| Third quarter | First three quarters | Year | ||
(NOK in millions except earnings per share) | 2010 | 2009 | 2010 | 2009 | 2009 |
Revenues | 24 096 | 22 767 | 69 985 | 68 330 | 90 748 |
EBITDA before other income and expenses | 7 885 | 8 188 | 22 042 | 23 737 | 30 670 |
EBITDA margin before other income and expenses (%) | 32.7 | 36.0 | 31.5 | 34.7 | 33,8 |
Adjusted operating profit | 3 891 | 4 601 | 10 053 | 12 619 | 15 765 |
Adjusted operating profit/Revenues (%) | 16.1 | 20.2 | 14.4 | 18.5 | 17,4 |
Profit after taxes and non-controlling interests [1] | 1 698 | 3 489 | 12 230 | 6 486 | 8 653 |
Earnings per share from total operations, basic, in NOK | 1.03 | 2.11 | 7.40 | 3.92 | 5,22 |
Capex | 2 302 | 4 430 | 7 905 | 10 267 | 15 722 |
Capex excl. licences and spectrum | 2 302 | 4 430 | 7 572 | 10 267 | 15 722 |
Capex excl. licences and spectrum/Revenues (%) | 9.6 | 19.5 | 10.8 | 15.0 | 17,3 |
Operating cash flow [2] | 5 583 | 3 757 | 14 470 | 13 470 | 14 948 |
Net interest-bearing liabilities |
|
| 19 787 | 28 628 | 26 332 |
Third quarter 2010: strengthened growth, margins and outlook
Ярлыки:
Telenor
Group delivered yet another strong quarter, with increased organic revenue growth, solid EBITDA margin and an operating cash flow of NOK 5.6 billion,” said Jon Fredrik Baksaas, President and CEO of Telenor Group.
Strong development in Asia
“Our established operations in Asia reached an organic growth in revenues of 13 per cent this quarter with annualised operating cash flow of NOK 9.3 billion. At the same time all market positions were maintained or improved. Telenor Pakistan performed better than we expected following the flooding which has severely affected the country,” Baksaas said.
“I am pleased to see promising development for Uninor in India this quarter with strong growth in subscriptions and increased average revenue per user. These improvements are a result of a focused market approach and other measures. Going forward we will continue our efforts to increase revenues and improve business processes,” Baksaas said.
Mobile data growth in the Nordic region
“The Nordic region continues to benefit from mobile data growth. However, total revenue growth was impacted by reduced international roaming fees, lower growth in handset revenues and increased competitive pressure. In Norway, we introduced new service offerings in the business segment in October to strengthen our position. Despite the ongoing mobile network modernisation we are delivering an annualised operating cash flow of NOK 10.1 billion. In addition, our broadcast business achieved 4 per cent organic revenue growth combined with strong margins,” Baksaas said
Important agreements
“During the quarter, we are pleased to have entered into important agreements regarding network modernisation and mobile Internet that in the longer term will benefit our customers,” Baksaas said.
Improved outlook for 2010
“Our outlook for 2010 has been revised upwards, as a result of strengthened operational performance, as well as the deconsolidation of EDB Business Partner. We now expect higher organic revenue growth and EBITDA margin, as well as a somewhat reduced capex to sales ratio,” Baksaas said.
Key figures
The table below contains key figures for the third quarter of 2010, compared to the previous year:
