DOW JONES NEWSWIRES
Telenor ASA (TEL.OS), the Norwegian telecommunications firm,
Wednesday made a slight upwards adjustment to its full year revenue
guidance, as it reported better than expected profit in the third
quarter, as improved performance for its Asian operations more than
offset weaker results in other markets such as Norway.
MAIN FACTS:
-Telenor sees organic revenue growth in 2011 in the range of 6%
to 7%, from previously expecting revenue growth above 5%.
-The company expects Ebitda-margin before other income and
expenses in 2011 above 31%
-Capital expenditure as a proportion of revenues in 2011 is seen
in the range of 11% to 12%.
-3Q revenues were NOK24.63 billion, up from NOK24.10 billion and
against expectations for NOK24.74 billion.
-3Q operating profit (Ebitda) was NOK8.32 billion, up from
NOK7.75 billion and against expectations for NOK7.86 billion.
-3Q Ebitda was negatively impacted by NOK0.36 billion due to
currency effects.
-3Q net profit was NOK2.90 billion, up from NOK1.77 billion and
against expectations for NOK2.59 billion.
-Telenor said Uninor in India is starting to show Ebitda
improvement and is on track towards becoming an ultra low cost
operator.
-It added that the regulatory framework is still unclear said it
urges Indian authorities to provide clarity shortly.
-Telenor expects that Uninor will contribute with an Ebitda loss
in the range of NOK3.5 billion to NOK4 billion and capital
expenditure around NOK1 billion, in 2011.
-Telenor added that it welcomes VimpelCom management's
communicated focus on operational performance, debt repayment and
shareholder remuneration.
-On Monday shares in Telenor closed at NOK92.50.
-By Sven Grundberg, Dow Jones Newswires; +46-8-5451-3098;
sven.grundberg@dowjones.com