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Telenor Group Reported USD$248 million Loss in Q4

Clock 14 February 2016
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Telenor Group Reported USD$248 million Loss in Q4 Image Credit: Telenor

Telenor group reported a loss after tax of $2.12 billion Norwegian kroner(USD$248 million) in the last quarter of 2015 mainly due to an impairment charge at its Danish operation. The operator however recorded a revenue growth of 2.3% year-on-year to $33.5 billion Norwegian kroner with the group's Asian operations generating over 50% of the group’s total revenues during the quarter. Telenor reported a net addition of 6.6 million mobile subscribers during the quarter, taking the total number of customers to 203 million.

At country level, Telenor reported solid trends in the mobile consumer segment across Norway and Sweden from the increasing data usage and relevant offers. On the fixed side, both operations continued to grow their high-speed internet subscriber base, adding 107,000 connections during the year.

In Thailand, Telenor's subsidiary dtac added 400,000 customers during the quarter, with growth both in prepaid and contract segments. Performance of its other subsidiary in neighbouring country, Malaysia however was hampered by intense competition on data and international calls, as well as a weakening currency.

Telenor’s operations in Bangladesh and Pakistan in the meantime showed strong performance, both in terms of subscriber growth and profitability. Additionally, Telenor Myanmar also made impressive progress in its first year of operation, and ended the year with 14 million subscribers.

Sigve Brekke, Chief Executive Officer of Telenor Group
Five per cent organic revenue growth and five per cent organic EBITDA growth in 2015 shows the strength of our portfolio of operations. We are, however, entering 2016 with increased competition in some of our key markets, and it will be my key priority to secure focus on profitable growth and cost efficiency.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

Ray can be reached at ray.sharma(at)thefastmode.com.

 

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