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Telenor improves FY margin outlook
2014-07-23 09:13:00| Telecompaper Headlines
(Telecompaper) Telenor improved its full year outlook, saying it now expects a higher EBITDA margin this year. In the second quarter, the margin improved to 35.9 percent from 34.4 a year ago, and the figure was up 1.3 percent points over the first half of 2014. The operator maintained its forecast for low single-digit organic growth this year, after a 1.6 percent increase in Q2. Total revenues rose to NOK 26.80 billion from NOK 25.75 billion a year ago, with only Thailand, Denmark and the Broadcast division showing lower results. Adjusted EBITDA was up to NOK 9.6 billion from NOK 8.86 billion, helped by the acquisition of Globul in Bulgaria. Net profit fell to NOK 2.32 billion from NOK 3.25 billion, hurt by a number of one-time charges associated with Telenor's stake in Vimpelcom, the sale of C More and the classifieds venture with Schibsted. Capital expenditure rose to NOK 3.96 billion excluding spectrum licences, equal to 14.9 percent of revenue. Telenor slightly lowered its full-year capex outlook to 14-15 percent of revenue, after shifting plans for satellite spending to next year.
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Category:Telecommunications