'' said Baksaas.
"An encouraging start to the year makes us confident that Telenor will see
another good year in which more customers will benefit from mobile internet
access and quality services. We are raising our organic revenue growth
expectations to 5-7%, combined with a stronger EBITDA margin of 34-36%. The
expected capex to sales ratio is now seen at 17-19% reflecting higher
investments in Thailand and Myanmar in addition to the recently launched
satellite," said Baksaas.
Key figures
The table below contains key figures for the first quarter, compared to the
previous year.
+--------------------------------------------------------+------+------+-------+
| | 1Q | 1Q | Year |
+--------------------------------------------------------+------+------+-------+
|(NOK in millions except earnings per share) | 2015 | 2014 | 2014 |
+--------------------------------------------------------+------+------+-------+
|Revenues |30 210|25 319|106 540|
+--------------------------------------------------------+------+------+-------+
|EBITDA before other income and other expenses |10 587| 9 074| 37 681|
+--------------------------------------------------------+------+------+-------+
|EBITDA margin before other income and other expenses (%)| | | |
| | | | |
| | 35.0| 35.8| 35.4 |
+--------------------------------------------------------+------+------+-------+
|Adjusted operating profit[1] | 6 608| 5 570| 22 926|
+--------------------------------------------------------+------+------+-------+
|Adjusted operating profit/Revenues (%) | 21.9| 22.0| 21.5|
+--------------------------------------------------------+------+------+-------+
|Profit after taxes and non-controlling interests | 4 053| 3 676| 9 077|
+--------------------------------------------------------+------+------+-------+
|Earnings per share from total operations, basic, in NOK | | | |
| | | | |
| | 2.70| 2.43| 6.03|
+--------------------------------------------------------+------+------+-------+
|Capex | 4 588| 6 451| 22 527|
+--------------------------------------------------------+------+------+-------+
|Capex excl. licences and spectrum | 4 523| 3 550| 16 870|
+--------------------------------------------------------+------+------+-------+
|Capex excl. licences and spectrum/Revenues (%) | 15.0| 14.0| 15.8|
+--------------------------------------------------------+------+------+-------+
|Operating cash flow [2] | 6 063| 5 524| 20 811|
+--------------------------------------------------------+------+------+-------+
|Equity ratio including non-controlling interests (%) | 37.0| 43.5| 35.4|
+--------------------------------------------------------+------+------+-------+
|Net interest-bearing liabilities [3] |44 348|37 237| 47 126|
+--------------------------------------------------------+------+------+-------+
(1) )Adjusted operating profit is defined as Operating profit less other
income and other expenses and impairment losses.
(2) ) Operating cash flow is defined as EBITDA before other income and other
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.
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 6 May 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 23162729 and state the confirmation code: 7609201
Material
The quarterly report and English versions of the presentations will be made
available here http://www.telenor.com/investors/reports/2015/telenors-results-
for-the-1st-quarter-2015/
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#1918984]
Unternehmensinformation / Kurzprofil:
Datum: 06.05.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 391195
Anzahl Zeichen: 9453
contact information:
Town:
OSLO
Kategorie:
Business News
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