
Reading Time: 3 minutes
In the quarter, Telenor reported a 2 percent decline in subscription and traffic revenues due to a continued roaming shortfall and lower sales in Asia. However, this development was more than compensated by an opex reduction of 8 percent, resulting in an EBITDA growth of 4 percent and free cash flow of NOK 4 billion.
The results from the Nordic operations were strong this quarter. Telenor Norway delivers a unique combination of innovation and modernisation to their customers and see strong intake on their new speed based price plans. I am pleased to see increasing subscriber bases in Finland, Denmark and Sweden.
In Asia, Pakistan and Bangladesh show strong subscriber growth this quarter. Also this quarter we saw some impact from the COVID-19 pandemic on our business, primarily in Thailand and Malaysia. In Thailand, we experience continued effects from shortfall in tourism revenues while competition has increased in Malaysia. In Myanmar, SIM re-registrations affect the subscriber base.
Our strategy of growth, modernisation and responsible business has provided us with the ability to manoeuvre during these demanding times. We now experience a stronger EBITDA development and adjust our full year 2020 outlook to low single digit organic EBITDA growth whereas we maintain the low single digit percent decline in subscription and traffic revenue and capex to sales around 13 percent.
Sigve Brekke, President and CEO, Telenor Group
KEY FIGURES TELENOR GROUP Third quarter First three quarters Year
NOK in million 2020 2019 2020 2019 2019
Revenues 30,005 28,424 91,862 81,929 113,666
Organic revenue growth (%) -2.3 0.4 -1.7 0.6 1.2
Subscription and traffic revenues 22,903 21,724 70,523 62,591 85,954
Organic subscription and traffic revenue growth (%) -2.3 -0.1 -1.4 -0.1 0.4
EBITDA before other income and other expenses 14,571 13,132 43,008 37,338 50,735
Organic EBITDA growth (%) 3.6 -7.2 2.4 -4.8 -2.7
EBITDA before other income and other expenses/Revenues (%) 48.6 46.2 46.8 45.6 44.6
Net income attributable to equity holders of Telenor ASA 4,527 -679 9,652 5,999 7,773
Capex excl. licences and spectrum 3,669 3,726 10,564 11,841 17,415
Total Capex 4,067 3,759 11,052 11,881 18,075
Free cash flow before M&A 3,895 2,789 10,554 3,283 3,831
Total Free cash flow 4,372 -11,660 11,725 -10,258 -18,998
Mobile subscriptions Change in quarter/Total (mill.) -2.1 5.2 180.3 183.4 186.0
Third quarter 2020 summary[1]
The subscriber growth in most markets, amounting to more than 4 million, was offset by the loss of 6.3 million subscribers due to the SIM re-registration in Myanmar. Grameenphone ended the third quarter with an all time high subscriber base of 77.6 million. The Group's mobile subscription base was 180 million at the end of third quarter.
Subscription and traffic revenues decreased by 2% on an organic basis, mainly driven by the continued decline of prepaid in dtac, as well as the shortfall of roaming revenues in the Nordics. Total reported revenues were NOK 30 billion. This is an increase of NOK 1.6 billion or 6%, driven by currency effects of NOK 0.8 billion as well as the consolidation of DNA.
Currency adjusted opex excluding DNA decreased by NOK 0.7 billion or 8%, as a result of opex reductions across most business units as well as Corporate Functions. Reported opex was stable, as underlying cost reductions offset the increases related to the consolidation of DNA and currency development.
EBITDA before other items grew by 4% or NOK 0.5 billion on an organic basis, as the substantial opex reductions were able to mitigate the revenue loss. Reported EBITDA before other items was NOK 14.6 billion and the EBITDA margin was 49%.
Free cash flow before M&A was NOK 3.9 billion. Total free cash flow was NOK 4.4 billion. Capex excluding licences and spectrum was NOK 3.7 billion, yielding a capex to sales ratio of 12%.
[1] Please refer to Definitions on page 26 for descriptions of alternative performance measures. Some of the comments on the Group's financial results for the third quarter 2020 are made excluding DNA. Please refer to page 9 for the Group's consolidated figures in NOK for DNA.
Media contact: Tormod Sandst | tormod.sandsto@telenor.com | tel: +47 90 94 32 15
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
30/06/2026
Could your journalism reach an international stage?
Entries are now open for the Thomson Foundation's Young Journalist Award 2026, one of the most prestigi...
30/06/2026
As Brazil's only way for fans to see all 104 matches, YouTube channel proves the power of digital...
30/06/2026
Brings together saturation & lo-fi effects
Following on from the release of their Voxcraft vocal-processing plug-in, UJAM have announced the launch of Retro...
30/06/2026
New IR reverb engine, Juno-inspired chorus & more
The latest version of Rapid Flow's hardware-emulation synth plug-in expands on its predecessor with a ...
30/06/2026
Excels at heavy-handed VCA compression
For their latest release, Shy Audio have recreated the crunchy' sound of a rackmount compressor that found its w...
30/06/2026
Component scarcity drives cost increases
Shortly after Apple's CEO Tim Cook acknowledged that cost increases would soon be inevitable , the company hav...
30/06/2026
Statement regarding GetUp Save Our SBS' campaign
30 June, 2026
Media releases
The GetUp Save Our SBS' campaign is an independent initiative. SBS ...
30/06/2026
Hitachi and Bank Pekao S.A. have completed the installation of the first Hitachi...
30/06/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
MainStreaming, the award-winning and innovative Edge Video Delivery Network, today announced that it has been selected by ITV to support the delivery of ITVX, I...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
When Wheel of Fortune and Jeopardy! needed to upgrade their wireless communications system, they turned to Clear-Com FreeSpeak wireless for their iconic televi...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Other World Computing Launches New Atlas Core Line with 256GB CFExpress 4.0 Type...
30/06/2026
DaVinci Resolve Studio Used for Taketoshi Sado's Perfume Cold Sleep -25 year...
30/06/2026
Fernando Cruz and Jaz Wray Join as Regional Sales Managers; Bringing Extensive S...
30/06/2026
As organizations move from AI pilots to production AI factories, infrastructure decisions have shifted from peak chip specifications to cost per token: how many...
30/06/2026
Editor's note: This post is part of Into the Omniverse, a series focused on ...
30/06/2026
Scripps Research scientists demonstrate a faster, cheaper route to making critical drugs using common table sugar New method illustrates how to build a tough ch...
29/06/2026
By Andy Rayner, CTO, Appear
The 2026 FIFA World Cup is the largest football tou...
29/06/2026
A new multi-country study from ESL FACEIT Group, Hero Esports, and Niko Partners estimates that 400 million Gen Z consumers regularly engage with esports, under...
29/06/2026
ESPN will mark America's 250th anniversary with a series of content initiatives across its linear, digital, and streaming platforms, including a special edi...
29/06/2026
The Esports Foundation has named OBSBOT the Official Camera and Webcam Partner for the Esports World Cup 2026, bringing the company's AI-powered imaging tec...
29/06/2026
Insight Productions has launched Insight Storm, a 53-foot mobile broadcast unit designed specifically for esports production, live entertainment, and digital-fi...
29/06/2026
Gravity Media once again provided broadcast, streaming, and content-distribution...
29/06/2026
The All England Lawn Tennis Club and IBM have introduced new and enhanced digita...
29/06/2026
Four-layer instrument aimed at dark electronic music
Excite Audio's latest software instrument has been designed with dark drum and bass, atmospheric te...
29/06/2026
New AI Assistant, Multi-channel Audio, ARA2 improvements & more
Tracktion's DAW software has just received its latest major update, gaining a selection ...
29/06/2026
Details environmental policies & results
The Focusrite Group have just announced that following a long audit process, they have published their 2026 sustain...
29/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/06/2026
CVP, one of Europes leading suppliers of professional video and broadcast solutions, has announced the launch of CVP Warranty , a new extended warranty programm...
29/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/06/2026
Anthropic's Claude models in Microsoft Foundry - hosted on Microsoft Azure a...
29/06/2026
Arvato Systems Achieves AWS Cloud Operations Competency
The team behind the AWS Cloud Operations Competency (from left to right: Philipp Hellmich, Johanna Bod...
29/06/2026
RT today announced that Ger Gilroy will join the RT Podcasts team to present a daily sports podcast. Launching later this year, the new show will set the spor...
29/06/2026
RT Commercial announced OUTsurance as sponsor of the Oliver Callan show on RT Radio 1 from Wednesday 1 July.
Oliver Callan doubles the fun, delivering two ...
29/06/2026
Showcasing the importance of open source innovation in American AI, Palantir'...