Telenor: Strong performance continues

In the third quarter of 2011, Norwegian telecom provider Telenor Group reported revenues of NOK 24.6 billion, representing an organic revenue growth of 7%.

EBITDA before other items was NOK 8.3 billion, EBITDA margin was 34 per cent, and operating cash flow was NOK 5.5 billion.

Telenor’s consolidated mobile operations added more than five million subscriptions during the quarter.

“I am pleased to see that in a world of slowing growth and rising risks, Telenor’s financial performance continues to improve. The third quarter of 2011 showed that Telenor’s geographical footprint enables us to grow our business in a manner which yields solid return from mature markets at the same time as we are growing in emerging markets,” said Jon Fredrik Baksaas, President and CEO of Telenor Group.

“Uninor in India is starting to show EBITDA improvement and is on track towards becoming an ultra low cost operator. The regulatory framework is still unclear and we urge Indian authorities to provide clarity shortly. The authorities should demonstrate their commitment to the industry and move the process forward,” Baksaas said.

“We welcome VimpelCom management’s communicated focus on operational performance, debt repayment and shareholder remuneration,” Baksaas said.

For the 10th year in a row, Telenor Group has been named one of the top performers on the Dow Jones Sustainability Indexes, the world's most comprehensive annual analysis of corporate sustainability performance. Sustainable growth is an important part of the ‘Telenor way’ of doing business and I am pleased that our efforts to extend the wider benefits of telecommunications are recognised,” Baksaas said.

“Despite global macro economic turbulence and floods in Asia, our operations have so far remained resilient. We adjust our guidance for 2011 based on solid performance the first nine months and expectations for the rest of the year,” Baksaas said.

(NRK/Press release)

Thursday, 27 October 2011 06:48