Continued growth, outlook maintained
(Thomson Reuters ONE) -
(Fornebu - 22 July 2015) In the second quarter of 2015, Telenor Group reported
revenues of NOK 30.2 billion and organic revenue growth of 6%. EBITDA before
other items was NOK 10.6 billion, the EBITDA margin 35% and operating cash flow
NOK 4 billion. Net income rose 57 per cent to NOK 3.6 billion kroner in the
quarter, implying earnings per share of NOK 2.42. During the first six months of
the year the company reported record-high revenues and an all-time high EBITDA
compared with the same period in previous years.
"Telenor continued to deliver encouraging results for the second quarter. We
reported more than NOK 30 billion in revenues and organic revenue growth of 6
per cent. Profitability remained solid, with EBITDA before other items of NOK
10.6 billion and an EBITDA margin of 35 per cent,'' said Jon Fredrik Baksaas,
President and CEO of Telenor Group.
"In Norway, the mobile trends seen over the last quarters persisted during the
three months through June. Customers more than doubled their data usage in the
period, which resulted in mobile service revenue growth of 6 per cent. The
increasing mobile data consumption is supported by strong growth in 4G coverage
and 4G devices. We are continuing to expand our 4G network across the country
targeting 95 per cent population coverage by the end of this year," said
Baksaas.
"In Thailand, competition remained intense in the second quarter. dtac is going
through a comprehensive turnaround process, which on the network side has
already resulted in a significantly improved network position on both 3G and
4G. The ongoing transformation of dtac's sales and distribution model is key for
future success in this competitive market," said Baksaas.
"In Myanmar, performance continues to exceed our expectations. In July we passed
10 million subscribers. Customers' strong demand for voice and data services
keeps driving revenues and profitability. During the quarter we further expanded
the network, reaching 213 of a total of 330 townships at the end of June. The
speed of our network expansion is the key challenge in a nation where
approximately 70 per cent of the population lives in rural areas,'' said
Baksaas.
"We are pleased to see solid performance in Pakistan during an eventful quarter.
Traffic revenues in Pakistan are fairly stable despite the mandatory biometric
verification of the subscriber base that ended in May, resulting in a customer
base of 31.6 million at the end of the quarter. Sales and market activities have
picked up significantly during the second quarter, and consumption trends are
encouraging," said Telenor Group's CEO Baksaas.
"We retain our focus on Internet for All as well as operational efficiency as
stated in our strategy. We have made significant investments in data networks
and data usage is growing rapidly. Successfully monetising this exponential
growth in data will be a key priority for us going forward. This also includes
developing our current digital positions within Internet of Things, online
classifieds and financial services. As of the end of June, one third of our
total customer base was mobile internet users. This highlights the appetite for
data and the opportunities that lie ahead. Mobile internet access enables
digital inclusion and opens opportunities for all. From this strategy platform I
am happy to see Mr Sigve Brekke coming in as the new CEO from 17 August,
continuing to develop Telenor Group," said Baksaas.
"Based on the performance in the first half of the year and our expectations for
the rest of the year, we maintain our guidance for 2015," concluded Baksaas.
Key figures
The table below contains key figures for the second quarter, compared to the
previous year.
+--------------------------------------------------+------+------+------+------+
| | 2Q | 2Q | 1H | 1H |
+--------------------------------------------------+------+------+------+------+
|(NOK in millions except earnings per share) | 2015 | 2014 | 2015 | 2014 |
+--------------------------------------------------+------+------+------+------+
|Revenues |30 179|25 657|60 389|50 976|
+--------------------------------------------------+------+------+------+------+
|EBITDA before other income and expenses |10 571| 9 498|21 157|18 572|
+--------------------------------------------------+------+------+------+------+
|EBITDA margin before other income and other | | | 35.0| 36.4|
|expenses (%) | 35.0| 37.0| | |
+--------------------------------------------------+------+------+------+------+
|Adjusted operating profit[1] | 6 413| 5 947|13 021|11 517|
+--------------------------------------------------+------+------+------+------+
|Adjusted operating profit/Revenues (%) | 21.2| 23.2| 21.6| 22.6|
+--------------------------------------------------+------+------+------+------+
|Profit after taxes and non-controlling interests | 3 635| 2 319| 7 688| 5 995|
+--------------------------------------------------+------+------+------+------+
|Earnings per share from total operations, basic, | | | 5.12| 3.98|
|in NOK | 2.42| 1.54| | |
+--------------------------------------------------+------+------+------+------+
|Capex | 6 596| 4 768|11 185|11 219|
+--------------------------------------------------+------+------+------+------+
|Capex excl. licences and spectrum | 6 591| 3 873|11 114| 7 423|
+--------------------------------------------------+------+------+------+------+
|Capex excl. licences and spectrum/Revenues (%) | 21.8| 15.1| 18.4| 14.6|
+--------------------------------------------------+------+------+------+------+
|Operating cash flow [2] | 3 980| 5 626|10 043|11 149|
+--------------------------------------------------+------+------+------+------+
|Equity ratio including non-controlling interests | | | 36.9| 38.7|
|(%) | | | | |
+--------------------------------------------------+------+------+------+------+
|Net interest-bearing liabilities [3] | | |47 448|44 387|
+--------------------------------------------------+------+------+------+------+
(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.
Organic revenue is defined as revenue adjusted for the effects of acquisition
and disposal of operations and currency effects.
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 22 July 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 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 2316 2729 and state the confirmation code:
3683856
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-2nd-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#1940300]
Unternehmensinformation / Kurzprofil:
Datum: 22.07.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 408294
Anzahl Zeichen: 10025
contact information:
Town:
OSLO
Kategorie:
Business News
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