Telenor reported fourth-quarter revenues up 10 percent from a year earlier, to NOK 26.914 billion, pro forma for its holding in Ukraine’s Kyivstar. The EBITDA margin however fell to 32.8 percent from 33.4 percent a year earlier, amid tough market conditions in a number of countries. In particular, Telenor’s home market Norway had a “disappointing” performance, prompting the company to announce cost-cutting plans for the mobile operations there. The group’s net result came in at NOK 5.869 billion, down from NOK 6.205 billion a year earlier. For 2008, Telenor forecast revenue growth to slow to around 5 percent and an EBITDA margin of over 31 percent. Capex is expected to remain at around 20 percent of revenues, driven by high subscriber growth in emerging markets, after spending NOK 22.1 billion in 2007.
Wireless Federation » Telenor profits under pressure in Q4 (Norway)
Telenor profits under pressure in Q4 (Norway)
- February 13th, 2008
- 3:04 pm
