Telenor’s satellite revenues flat
October 26, 2011
Giant Norwegian telco has unveiled its Q3 results, and most of its various broadcasting-related divisions reported fairly flat revenues. For example, Canal Digital, Telenor’s pay-TV arm, saw overall revenues drop by NOK12 million (1 per cent), to NOK1,047 million (from NOK 1,059m) although total EBITDA improved by 9 per cent. Canal Digital’s DTH subs numbers were down by 6000 compared with a loss of 14,000 a year ago. Telenor’s Cable TV also lost about 1000 subs.
Telenor’s Norkring transmission division saw revenues rise impressively from NOK209 million to NOK231 million helped by revenues from Belgium.
Telenor’s satellite broadcasting operation slipped a little overall from NOK276 million to NOK 259 million. Central and Eastern European revenues were in positive territory but reduced revenues from the Nordic region dragged the division down, affecting EBITDA (down NOK20 million) and operating profits (down NOK18 million).
‘Smartcard’ encryption division Conax did well, growing revenues from NOK131 million to an impressive NOK144 million. This helped Conax boost EBITDA by NOK7 million, and operating profit grow by NOK6 million. Conax reported higher volumes of smart cards issued, but at a lower unit price.