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Telenor organic sales growth improves to 2% in Q2
2013-07-23 09:52:00| Telecompaper Headlines
(Telecompaper) Telenor has maintained its outlook and announced a share buyback, after reporting improved organic sales growth and margins in the second quarter. After flat sales in Q1 on an organic basis, growth improved to 2 percent in Q2, allowing the operator to maintain its guidance for 2-4 percent organic revenue growth this year. Sales totaled NOK 25.75 billion, and adjusted EBITDA improved to NOK 8.86 billion from NOK 8.06 billion a year earlier, helped by reduced losses in India and growth in Thailand, Sweden and Norway. The EBITDA margin rose to 34.4 percent from 31.8 percent, and Telenor expects a result around 34 percent for the full year. Telenor's net profit jumped to NOK 3.25 billion from NOK 2.07 billion a year ago, thanks to improved results from its stake in Vimpelcom. Telenor increased capex to NOK 3.48 billion from NOK 2.96 billion, while operating cash flow was also higher, at NOK 5.37 billion versus NOK 5.1.6 billion a year ago. The company will buy back up to 1 percent of its outstanding shares under the new buyback programme running until its AGM next year. The group maintained its guidance for annual capex at 12-14 percent of revenues this year, excluding licence and spectrum costs.
Tags: sales
growth
organic
improves
Category:Telecommunications