Telenor’s Q1 numbers slip

Almost all of Telenor’s broadcasting divisions came under pressure during Q1. Its numbers saw pay-TV outfit Canal Digital make modest progress from last year’s (Norwegian Kroner) NOK 1.045 billion to NOK 1.05 billion, and improved EBITDA from NOK 98 million (same period last year) to NOK 106m, which translated into an operating profit of NOK 93 million (NOK 90m). DTH subscriber numbers fell back from 1.05 million (same period last year) to 986,000, while cable numbers also suffered (falling from 242,000 to 231,000). “Revenues in Canal Digital DTH were in line with the first quarter of 2010 as the effect of price increases and currency effects was offset by reduced subscriber base and lower sale of hardware,” said Telenor.

Telenor’s satellite broadcasting division (TSB) also suffered. “Revenues and EBITDA in Satellite Broadcasting decreased as revenues from the CEE region was more than offset by reduced revenues from the Nordic region,” said the company. Q1 revenues for TSB fell back from NOK 259 million (Q1/2010) to NOK 239 million. Operating profits slipped NOK 5 million to NOK 103 million.

Telenor’s Conax encryption division also slipped slightly from last year’s NOK 131 million to NOK 128m, with a commensurate fall in EBITDA to NOK 48 million (from NOK 50m), yet holding operating profitability steady at NOK 37 million. “EBITDA in Conax was in line with the first quarter of 2010 as increased volume of smart cards was offset by reduced prices, and a higher share of cards delivered as a part of service contracts,” said Telenor.

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