Third quarter 2009: A solid quarter
(Thomson Reuters ONE) - (Fornebu, 29 October 2009) In the third quarter of 2009, Telenor'sreported revenues increased by 4 per cent compared to the thirdquarter of 2008, reaching NOK 24.3 billion. The operating profitincreased by 14 per cent to NOK 4.5 billion. Telenor's mobileoperations added 4 million subscriptions during the quarter, reachinga total of 172 million."In the third quarter of 2009 we delivered a solid EBITDA margin, andrevenue trends in line with the previous quarters this year. Thestrong EBITDA, combined with continued capex control resulted in ahigh operating cash flow," said Jon Fredrik Baksaas, President andCEO of Telenor.Telenor's regions"The Nordic operations are on track to deliver on the NOK 10 billioncash flow target.In Asia, Telenor Pakistan shows good progress towards reaching cashflow break even in 2010, while Grameenphone continued to deliver verystrong results. In October, the subscription period related toGrameenphone's initial public offering (IPO) was initiated. There hasbeen high interest related to the IPO, and trading of the share isanticipated to start in November 2009.Our operations in Central and Eastern Europe continued to be affectedby the economic downturn, however the margins and operating cash flowremained strong. During the quarter, 2008 dividends for Kyivstar weredeclared and will be paid within year-end 2009," Baksaas said.Creating a leading emerging markets mobile operator"On 4 October Telenor and Altimo entered into an agreement to createa new leading emerging markets mobile operator, VimpelCom Ltd, bycombining the parties' assets in Kyivstar and OJSC VimpelCom. The newcompany will be headquartered in the Netherlands and we expect tocomplete the related transactions by mid-2010," Baksaas continued.On track with Uninor in India"In India the activity level is high and we are on track to launchservices in the fourth quarter of 2009. During the quarter the Uninorname was announced and additional key agreements related to towersharing, GSM equipment and national roaming were signed. On 19October 2009, the Foreign Investment Promotion Board's recommendationto approve Telenor's shareholding in Unitech Wireless of 67.25% wasapproved," Baksaas said.Cost control and improved efficiency"We continue to scale our activities to be aligned with the currentbusiness environment. We expect that our focus on cost control andimproved efficiency will enable us to deliver a slightly strongerEBITDA margin and lower investments than originally anticipated for2009," Baksaas said.Key figuresThe table below contains pro forma key figures (including Kyivstar)for the third quarter of 2009, compared to the previous year:+-------------------------------------------------------------------+| | Third quarter | Year ||---------------------------------------+-----------------+---------|| (NOK in millions except earnings per | 2009 | 2008 | 2008 || share) | | | ||---------------------------------------+--------+--------+---------|| Revenues | 26 530 | 27 265 | 110 970 ||---------------------------------------+--------+--------+---------|| EBITDA before other income and | 10 055 | 10 050 | 38 491 || expenses | | | ||---------------------------------------+--------+--------+---------|| EBITDA margin before other income and | 37.9 | 36.9 | 35.0 || expenses (%) | | | ||---------------------------------------+--------+--------+---------|| Adjusted operating profit | 6 041 | 6 113 | 22 640 ||---------------------------------------+--------+--------+---------|| Adjusted operating profit/Revenues | 22.8 | 22.4 | 20.6 || (%) | | | ||---------------------------------------+--------+--------+---------|| Net income attributable to equity | 3 489 | 2 995 | 13 065 || holders of Telenor ASA | | | ||---------------------------------------+--------+--------+---------|| Earnings per share from total | 2.11 | 1.80 | 7.83 || operations, basic, in NOK | | | ||---------------------------------------+--------+--------+---------|| Capex | 4 785 | 4 001 | 22 715 ||---------------------------------------+--------+--------+---------|| Capex excl. licences and spectrum | 4 785 | 4 001 | 20 680 ||---------------------------------------+--------+--------+---------|| Capex excl. licences and | 18.0 | 14.7 | 18.8 || spectrum/Revenues (%) | | | ||---------------------------------------+--------+--------+---------|| Operating cash flow | 5 270 | 6 049 | 17 811 ||---------------------------------------+--------+--------+---------|| Net interest-bearing liabilities | 27 158 | 31 396 | 39 309 |+-------------------------------------------------------------------+For more information please refer to the quarterly report onhttp://www.telenor.com/en/investor-relations/reports/q3-2009/.Contact:Scott Engebrigtsen, Communication Manager, Telenor Group, Tel: +4790043484, E-mail: scott.engebrigtsen(at)telenor.comTo the editorial offices:Press and analyst conferenceIn connection with the publication of the financial results, a pressand analyst conference will be held on Thursday 29 October at 09:00hrs Norwegian time/CET. The presentation will be held in AuditoriumA, Telenor Expo Visitors' Centre, at the Telenor Headquarters atFornebu outside Oslo. President and CEO Jon Fredrik Baksaas and CFOTrond Westlie will present the results. All presentations will begiven in English.Internet and mobile broadcastThe press and analyst conference will be broadcast live over theInternet, and a recorded version will be made available onhttp://www.telenor.com/en/investor-relations/reports/q3-2009/. Duringthe live transmission, written questions may be submitted via theInternet. The conference will also be available live, and in arecorded version, on mobile phones with 3G, GPRS or EDGE. For moredetails please refer tohttp://www.telenor.com/en/investor-relations/reports/q3-2009/.Conference call and Q&AThe press and analyst conference will also be available as aconference call. This service also allows participants to askquestions at a concluding Q&A session, which will be held immediatelyafter 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 00 04 00 (from Norway or abroad).MaterialsEnglish language versions of the full quarterly report and allpresentations used during the press and analyst conference will bemade availablehttp://www.telenor.com/en/investor-relations/reports/q3-2009/ at07:00 and 09:00 hrs Norwegian time/CET, respectively.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 29.10.2009 - 07:00 Uhr
Sprache: Deutsch
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