Telenor Q313 net profit up 7.4%

Telenor Q313 revenues were up very slightly, while net profit was also up, but hurt by currency losses.

Telenor Group reported revenues of NOK26 billion (US$4.4 billion), representing an organic revenue growth of one per cent. EBITDA before other items was NOK9.6 billion, EBITDA margin was 37 per cent, and operating cash flow was NOK5.9 billion.

Net profit came in at NOK3.92 billion as compared to NOK3.65 billion a year ago. The company absorbed a NOK502 million currency loss.

"Our effort to capture growth remains a top priority, while we will continue to drive efficiency improvements,” said Jon Fredrik Baksaas, president and CEO of Telenor Group.

"Based on the performance in the first three quarters and the outlook for the rest of the year, we revise the outlook for organic revenue growth to 1-2 per cent and capex to sales to 13-14 per cent. We maintain our guidance of around 34 per cent EBITDA margin," Baksaas added.