Telenor ASA 4Q Net Profit Rose With Good Performance in Thailand, Myanmar

By Ian Walker

Norwegian telecom provider Telenor ASA (TEL.OS) on Wednesday reported a 61% rise in net profit for the fourth quarter of 2019 and said that it experienced good performance in Thailand and Myanmar, which were top priorities for the board.

Telenor made a net profit for the quarter of 1.95 billion Norwegian kroner ($213 million) compared with NOK1.21 billion for the comparable period last year.

Adjusted earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics which strips out exceptional and other one-off items--was NOK11.88 billion compared with NOK10.12 billion. Consensus forecast was NOK11.72 billion, taken from FactSet and based on eight analysts' forecasts.

Revenue rose to NOK31.81 billion from NOK27.07 billion and compared with forecasts of NOK31.39 billion, taken from FactSet and based on 10 analysts' estimates.

"Entering 2020, we will continue to focus on growth, efficiency and simplification," Chief Executive Sigve Brekke said.

The company expects to report organic subscription and traffic revenue growth of 0% to 2% and organic Ebitda growth of 2% to 4% for 2020. This compares with 0.4% and a fall of 2.6% in 2019.

The board has declared a dividend of NOK8.70 compared with NOK8.40 for 2018.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk4028979

(END) Dow Jones Newswires

January 29, 2020 01:35 ET (06:35 GMT)

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