Telenor ASA (OSE: TEL) reported organic revenue growth of 8% and reported growth of about 4% year-on-year to 25.1 billion NOK on Q1 2012. Adjusted EBITDA of 7.7 billion, for over 30% EBITDA margin and adjusted operating profit of 4 billion are also strong than in comparison period. Due to a 3.9 billion impairment from India operations, profit after taxes slides to 583 million (0.37 NOK per share) from 2.8 billion a year ago. Telenor Pakistan was highlighted as an area showing particularly large improvement.
The telecom operator said it is confident that the company has fully complied to applicable laws and regulations pertaining to the recent VimpelCom stake increase that has been challenged by Russian authorities. Telenor is currently excluding India operations (Uninor) from its guidance for reasons known to most. These are given as organic revenue growth above 4% and EBITDA margin before other income and expenses in between 35 and 36% with CAPEX/revenues excluding licenses and spectrum between 10-12%. Investors have reacted mildly positively as the stock continues to show resiliency in the face of individual challenges.
No comments:
Post a Comment