Telenor Raises Dividend, Expects Flat-to-Slightly-Higher Earnings This Year
February 02 2022 - 2:40AM
Dow Jones News
By Dominic Chopping
Norwegian telecommunications provider Telenor ASA on Wednesday
declared a higher full-year dividend, though it cautioned that
top-line pressure in Asia remains because of intense competition
and the impact from the pandemic, while full-year earnings are
expected flat-to-slightly-higher on year.
The company posted a fourth-quarter net profit attributable to
shareholders of 587 million kroner ($66.2 million), compared with
NOK7.69 billion a year earlier, as earnings in the prior year were
boosted by disposals.
Earnings before interest, tax, depreciation and
amortization--the company's preferred measure--fell to NOK10.51
billion from NOK15.37 billion, as revenue fell 4.0% to NOK28.15
billion, the company said.
Analysts polled by FactSet had expected net profit of NOK2.39
billion and revenue of NOK28.07 billion.
Telenor declared a dividend of NOK9.30, a 3% increase from
2020.
The fourth-quarter mobile subscription base grew by 100,000
compared with the third quarter, to 172.2 million.
"Entering 2022, we will maintain our focus on returning to
growth," the company said.
For 2022 and excluding its Digi unit in Malaysia, Telenor said
it expects low-single-digits growth in service revenue, as well as
earnings before interest, tax, depreciation and amortization around
the 2021 level or slightly higher, and a capex-to-sales ratio of
16% to 17%.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
February 02, 2022 02:25 ET (07:25 GMT)
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