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

TELENOR ASA

(TEL)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 11/27 10:20:00 am
152.9 NOK   +0.69%
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Telenor : subscriber base takes hit from Asian virus outbreaks

07/16/2020 | 03:31am EST
FILE PHOTO: Telenor's logo is seen in central Belgrade

Telenor reported solid growth in quarterly earnings on Thursday, but the Norwegian telecoms operator cut its forecast for the full year, saying uncontrolled coronavirus outbreaks in Bangladesh and Pakistan had dented its subscriber base.

Telenor reported solid growth in quarterly earnings on Thursday, but the Norwegian telecoms operator cut its forecast for the full year, saying uncontrolled coronavirus outbreaks in Bangladesh and Pakistan had dented its subscriber base.

The Oslo-headquartered firm, active in nine countries across Europe and Asia, said the base fell by 3.2 million to 182 million between April and June, with declines in prepaid contracts in Asia particularly sharp.

It said it expected a single-digit decline in both the base and traffic revenue in 2020.

The overall impact of the pandemic on first half earnings was around 1 billion crowns (£85.21 million), with Asia - notably Pakistan and Bangladesh - accounting for 80% of that, Chief Executive Sigve Brekke told the results presentation.

"In those two markets the spread of the virus is out of control, as we see it, and it's unclear when the markets could be reopened," he said.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for April-June rose 19% to 14.33 billion Norwegian crowns, beating the 13.77 billion average of analysts in a Refinitiv poll.

Excluding acquisitions, EBITDA rose 1%, it said, cutting its full year forecast for that measure to flat from a rise of 2-4%.

Telenor shares fell 4.5% at the opening, and were down 3.3% by 0845 GMT.

Overall, operational costs were reduced by 12% year-on-year, offsetting the 4% decline in organic subscription and traffic revenue.

Brekke said the company planned to focus on three growth areas: new additional services in the Nordics, development of 5G wireless networks, and data services in Asia, Brekke said.

($1 = 9.3120 Norwegian crowns)

($1 = 9.3101 Norwegian crowns)

(Reporting by Nerijus Adomaitis, Editing by Sherry Jacob-Phillips and John Stonestreet)


© Reuters 2020
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Financials
Sales 2020 124 B 14 050 M 14 050 M
Net income 2020 13 317 M 1 509 M 1 509 M
Net Debt 2020 114 B 12 917 M 12 917 M
P/E ratio 2020 16,3x
Yield 2020 5,86%
Capitalization 212 B 23 968 M 23 977 M
EV / Sales 2020 2,63x
EV / Sales 2021 2,54x
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 153,40 NOK
Spread / Highest target 25,8%
Spread / Average Target 10,8%
Spread / Lowest Target -2,22%
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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