Telenor Q4: “Solid progress, stable revenues”
January 30, 2019
Telenor, the Norwegian multinational telco, has reported that subscription and traffic revenues declined by 1 per cent in the fourth quarter on an organic basis, while total revenues remained stable. Total reported revenues were NOK 28.2 billion (€2.9bn), which is a decrease of 2 per cent. Organic subscription and traffic revenue growth for the year 2018 was slightly positive.
In a statement, Telenor Group CEO Sigve Brekke, said: “Throughout 2018, we made solid progress on the modernisation of the company and our efforts to deliver world class services to our customers. We upgraded the highest number of base stations in Telenor’s history and we took important steps towards simplifying the corporate structure. In Thailand, we made an important transition from concession to licence model, securing significant access to spectrum and infrastructure. Furthermore, we continued to deliver on our efficiency agenda and financial ambitions. For the full year, this resulted in stable revenues, NOK 1.2 billion in cost reductions and a 3 per cent EBITDA growth.
Telenor’s fourth quarter results reflect that our performance in Scandinavia continues to be robust. In Norway, we are rolling out more fibre than ever, and we continue to see growth in the mobile postpaid segment. While Bangladesh and Pakistan saw a slow start to 2018, our businesses have now regained traction and are delivering solid growth. The last six months in Myanmar and Thailand have been challenging, and negatively impacted our fourth quarter results. Returning to growth in these markets will be a top priority for us this year.
Halfway into the strategy plan we set out in 2017, we maintain our priorities and financial ambitions towards 2020. Our efforts towards digital transformation continue and I am proud to have a dedicated team with the unwavering aim to continuously grow and improve our business, and to deliver great customer experiences.”