Telenor: quarterly profit rises helped by Norway, Finland

(CercleFinance.com) - Norwegian telecommunications operator Telenor posted higher second-quarter results on Thursday, and said that its earnings would be flat this year.


The mobile phone company, which has 182 million users in nine countries across Europe and Asia, said its EBITDA before other income and other expenses rose 1% organically to 14.3 billion Norwegian kronor in the past quarter.

Telenor said that results benefited from its strong performance in operations in Norway and Finland.

But organic revenue fell by 4.2% to 30.9 billion kronor as lockdown measures negatively affected prepaid markets in Asia, including Bangladesh and Pakistan, along with global roaming revenues.

For 2020, Telenor expects a low single digit drop in subscription and traffic revenues, with stable organic EBITDA, it said.

Telenor shares were down 3.2% on the Oslo Stock Exchange after this report.

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