In 2017, Telenor delivered a solid set of results due to strong execution from across the company and continued follow-through on efficiency measures and our strategy. We met our financial targets and reported strong financial results for the past year, marked by a 1% organic increase in revenues and total net cost reductions of NOK 1.6 billion, leading to increased profitability and cash flow of NOK 25 billion.
During the fourth quarter, we saw continued subscription and traffic revenue growth and solid EBITDA uptake, on an organic basis. We achieved cost savings of NOK 0.6 billion during the final three months of the year, reported an EBITDA margin of 37% and added two million new mobile customers.
We enter 2018 with clear priorities to deliver on our digital transformation agenda, to continue to seek efficiency gains and revenue growth, while simplifying our portfolio and way of work across the company. Change starts with people, and in order to succeed with our transformation, we will continue to invest in our teams. We seek to personalise our customers' experience and improve satisfaction based on their needs and preferences.
Telenor aims to create value by becoming even more efficient in how we operate, how we deliver our services and how customers experience us through the digitalisation of IT and technology and our customer journeys. We are proud to connect our 178 million customers to what matters most to them. We truly believe that connected societies are empowered societies, said Telenor Group CEO Sigve Brekke.
NOK (in millions) Q4 2017 Q4 2016 FY 2017 FY 2016
Revenues 32 093 31 727 124 756 125 395
Organic revenue growth (%) (0.5) 0.6 0.7 0.8
Organic subscription and traffic revenue growth (%) 2.6 0.8 2.2 1.9
EBITDA before other income and other expenses 11 835 10 649 48 992 45 966
EBITDA before other income and other expenses/Revenues (%) 36.9 33.6 39.3 36.7
Net income attributable to equity holders of Telenor ASA 2 226 2 286 11 983 2 832
Capex excl. licences and spectrum/Revenues (%) 17.1 21.3 14.6 17.4
Capex/Revenues (%) 19.2 21.3 17.1 20.2
Free cash flow 3 327 1 509 24 867 10 300
Mobile subscriptions Change in quarter/Total (mill.) 2.0 4.0 178 170
With effect from the first quarter 2017, Telenor India is treated as an asset held for sale and discontinued operations in Telenor's financial reporting.
Fourth quarter 2017 summary
Total reported revenues increased by 1% to NOK 32.1 billion. On an organic basis, revenues dropped 0.5%, while subscription and traffic revenues rose by 3%, positively impacted by a negative one-time item in Sweden last year.
Currency adjusted opex decreased by NOK 0.6 billion, or 5%.
EBITDA before other items was NOK 11.8 billion, corresponding to an EBITDA margin of 37%, an increase of 3 percentage points from last year.
Net income attributable to equity holders of Telenor ASA was NOK 2.2 billion, or NOK 1.49 earnings per share. Adjusted for impairment in Tapad of NOK 1.7 billion and reversal of impairment of NOK 1.2 billion in Denmark, net income was NOK 2.6 billion.
Capex excluding spectrum and licences was NOK 5.5 billion, resulting in a capex to sales ratio of 17%.
Free cash flow for the quarter was NOK 3.3 billion.
Shareholder remuneration
Based on the performance during the year, the Board of Directors proposes a dividend of NOK 8.10 for 2017, to be declared by the Annual General Meeting (AGM) on 2 May 2018. The dividend shall be split into two tranches of NOK 4.20 and NOK 3.90 per share, to be paid in May and November 2018, respectively.
The 2017 buyback programme is expected to be completed by the end of February 2018. The company plans to ask the AGM for a new buyback mandate to secure flexibility for additional shareholder remuneration.
Outlook
For 2018, we expect an organic subscription and traffic revenue growth of 1-2%, an organic EBITDA growth of 1-3% and capex excluding licences and spectrum of NOK 18-19 billion.
Media Contact
Meera Bhatia, mobile ( 47) 46 84 49 59, meera.bhatia@telenor.com
Investor Relations Contacts
Marianne Moe, mobile: ( 47) 91 61 76 31, marianne.moe@telenor.com
Helge ien, mobile: ( 47) 91 31 92 42, helge.oien@telenor.com
Press and analyst presentation
In connection with the publication of the financial results, a press and analyst conference will be held on Wednesday 31 January at 09:00 hrs Norwegian time/CET. The presentation, which will also be broadcast live via webcast, will be held in Auditorium Voice, Telenor Expo Visitor Centre at Fornebu, near Oslo. CEO Sigve Brekke and CFO J rgen C. Arentz Rostrup will present the results. The presentation will be held in English.
You may also call in and listen to the presentation over the phone. This service allows you to ask questions during the Q&A session at the end of the presentation. To participate in the conference call, please register before the conference starts by calling:
47 2100 2610 (Norway)
46 (0) 8 5033 6574 (Sweden)
44 (0) 330 336 9105 (UK)
1 323 794 23 (US)
Please state the confirmation code: 2705989
Material
The quarterly report and the presentation are available here. https://www.telenor.com/investors/reports/2018/telenor-groups-results-for-the-4th-quarter-2017/
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet, a leading technology and service provider for media-rich organizations, a...
28/04/2024
Mediahaus delivers the first SRT live-streaming sports production over 5G with U...
25/04/2024
Sundance Institute Founder Robert Redford during a press conference at the 1996 ...
25/04/2024
alt= class=wp-image-12361 data-lazy-src=/wp-content/uploads/2024/04/NAB-booth-2024-960x540-1.jpg/> Set against a vibrant backdrop of innovation and collaboratio...
25/04/2024
alt= class=wp-image-12356 data-lazy-src=/wp-content/uploads/2024/04/NAB-mod-win-960x540-1.jpg/>NAB's Eric Trabb (right) awards SNS with two NAB Show Product...
25/04/2024
PHILADELPHIA Comcast beat earnings estimates in its Q1 2024 financial report, as streaming losses continued to decline and Peacock's paid subscribers spiked...
25/04/2024
SEATTLE The Seattle Kraken have inked new multi-year agreements with Tegna and Prime Video that will expand access to their games over broadcast stations and st...
25/04/2024
M2A Medias Matt Hughes asks, is it time for news broadcasting to shift to the cloud?
By Contributor
Published: April 25, 2024
M2A Media's Matt Hughes ...
25/04/2024
Cintel Scanner G3 HDR Restores Egypt's Cinema Treasures to Their Former Glo...
25/04/2024
Sinclair Broadcast Group said it named Kevin Coskren chief meteorologist at KTUL, its ABC affiliate in Tulsa, Oklahoma....
25/04/2024
The Business of TV News, a new one-day event featuring Martha Raddatz, Shannon Bream, Glenn Kirschner and other major figures in television news, happens at Hot...
25/04/2024
Conditions put on the proposed sale of WADL Detroit, to Mission Broadcasting have created a potential drama in the Motor City....
25/04/2024
TelevisaUnivision reported a $52 million loss in the first quarter, up from $3 m...
25/04/2024
Comcast reported flat first-quarter earnings as it reduced the red ink at Peacock but continued to lose video and broadband customers....
25/04/2024
Music-video network Vevo said it launched its app on Telly, the company offering consumers free dual-screen TVs in return for data about what they're watchi...
25/04/2024
Future Today said it has introduced a redesigned user interface for about half of its 300 streaming apps, including Fawesome, HappyKids and iFood.TV....
25/04/2024
The writer and director of a hit Czech series tell Robert Shepherd about their approach to portraying real-life Pakistani kidnappings on the small screen, while...
25/04/2024
Notorious DIT will work with the Liverpool Film Office to increase opportunities for regional talent
By Matthew Corrigan
Published: April 25, 2024
Notorio...
25/04/2024
Broadpeak , a leading provider of content delivery network (CDN) and video streaming solutions for content providers and pay-TV operators worldwide, announced t...
25/04/2024
Lightware Visual Engineering, a leading manufacturer of connectivity solutions for the professional integrated systems market and a pioneer in signal management...
25/04/2024
Net Insight has entered into a collaboration with DMC Production that positions Net Insight at the forefront of sports broadcasting in the Nordics. Net Insight ...
25/04/2024
GlobalM has announced a strategic partnership with scoopa, the specialists in broadcast-quality content distribution, offering a complementary service for live ...
25/04/2024
PlayBox Neo announces the completion of a new multichannel playout system for the DDish direct-to-home satellite television network in Mongolia. Based in the na...
25/04/2024
Canadian music producer and engineer Garth Richardson also known as Gggarth due to his stutter - has embraced immersive audio by installing a PMC monitoring s...
25/04/2024
Leading video software provider Synamedia today announced that Televisa, the Mexican telecommunications and broadcasting company, has chosen Synamedia as its pa...
25/04/2024
OTTera, a leading provider of end-to-end OTT and FAST channel solutions, proudly announces its strategic partnership with ThinkAnalytics, a global leader in adv...
25/04/2024
The American Tobacco Campus will be hopping with activity tonight and this weekend with two fun events!
Durham Night Market
At last! The Durham Night Market i...
25/04/2024
WEST CHESTER, Pa. Video commerce provider Qurate Retail Group has launched The Big Dish, a new culinary-themed FAST channel on The Roku Channel....
25/04/2024
LOS ANGELES The Hollywood Professional Association has announced that submissions for the 2024 HPA Engineering Excellence Awards are now being accepted. This re...
25/04/2024
NEW YORK The digital media measurement and analytics firm DoubleVerify has announced that it has received Media Rating Council (MRC) accreditation for Video Vie...
25/04/2024
SAN FRANCISCO Fox Corp.'s ad-supported streaming service Tubi has announced a licensing agreement with the sports platform DAZN that will see DAZN Ringside ...
25/04/2024
NEW YORK In the runup to the 2024 IAB NewFronts, the IAB has announced three key appointments to its leadership team....
25/04/2024
Epic Games releases Unreal Engine 5.4 with new Motion Design Mode, Unreal VCam f...
25/04/2024
Content Creation, Production, Distribution Is In a State of Flux
Andy Marken April 24, 2024
0 Comments
My empathy is creeping towards what I would de...
25/04/2024
The Carolina Panthers and Capitol Broadcasting Company (CBC) announced they have...
25/04/2024
Berklee Student Riko Sasaski Named 2024 Yamaha Young Performing Artist The accomplished saxophonist secured a spot among the elite winners of this year's ...
25/04/2024
Stations everywhere take pride in having a main anchor who comes from the market they represent. That applies in St. Louis, too, but it also pertains to general...
25/04/2024
Edward Moody is joining the WBTW Myrtle Beach, South Carolina, anchor crew, and will anchor the 5, 6 and 11 p.m. newscasts alongside Trish Williford. He comes f...
25/04/2024
MTV said the 2024 Video Music Awards will return to New York and take place at the new UBS Arena....
25/04/2024
Season three of comedy The Outlaws premieres on Prime Video May 31. Stephen Merchant co-created the show, and stars. There are five episodes....
25/04/2024
The E.W. Scripps Co. is evaluating offers for Bounce, its multicast channel for African-American viewers, according to a report from CNBC....
25/04/2024
Paramount Plus has ordered a second season for Dora, the animated preschool show based on Dora the Explorer. The show, featuring Dora on a rainforest adventure ...
25/04/2024
Bayanat AI PLC (ADX: BAYANAT), a leading AI-powered geospatial solutions provider, and Al Yah Satellite Communications Company P.J.S.C. (ADX: YAHSAT), the UAE&#...
25/04/2024
April 25th, 2024 Press Materials Available Here
TRIBECA FESTIVAL 2024 ANNOUNCES AUDIO STORYTELLING AND GAMES LINEUP
Audio Storytelling Program Features 10th ...
25/04/2024
NFL Draft 2024: Verizon Expands Broadband Capacity To Handle the Spike in Demand Mobile cells will help accommodate first responders, social media, sports betti...
25/04/2024
NFL Draft 2024: NFL Media Teams With The Fantasy Footballers on Hybrid, REMI Pro...
25/04/2024
NFL Draft 2024: ESPN Motors Into Detroit With Trio of Simultaneous Live Presenta...
25/04/2024
Published On: April 25th, 2024
data-orig-src=https://www.sgo.es/wp-content/upl...
In 2017, Telenor delivered a solid set of results due to strong execution from across the company and continued follow-through on efficiency measures and our strategy. We met our financial targets and reported strong financial results for the past year, marked by a 1% organic increase in revenues and total net cost reductions of NOK 1.6 billion, leading to increased profitability and cash flow of NOK 25 billion.
