Telenor reports fourth-quarter results
(Thomson Reuters ONE) -
"In 2016, Telenor continued to grow revenues and delivered a record high EBITDA.
We made significant progress on network deployment during the year, supporting
our customers' increasing data usage. Based on the 2016 results, we are
proposing a dividend of NOK 7.80 per share, which represents an increase of four
per cent compared to last year.
During the fourth quarter, organic revenue growth was one per cent and EBITDA
increased by two per cent on an organic basis. The revenue growth was primarily
driven by the rapidly increasing data consumption in Pakistan, Bangladesh and
Myanmar. We also saw positive effects from the ongoing fibre roll-out in Norway
and Sweden. The intense competition in our Thai, Malaysian and Danish markets
continued during the quarter. Cost efficiency is a key driver for value
creation, and I'm pleased to see that effects from our efficiency initiatives
are starting to come through.
Entering 2017, our priorities are clear: We will continue to digitize our core
business in order to build strong and engaging customer relationships and to
capture the efficiency opportunities that digitization brings," says Sigve
Brekke, Chief Executive Officer of Telenor Group.
KEY FIGURES TELENOR GROUP
+----------------------------------------------+-------+-------+-------+-------+
|(NOK in millions) |Q4 2016|Q4 2015|FY 2016|FY 2015|
+----------------------------------------------+-------+-------+-------+-------+
|Revenues |33,144 |33,487 |131,427|128,175|
+----------------------------------------------+-------+-------+-------+-------+
|Organic revenue growth (%) |0.6 |2.3 |1.1 |4.7 |
+----------------------------------------------+-------+-------+-------+-------+
|EBITDA before other income and other expenses |10,793 |10,860 |46,483 |44,197 |
+----------------------------------------------+-------+-------+-------+-------+
|EBITDA before other income and other |32.6 |32.4 |35.4 |34.5 |
|expenses/Revenues (%) | | | | |
+----------------------------------------------+-------+-------+-------+-------+
|Profit after taxes and non-controlling |2,286 |(2,125)|2,832 |3,414 |
|interests | | | | |
+----------------------------------------------+-------+-------+-------+-------+
|Capex excl. licences and spectrum/Revenues (%)|20.8 |19.5 |17.3 |18.4 |
+----------------------------------------------+-------+-------+-------+-------+
|Capex/Revenues (%) |20.8 |22.2 |20.0 |19.7 |
+----------------------------------------------+-------+-------+-------+-------+
|Mobile subscriptions - Change in quarter/Total|3.4 |6.6 |214 |203 |
|(mill.) | | | | |
+----------------------------------------------+-------+-------+-------+-------+
FOURTH QUARTER 2016 SUMMARY
* Total revenues decreased by 1% to NOK 33.1 billion, while the organic
revenue growth was 1%. Mobile subscription & traffic revenues increased by
1% on an organic basis.
* EBITDA before other items was stable at NOK 10.8 billion, corresponding to
an EBITDA margin of 33%, which is a slight increase from last year.
* EBITDA before other items was negatively impacted by a provision of NOK 0.3
billion related to a decision by the Swedish Tax Agency regarding VAT
treatment for 2013 and 2014. Excluding this effect, the organic EBITDA
growth was 5%.
* Capital expenditure excluding licences and spectrum was NOK 6.9 billion,
resulting in a capex to sales ratio of 21%.
* As a result of lowered growth expectations within the US media advertising
segment, an impairment of NOK 1.0 billion has been recognised in Tapad,
which is included in Other Units.
* Reported earnings per share (EPS) for 2016 were NOK 1.89. Adjusted for
effects related to VimpelCom, impairment losses, other items and currency
loss on repayment of internal loans, the EPS was NOK 9.53.
* Based on the financial results for 2016, the Board of Directors proposes a
dividend of NOK 7.80 per share for 2016, to be paid out in two instalments.
The proposal is in line with Telenor's ambition to deliver a year over year
growth in dividends.
* In 2017, Telenor expects an organic revenue growth in the range of 1% to 2%
and an EBITDA margin of around 36%. The capex to sales ratio excluding
licences is expected to be 15% to 16%.
Media Contact:
Meera Bhatia, mobile: (+47) 46 84 49 59, meera.bhatia(at)telenor.com
Investor Relations Contacts:
Marianne Moe, mobile: (+47) 91 61 76 31, marianne.moe(at)telenor.com
Helge Øien, mobile: (+47) 91 31 92 42, helge.oien(at)telenor.com
Press and analyst presentation
In connection with the publication of the financial results, a presentation will
he held on Thursday 2 February at 10:00 am CET. The presentation, which will
also be available via webcast, will be held in Auditorium Voice, Telenor Expo
Visitor Centre at Fornebu near Oslo. CFO Jørgen C. Arentz Rostrup will present
the quarterly results. The presentation will be held in English. There will not
be a QA session following the quarterly results as a result of Telenor's Capital
Markets Day 2017 being held the same day from the same location. The Capital
Markets Day programme begins at 11:00 am CET and will also be available via
webcast. For further details, see http://www.telenor.com/cmd
Material
The quarterly report and the presentation are available here.
http://www.telenor.com/investors/reports/2017/telenor-groups-results-for-the-
4th-quarter-2016/
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Telenor via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 02.02.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 521485
Anzahl Zeichen: 6747
contact information:
Town:
OSLO
Kategorie:
Business News
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