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Telenor with a profit of 6.6 billion

(Obi.en): Telenor reported a profit after tax of 6620 million in 3. quarter of 2018, against 6496 million in the same period the year before.

the Result before tax was 6369 million, compared with 8483 million in the year-ago quarter.

the Profit before tax was expected to 5910 million, according to estimates obtained from the seven analysts by Inquiry Financial for TDN Directly.

Better than expected

operating profit was 6720 million, compared to 7304 million the year before. It was expected an operating profit of 6269 million.

operating Revenues amounted to 27566 million, compared to 27463 million in 3. quarter of 2017. The turnover was expected 27346 million.

Financial outlook

Telenor adjusts according to the report the financial outlook for 2018 to organic growth in subscription and trafikkinntekter of 0-1 per cent, organic EBITDA growth of 3-4 per cent, and investments in the 16-17 billion, excl. licenses and spectrum.

- A milestone

- Telenor has once again delivered a quarter with solid results, with stable earnings and six percent growth in organic EBITDA. The third quarter was a milestone for us in Thailand, as konsesjonsmodellen ceased. We are very pleased with how the transition to lisensmodellen have been completed. The uncertainty is now removed and we have secured important access to the frequencies and the infrastructure, " says ceo Sigve Brekke of Telenor.

He adds that in the course of the first quarter and increased its customer base for the first time in three years.

It is evident also that the report that fiberutbyggingen still, and that nearly 9,000 households were connected up in the third quarter.

In Pakistan and Bangladesh we see improved revenue growth, while we in Myanmar are seeing increased competition. The sale of mobilvirksomhetene in Central and Eastern Europe was as expected completed this quarter, " says Brekke.

the Third quarter of 2018

- On organic basis was subscription and trafikkinntektene stable, while total operating income increased by 1 per cent. Total reported revenues amounted to 27,6 billion, an increase of 1 percent from the same quarter last year.

Reported operating expenses were reduced by 0.3 billion, or 3 per cent.

EBITDA before other income and expenses was nok 12.4 billion, equivalent to an EBITDA margin of 45 percent, which is an increase of 2 percentage points compared with the previous year. Organic growth in EBITDA was up 6 per cent, positively affected by the reversal of provisions.

Net loss to shareholders of Telenor ASA was nok 5.8 billion, or 3,96 million per share.

Investments excl. licences and spectrum was nok 4.2 billion, equivalent to 15 percent of the gross revenues.

Free cash flow in the quarter was 26.5 billion, positively affected by the sale of mobilvirksomhetene in Central and Eastern Europe.

To the shareholders

- Telenor decided in september to pay an extraordinary dividend of 4,40 euros per share as a result of the sale of mobilvirksomhetene in Central and Eastern Europe. The dividend was paid in October, and gave a payment to shareholders of nok 6.4 billion.

- In addition bought Telenor back 7.7 million shares during the quarter and is well on the way to finalize purchases in the market related to the tilbakekjøpsprogrammet of 2 per cent, approved by the general meeting 2. may 2018. In combination with the ordinary and the extraordinary dividend will tilbakekjøpsprogrammet, provide a payout to shareholders of close to nok 23 billion in 2018. Financial outlook

- Telenor adjust the financial outlook for 2018 to organic growth in subscription and trafikkinntekter of 0-1 per cent, organic EBITDA growth of 3-4 per cent, and investments in the 16-17 billion, excl. licenses and spectrum.

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