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2021-10-28

Subscriber growth and strong cash flow

(Fornebu, 28 October 2021) «In the third quarter, Telenor reports flat organic subscription and traffic revenues, a 2% decline in organic EBITDA and a strong cash flow of NOK 7 billion. The results are impacted by the prevailing covid situation in Asia, nevertheless, we see strong trends, adding almost 2 million subscribers this quarter and almost 7 million year to date.

The solid performance in the Nordics continued. In Norway, demand for value added services drove a 3 % mobile ARPU growth in the quarter. The 5G rollout and copper decommissioning is running at full speed, supporting our superior network position and laying the foundation for future service growth.

In Finland and Denmark, the strong performance resulted in 4 % growth in subscription and traffic revenues.

In Asia, there are early signs of gradual recovery from the impact of the pandemic. Subscriber growth and increasing data usage are important drivers in Bangladesh and Pakistan. In Thailand, the results are impacted by lockdowns. The country, however, is signaling re-opening of the borders for tourists towards the end of the year. In Malaysia, we see gradual improvement in performance through targeted market initiatives, supported by government stimuli packages and easing of restrictions as a result of high vaccination rates.

During the pandemic, we have accelerated the execution of our strategic ambitions, including modernisation and digitalization initiatives. As a result, our operations today are more efficient and resilient than they were at the beginning of the pandemic. Based on the performance so far this year, and on our expectations for the fourth quarter, we maintain our outlook for 2021.»

Sigve Brekke, President and CEO, Telenor Group

 

KEY FIGURES TELENOR GROUP* Third quarter First three quarters Year
NOK in million 2021 2020 2021 2020 2020
Revenues 27 411 28 408 82 087 86 517 115 839
Organic revenue growth (%) 0.3 -2.7 1.0 -2.4 -2.7
Subscription and traffic revenues 20 698 21 465 61 542 65 693 87 147
Organic subscription and traffic revenue growth (%) -0.1 -2.9 -0.3 -2.3 -2.6
EBITDA before other income and other expenses 12 856 13 623 37 418 39 798 52 347
Organic EBITDA growth (%) -2.2 3.3 0.1 1.4 1.0
EBITDA before other income and other expenses/Revenues (%) 46.9 48.0 45.6 46.0 45.2
Net income attributable to equity holders of Telenor ASA 2 642 4 5...
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