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 ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
02/05/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
05/03/2026
Quality control (QC) has long been a gatekeeper of technical fidelity. Editors and technicians have adhered to a simple, disciplined checklist: bitrate, resolut...
05/03/2026
Leading video software provider Synamedia today announced it has partnered with Swiss sports technology specialist, Asport to deliver global live streaming for ...
05/03/2026
Advanced Systems Group, LLC (ASG), a technology and services provider for media creatives and content owners, announced the promotion of Gretchen Taipale to Vic...
05/03/2026
Clear-Com has provided Gen-IC virtual intercom, its cloud-based voice communications system for SaxaVord Spaceport, the first fully licensed vertical launch s...
05/03/2026
The Hollywood Professional Association (HPA) concluded the 2026 HPA Tech Retreat, convening more than 800 industry leaders, technologists, creatives and executi...
05/03/2026
LynTec, a leading manufacturer of electrical power control solutions for professional audio, video, and lighting systems, today announced that its new Dual DMX ...
05/03/2026
Snicket Labs is pleased to announce a new distribution partnership with ES Broadcast for its award winning solutions, Match and Enrich.
Under the agreement, ES...
05/03/2026
LiveU today announced the first large-scale deployment of its AI-driven LiveU IQ (LIQ ) technology at a global, multi-venue sporting event, setting a new benchm...
05/03/2026
Comscore and Yahoo DSP Partner to Advance CTV Political Advertising with Proximi...
05/03/2026
March is in full bloom, and that means a fresh wave of games heading to the cloud. 15 new titles are joining the GeForce NOW library this month.
Leading the Ma...
04/03/2026
Lega Basket Serie A (LBA), the governing body for Italy's premier basketball...
04/03/2026
Wrexham AFC co-chairmen Rob Mac and Ryan Reynolds will host a first-of-its-kind ...
04/03/2026
The countdown is underway and with just 100 days to go until the world's greatest sporting event begins on Thurs., June 11, FOX Sports, America's Englis...
04/03/2026
No matter where they are in the world, service members and veterans can stream N...
04/03/2026
Telemundo officially releases Somos M s, the anthem for the network's cove...
04/03/2026
The Hollywood Professional Association (HPA) concluded the 2026 HPA Tech Retreat, convening more than 800 industry leaders, technologists, creatives, and execut...
04/03/2026
Smith Entertainment Group transformed how local sports are consumed by creating ...
04/03/2026
The production method, which spans a distance of 36.2 miles, was designed and im...
04/03/2026
Haivision, a global provider of mission-critical, real-time video networking and...
04/03/2026
When Hugues Meyrath came out of retirement to take the helm as CEO of Quantum, i...
04/03/2026
Last week's launch of Banana Ball Championship League has spurred a significant upgrade of production facilities
The Savannah Bananas, arguably the hottest...
04/03/2026
sldkfjsdlfkjsldkfjsldkjfslkdjfslkdjfsl
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus...
04/03/2026
For many fans, a song's backstory can be just as compelling as the final pro...
04/03/2026
In 2006, Spotify was founded on the belief that technology could bring artists a...
04/03/2026
Spotify is back on the ground for the Houston Livestock Show and Rodeo, and we&#...
04/03/2026
Spotify had an energizing week in Sydney, Australia, filled with powerful conver...
04/03/2026
Earlier this year, we launched Directed By, a documentary-style series that pull...
04/03/2026
100 Days to Go: SBS Unveils World Class Team for The Greatest Show on Earth -The...
04/03/2026
KT and Rohde & Schwarz to showcase AI-enhanced radio transmission performance In a joint 6G AI proof-of-concept demonstration, the CMX500 one-box tester from ...
04/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/03/2026
Luxembourg, 3 March 2026 - SES S.A. has today published its 2025 Annual Report, following the announcement of the company's full year financial results for ...
04/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
04/03/2026
Luxembourg, March 3, 2026 - SES, a leading space solutions company, along with I...
04/03/2026
04 Mar 2026
VEON Partners with GSMA Innovation Fund to Accelerate Digital Innov...
04/03/2026
04 Mar 2026
VEON's Beeline Uzbekistan and Rakuten Symphony Partner for Open...
04/03/2026
Wednesday 4 March 2026
Sky Sports unveils plans for 2026 Formula 1 coverage
Sky Sports is preparing for one of the most highly anticipated F1 seasons in recen...
04/03/2026
Back to All News
Bloodhounds' Season 2 Gears Up for April 3 Premiere with ...
04/03/2026
Back to All News
Netflix Ads Suite Expands Capabilities
Business
04 March 2026
GlobalUnited States
Link copied to clipboard
After launching the Netflix Ad...
04/03/2026
Scripps Research welcomes healthcare innovator Joe Kiani to the Board of Directors Kiani brings decades of experience in patient safety and public service.
Mar...
04/03/2026
Nanoparticle vaccine approach takes on a new target: Hepatitis C virus Scripps Research scientists reengineer critical proteins on the surface of HCV, paving th...
03/03/2026
Beyond Sports, a Sony group company, and LIV Golf, the world's golf league, ...
03/03/2026
Ilitch Sports + Entertainment announces the launch of Detroit SportsNet (DSN), a year-round broadcast home for two of Detroit's franchises. With flexible op...
03/03/2026
Advanced Systems Group, LLC (ASG), a technology and services provider for media ...
Reading Time: 3 minutes
