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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Telenor ASA    TEL   NO0010063308

TELENOR ASA

(TEL)
  Report
Real-time Estimate Quote. Real-time Estimate CHI-X - 11/25 07:01:22 am
152.725 NOK   +0.68%
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Telenor : Norway's Telenor lifts 2020 earnings view after Q3 beat

10/21/2020 | 01:36am EST

* Q3 EBITDA NOK 14.6 bln vs forecast NOK 14.1 bln

* Expects 2020 EBITDA to rise vs earlier flat forecast

* Says cost cuts outweigh revenue decline

* Shares rise 3%

OSLO, Oct 21 (Reuters) - Norway's Telenor raised its full-year earnings guidance after beating third-quarter expectations on Wednesday as cost cuts offset lower subscriber and roaming revenue.

Shares in the telecoms provider, which late on Tuesday sold its headquarters to free up capital, were 3% higher at 0805 GMT, outperforming a 0.2% decline in Oslo's benchmark index.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the July-September quarter rose 4% to 14.6 billion Norwegian crowns ($1.58 billion), topping the 14.1 billion expected by analysts, Refinitiv Eikon data showed.

Telenor, active in nine countries across Europe and Asia, said it expected underlying core earnings (EBITDA) to rise by a low single digit percentage this year, compared with its previous forecast of a flat year-on-year outcome.

The company's operations in Pakistan and Bangladesh saw strong subscriber growth in the quarter, a turnaround from the decline seen in the preceding three months when COVID-19 lockdowns prevented many from topping up pre-paid subscriptions.

"Telenor's third quarter results highlight the strength of our operating model," Chief Executive Officer Sigve Brekke said.

The company cut operating costs by 8% in the quarter, helping to cushion a 2% fall in its underlying subscriber and roaming revenue.

"The very strong cost performance once again from Telenor is driving the good quarter," JP Morgan wrote in a note to clients.

Overall revenue, including from acquired businesses, rose to 30.0 billion crowns from 28.4 billion a year ago, just missing analyst expectations of 30.3 billion.

Telenor maintained a prediction for a low single-digit percentage decline in annual subscription and traffic revenue, as well as a forecast that capital expenditure would amount to around 13% of sales for the full year.

The company's operations in Thailand took a hit from the continued shortfall in tourism revenues, while increased competition in Malaysia and a regulatory re-registration of SIM cards for mobile phones in Myanmar impacted its overall subscriber base.

($1=9.2290 Norwegian crowns) (Reporting by Terje Solsvik; Editing by Aditya Soni and Mark Potter)


© Reuters 2020
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Financials
Sales 2020 124 B 13 962 M 13 962 M
Net income 2020 13 317 M 1 499 M 1 499 M
Net Debt 2020 114 B 12 836 M 12 836 M
P/E ratio 2020 16,1x
Yield 2020 5,93%
Capitalization 209 B 23 430 M 23 562 M
EV / Sales 2020 2,61x
EV / Sales 2021 2,52x
Nbr of Employees 20 000
Free-Float 44,6%
Chart TELENOR ASA
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Telenor ASA Technical Analysis Chart | TEL | NO0010063308 | MarketScreener
Technical analysis trends TELENOR ASA
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 170,00 NOK
Last Close Price 151,70 NOK
Spread / Highest target 27,2%
Spread / Average Target 12,1%
Spread / Lowest Target -1,12%
EPS Revisions
Managers
NameTitle
Sigve Brekke President & Chief Executive Officer
Gunn Wærsted Chairman
Tone Hegland Bachke Chief Financial Officer
Ruza Sabanovic Executive VP, Head-Technologies & Services
Sally Margaret Davis Director
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