Telenor ASA (ADR) ( (TELNY) ) has realeased its Q3 earnings. Here is a breakdown of the information Telenor ASA (ADR) presented to its investors.
Telenor ASA, a leading telecommunications provider, operates across the Nordics and Asia, offering mobile and fixed-line services with a focus on digital safety and sustainable practices.
In its third quarter of 2024, Telenor reported a modest increase in service revenues and EBITDA, attributed to strategic pricing initiatives and subscriber growth in the Nordics, despite challenges in the Asian markets. The company highlighted a net income of NOK 3.3 billion this quarter, benefitting from a reversal of impairment and increase in fair value related to its investments.
Key financial metrics show service revenues at NOK 16.2 billion, with a 2.3% increase, and EBITDA before other items at NOK 9.2 billion, reflecting a 1.8% organic growth. The Nordic region posted strong results with a 3.2% growth in service revenues. However, Asia faced setbacks due to political and economic disruptions in Bangladesh, impacting overall performance. Telenor’s capex to sales ratio stood at 14.1% for the quarter.
Looking ahead, Telenor anticipates continued organic growth in the Nordics, though tempered by tougher year-on-year comparables. The company aims for a 3-4% growth in organic EBITDA for 2024, while addressing challenges in Asia, particularly in Bangladesh. With a focus on strategic pricing and cost management, Telenor remains committed to sustainable growth and enhancing shareholder value.
As Telenor prepares for a leadership transition, the company is poised to maintain its strategic focus, leveraging its strong position in the telecommunications sector to drive future success.
