Results
Telenor maintains the expectations for 2016, but write down the values in India with four billion.
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Telekomselskapet Telenor delivers better results than expected in the third quarter. At the same time tynges the accounts of large write-downs in India, as well as massive loss on the sale of assets, as aksjenedsalget in work at vimpelcom.
the Third quarter has shown a good development, with continued revenue growth and a record high EBITDA, supported by a strengthened focus on cost control in the group. A highlight this quarter is the uplifting developments that we see in Bangladesh and Pakistan as a result of increased data usage, ” says Telenor ceo Sigve Brekke in the current message.
Income before tax, depreciation and write – downs (ebitda) and other items were on the 12.459 million, compared to 11.848 million in the same period last year.
It was in advance expected an ebitda before other items of 11.911 million, according to TDN Finans.
Telenor had an ebitda of 12.383 million in the third quarter of 2016, compared with 11.430 million in the same period the year before. It was expected an ebitda of 11.850 million.
Maintains guiding
the Turnover was 32.8 billion (31,8), against 32,8 billion expected.
- While the turnover in the Uk is affected by lower income from international gjesting, we look at the same time good demand for our new mobilabonnementer. Also developments in the field of high-speed internet access in Norway and Sweden has been good in the quarter, ” says Brekke.
Telenor maintains previously guiding for helåret. Telenor still see an organic sales growth of 1-2 percent in 2016, and an ebitda margin before other items at about 35 percent.
Massive write-down
at the same time be written licenses in India down with the billion, that is weighing the company’s operating profit (see table).
“As a result of recent observations in the indian market, the fair value of licenses in India has been assessed and it has been made an impairment loss of nok 4.0 billion”, states in the quarterly report.
the Profit before tax is also burdened by a loss of 3.2 billion from the sale of assets.
- during the third quarter we started the process of selling our shares in the work at vimpelcom Ltd. after the strategic decision to sell out of the company. We will continue to focus on creating value from the increased demand for data in our core businesses, ” says Telenor chief.
An income tax of 1.6 billion, contributing to a net loss of -4,0 billion in the third quarter (-1,8), against an expected net profit of $ 0.3 billion.
| Telenor ASA, figures in mill. money | 3. kv 2016 | 3. kv 2015 | Waiting (TDN Finans) |
| Driftsinntekter | 32.794 | 31.836 | 32.871 |
| Driftsesultat | 3.167 | 6.587 | 6.826 |
| Profit before tax | -2.353 | 702 | 2.550 |
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