Telenor Posts 3Q Net Profit Miss as Pandemic Impact in Asia Weighed
28 Ottobre 2021 - 8:29AM
Dow Jones News
By Dominic Chopping
Norwegian telecoms provider Telenor ASA on Thursday posted a
lower-than-expected third-quarter net profit as earnings were
weighed by continued pandemic restrictions in Asia, but maintained
its full-year guidance.
The company posted a third-quarter net profit attributable to
shareholders of 2.64 billion kroner ($313.5 million) from NOK4.53
billion last year. Revenue fell 3.5% to NOK27.41 billion.
Analysts polled by FactSet had expected net profit of NOK3.3
billion and revenue of NOK27.64 billion.
The third-quarter mobile subscription base grew by 1.8 million
compared with the second quarter to 172.1 million.
Telenor said the pandemic continues to affect its operations in
Asia, but there are early signs of gradual recovery in the region.
In the Nordics, the solid performance continued, it added.
For 2021, Telenor still expects organic subscription and traffic
revenue growth of 0%-1% and organic earnings before interest, tax,
depreciation and amortization growth of 0%-2%.
The capex-to-sales ratio is still anticipated at 15%-16%.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 28, 2021 02:14 ET (06:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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