Telenor, the Norwegian multinational telco, has reported that full year revenues increased by 1 per cent to NOK 32.1 billion (€3.36bn).
In a statement, the company said: “In 2017, Telenor delivered a solid set of results due to strong execution from across the company and continued follow-through on efficiency measures and our strategy. We met our financial targets and reported strong financial results for the past year, marked by a 1 per cent organic increase in revenues and total net cost reductions of NOK 1.6 billion, leading to increased profitability and cash flow of NOK 25 billion.
During the fourth quarter, we saw continued subscription and traffic revenue growth and solid EBITDA uptake, on an organic basis. We achieved cost savings of NOK 0.6 billion during the final three months of the year, reported an EBITDA margin of 37 per cent and added two million new mobile customers.
We enter 2018 with clear priorities to deliver on our digital transformation agenda, to continue to seek efficiency gains and revenue growth, while simplifying our portfolio and way of work across the company. Change starts with people, and in order to succeed with our transformation, we will continue to invest in our teams. We seek to personalise our customers’ experience and improve satisfaction based on their needs and preferences.
Telenor aims to create value by becoming even more efficient in how we operate, how we deliver our services and how customers experience us through the digitalisation of IT and technology and our customer journeys. We are proud to connect our 178 million customers to what matters most to them. We truly believe that connected societies are empowered societies,” said Telenor Group CEO Sigve Brekke.