In
the fourth quarter of 2012, Telenor Group reported revenues of NOK 26.0
billion, representing an organic revenue growth of 5%. EBITDA before
other items was NOK 8.2 billion, EBITDA margin was 31.5 %, and operating
cash flow was NOK 4.6 billion. For the full year of 2012, Telenor's
revenues were NOK 101.7 billion, EBITDA before other items was NOK 32.8
billion, EBITDA margin was 32.2% and operating cash flow was 20.5
billion.
"I
am pleased to close an eventful year with strong financial results and
having reached important milestones. We have seen a strong increase in
demand for data services during the year. The launch of 4G services in
Norway and acquisition of a 3G licence in Thailand will enable us to
introduce even better mobile services to our customers. With the
acquisition of new licences in India, we have secured a platform for our
future in this growth market. Telenor's position in VimpelCom has been
restored, and we will support and contribute to the company's value
agenda going forward," said Jon Fredrik Baksaas, President and CEO of
Telenor Group.
"For
the full year 2012, organic revenue growth was 5%, EBITDA margin
improved notably from last year and operating cash flow exceeded NOK 20
billion. During the year, we have invested heavily to improve user
experience and prepare for increased efficiency and continued growth,"
Baksaas said.
"The
continued solid performance by our Norwegian operation reflects high
demand for both mobile and fixed line Internet services. Introduction of
new offerings and investment in superior network quality provide
our customers with the best services, coverage, capacity and the latest
mobile technology. The Asian operations have demonstrated another year
of high margins. We see smartphone and data demand picking up in
Thailand and Malaysia as well as steady operational improvements in
Pakistan," Baksaas said.
Dividend and Outlook
"As
a result of the strong operating results and a solid financial
position, the Board of Directors proposes a dividend per share of NOK
6.00 for 2012, an increase of 20% compared to 2011," Baksaas said.
"For
2013, we expect revenue growth in the range of 3-5% and EBITDA margin
around 34%. We now see the opportunity to accelerate investments to
capture market positions and expect capex/sales in the range of 12-14%.
Our solid position and strong momentum makes me confident that Telenor
Group will continue to create value for our shareholders and customers,"
Baksaas said.
Key figures
The table below contains key figures for the fourth quarter and full year of 2012, compared to the previous year.
|
|
Fourth quarter
|
Year
| ||
|
(NOK in millions except earnings per share)
|
2012
|
2011
|
2012
|
2011
|
|
Revenues
|
25 990
|
25 433
|
101 718
|
98 516
|
|
EBITDA before other income and expenses
|
8 179
|
7 417
|
32 755
|
30 526
|
|
EBITDA margin before other income and expenses (%)
|
31.5
|
29.2
|
32.2
|
31.0
|
|
Adjusted operating profit[1]
|
4 498
|
3 533
|
18 353
|
15 217
|
|
Adjusted operating profit/Revenues (%)
|
17. 3
|
13.9
|
18.0
|
15.4
|
|
Profit after taxes and non-controlling interests
|
3 193
|
(2 709)
|
9 490
|
7 165
|
|
Earnings per share from total operations, basic, in NOK
|
2.06
|
(1.70)
|
6.06
|
4. 45
|
|
Capex
|
10 371
|
3 823
|
21 511
|
11 907
|
|
Capex excl. licences and spectrum
|
3 571
|
3 638
|
12 299
|
11 441
|
|
Capex excl. licences and spectrum/Revenues (%)
|
13.7
|
14.3
|
12.1
|
11.6
|
|
Operating cash flow [2]
|
4 608
|
3 780
|
20 457
|
19 085
|
|
Net interest-bearing liabilities [3]
|
|
|
33 082
|
17 231
|
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