Telenor Backs Fiscal Year Guidance After 1Q Net Profit Beat
April 30 2019 - 2:35AM
Dow Jones News
By Dominic Chopping
Norwegian telecom provider Telenor ASA (TEL.OS) posted a
forecast-beating first-quarter net profit on Tuesday and backed its
full-year guidance.
Telenor posted net profit for the period of 3.83 billion
Norwegian kroner ($441.8 million) from NOK4.99 billion in the same
period a year earlier. Revenue rose to NOK27.64 billion from
NOK27.15 billion, while its earnings before interest, tax,
depreciation and amortization margin slipped to 40.3% from
41.8%.
Analysts polled by FactSet had expected net profit of NOK3.36
billion and revenue of NOK27.5 billion.
Telenor said it added 2.3 million new mobile subscribers to its
networks during the quarter. It added 1.3 million in Bangladesh and
700,000 in Pakistan, partly offsetting a subscription loss of
500,000 in Thailand and 400,000 in Malaysia. Total mobile
subscriptions were 176 million.
Telenor still expects organic subscription and traffic growth in
2019, excluding its Thai operation, of 0% to 2%, and organic Ebitda
growth of 1%-3%. Capital expenditure excluding spectrum licenses is
still seen at NOK16 billion to NOK17 billion.
Write to Dominic Chopping at dominic.chopping@wsj.com;
@domchopping @WSJNordics
(END) Dow Jones Newswires
April 30, 2019 02:20 ET (06:20 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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