Telenor Slips To Hefty Loss In Q1, Revenues Down; Maintains FY21 View - Quick Facts

Norwegian telecom company Telenor ASA (TELNY.PK,TELN) reported Tuesday that its first-quarter net loss attributable to equity holders was 3.89 billion Norwegian kroner, compared to last year's profit of 698 million kroner.

The results mainly reflected the impairment of Telenor Myanmar of 6.5 billion kroner.

EBITDA before other income and other expenses was 13.02 billion kroner, down from 14.11 billion kroner. Organic EBITDA dropped 2.2 percent.

Adjusted EBITDA margin was 45.1 percent, down from 45.6 percent last year.

Revenues were 28.87 billion kroner, down from 30.95 billion kroner a year ago. Organic revenue declined 1.6 percent. Organic subscription and traffic revenue fell 4 percent.

The mobile subscriber base grew 5 million, including 2 million added in Myanmar. The subscriber base was 187 million at the end of the quarter.

Looking ahead, the company noted that with limited visibility on the development in the country, it has excluded Myanmar from the outlook.

For the full year 2021, excluding Myanmar, the company still expects organic subscription and traffic revenues and EBITDA to remain around the 2020 level and a capex to sales ratio of 15-16%.

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