Norway’s Telenor raises annual revenue outlook

Telenor kept its forecast for the capex-to-sales ratio unchanged at 15% to 16%.

OSLO: Telenor raised its full-year revenue outlook yesterday, despite the Norwegian telecoms operator posting a weaker-than-expected quarterly adjusted operating earnings.

Adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) for the April-June quarter fell to 12.35 billion Norwegian crowns (US$1.38bil or RM5.8bil), from 13.18 billion crowns (RM6.2bil) a year earlier, and missed forecasts of 12.7 billion crowns (RM6bil) in a company-compiled poll.

“Telenor returned to growth in the second quarter. The growth was driven by strong performance in the Nordics, combined with a growing subscriber base and increased data consumption in the Asian markets,” chief executive Signe Brekke said in a statement.

The company, which is selling its Myanmar telecom assets, now expects organic subscription and traffic revenue growth of 0-1% and organic Ebitda growth of 0% to 2%, up from a previous forecast of maintaining the 2020 level.

It kept its forecast for the capex-to-sales ratio unchanged at 15% to 16%. ― Reuters