Telenor Q1 earnings in line with forecast, repeats outlook
Reuters
Published May 04, 2023 06:14
Updated May 04, 2023 07:45
OSLO (Reuters) - Norwegian telecoms operator Telenor on Thursday reported first-quarter earnings in line with expectations and reiterated its financial guidance.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for January-March was flat year-on-year at 8.1 billion Norwegian crowns ($755.92 million). Analysts polled in a Refinitiv survey on average had expected 8.2 billion crowns.
Telenor's own earnings consensus had predicted an adjusted EBITDA of 10.1 billion crowns on average, as profits from its Thai unit were still included. It did not immediately provide a comparable figure.
Telenor repeated it expects its Nordic business to show low-to-mid single-digit growth for both service revenues and EBITDA this year, while capital expenditure in the Nordics is expected to be around 17% of revenues.
"We will continue with our Nordic modernisation agenda to drive profitable growth," CEO Sigve Brekke said in a statement.
The operator, which has about 158 million customers across the Nordic region and Asia, announced in September last year it mulled a potential listing of its Asian unit.
Last year it completed a $15 billion merger to form a telecoms leader in Malaysia and completed a $8.6 billion deal in Thailand in March this year.
Both its Malaysian and Thai units are now listed under discontinued operations.
(This story has been officially corrected throughout to show that the earnings consensus figure provided by Telenor was wrong)
($1 = 10.7154 Norwegian crowns)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.