
Reading Time: 3 minutes
The Nordic operations delivered a robust quarter with EBITDA growth in Finland and Denmark. Despite the pandemic impacting our Asian operations over the last twelve months, we have been able to adapt and deliver strong customer intake across our operations.
The recently announced merger discussions in Malaysia represents an important next step in Telenor Group's strategy to strengthen its position and create value in Asia. The new entity will have size and capabilities to meet increasing expectations and demand from a digitally connected society.
In Myanmar, we see an irregular, uncertain, and deeply concerning situation. Since the military coup on 1 February 2021, Telenor's focus has been on the safety and security of our employees, access to services for customers and continued transparency. Prolonged mobile internet restrictions have severely impacted the people of Myanmar and the country's economy, illustrating the importance of connectivity services. Telenor calls on the authorities to immediately reinstate unimpeded communications and respect the right to freedom of expression and human rights.
Due to the worsening of economic and business environment outlook and a deteriorating security and human rights situation, we see limited prospects of improvement going forward. Based on this, we have fully impaired Telenor Myanmar with an amount of NOK 6.5 billion in the quarter.
With limited visibility on the development in the country, we have excluded Myanmar from our outlook. For the full year 2021, excluding Myanmar, we re-iterate the expectation of organic subscription and traffic revenues and EBITDA to remain around the 2020 level and a capex to sales ratio of 15-16%.
Sigve Brekke, President and CEO, Telenor Group
KEY FIGURES TELENOR GROUP First quarter Year
NOK in million 2021 2020 2020
Revenues 28,873 30,953 122,811
Organic revenue growth (%) -1.6 1.5 -2.3
Subscription and traffic revenues 21,715 23,867 93,439
Organic subscription and traffic revenue growth (%) -4.0 1.8 -1.9
EBITDA before other income and other expenses 13,015 14,106 56,520
Organic EBITDA growth (%) -2.2 2.6 1.7
EBITDA before other income and other expenses/Revenues (%) 45.1 45.6 46.0
Net income attributable to equity holders of Telenor ASA -3,889 698 17,341
Capex excl. licences and spectrum 3,745 3,079 16,351
Total Capex 4,284 3,385 21,692
Free cash flow before M&A 2,992 2,664 12,542
Total Free cash flow 3,834 3,775 20,855
Mobile subscriptions Change in quarter/Total (mill.) 5.0 -0.4 181.8
First quarter 2021 summary[1]
The Group's mobile subscriber base grew by 5 million, including 2 million added in Myanmar. The subscriber base was 187 million at the end of the quarter.
Subscription and traffic revenues decreased by 4% on an organic basis. Total reported revenues were NOK 28.9 billion, a decrease of NOK 2.1 billion.
Currency adjusted opex decreased by NOK 0.7 billion, or 7%. Reported opex decreased by NOK 1.1 billion.
Organic EBITDA decreased by 2%, as the decline in subscription and traffic revenues was only partly offset by the reduction in operating expenses. Reported EBITDA before other items was NOK 13.0 billion and the EBITDA margin was 45%.
Capex excluding licences and spectrum was NOK 3.7 billion, yielding a capex to sales ratio of 13%.
Reported net income was negative NOK 3.9 billion. Decrease in operating profit due to the impairment of Telenor Myanmar of NOK 6.5 billion and higher taxes were only partly offset by positive development in net financial items.
Total free cash flow was NOK 3.8 billion.
Leverage decreased to 1.8x at the end of the first quarter from 2.0x at the end of the previous quarter.
On 1 February 2021, the military of Myanmar declared a state of emergency and the overall situation is unstable. Due to the worsening of economic and business environment outlook and a deteriorating security and human rights situation, we see limited prospects of improvement going forward. As a consequence, an impairment loss of NOK 6.5 billion was recognised related to Telenor Myanmar.
[1] Please refer to Definitions on page 25 for descriptions of alternative performance measures.
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 ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
26/08/2026
Applicants interested in the Media Innovation Europe 3.0 Validation Booster call can now consult a new FAQ document addressing practical questions raised during...
26/08/2026
Roku Sports Channel will stream eight matches free beginning Aug. 30 as league shifts Sunday-night games away from Victory+...
26/08/2026
Evertz and Mobile TV Group detail how on-premises infrastructure and cloud resou...
26/08/2026
The Sennheiser Group will demonstrate its broadcast audio portfolio at IBC2026 (Hall 8, Booth D50), covering wireless microphone workflows, studio monitoring, a...
26/08/2026
Appear and Transmisiones Televisivas TVTEL Limitada have announced the deploymen...
26/08/2026
Leader Electronics has announced that Danish broadcast rental company Minitech has purchased a Leader LPX500 hybrid IP/SDI waveform monitor and LT4670 sync puls...
26/08/2026
Encompass will demonstrate its Altitude media services at IBC2026 (IAMT Hub, Diamond Lounge, Hall 3, RAI Amsterdam, September 11-14).
Key products on show incl...
26/08/2026
Daktronics has partnered with Massillon Washington High School in Ohio to install a new LED video display and implement the Daktronics Camino show control platf...
26/08/2026
Clear-Com has appointed Dubai-based Venuetech LLC as its main partner for the Middle East. Venuetech distributes professional audiovisual solutions across the r...
26/08/2026
NBC Sports NOW, NBC Sports' free 24/7 streaming channel, will launch a new weekday lineup beginning Monday, August 31, including two new shows.
Not So Fast...
26/08/2026
Calrec will demonstrate updates to its ImPulseV DSP software and Argo ecosystem at IBC2026 (Stand 8.C47), including previews aligned with the EBU's Dynamic ...
26/08/2026
Imagine Communications will demonstrate AI applications across its ad tech and video infrastructure portfolios at IBC2026 (Stand 1.B73, RAI Amsterdam, September...
26/08/2026
Dalet will demonstrate updates to Dalet Flex, Dalet Pyramid, and Dalia, its agentic AI platform, at IBC2026 (Hall 7, Stand 7.A43). The company will also partici...
26/08/2026
Team-owned platform will stream every locally carried Predators game beginning t...
26/08/2026
The 12-day tournament receives the broadcaster's full onsite-studio presence...
26/08/2026
A synth with no controls?
If you're into weird and wonderful instruments, then you may already be familiar with Warsaw-based SOMA Laboratory - if you...
26/08/2026
Physical modelling orchestral instrument announced
Following their recent cryptic hints, Dreamtonics have officially revealed the latest addition to their s...
26/08/2026
Discussions at the Meitingen site on competitiveness, energy supply, and fuel cell technology
Bertram Brossardt, CEO of the Bavarian metal and electrical emplo...
26/08/2026
Rohde & Schwarz USA celebrates grand opening of new manufacturing center in Fred...
26/08/2026
For large media companies, the content archive is a gold mine. There are thousands of hours of existing, high-value assets just waiting to be tapped for highlig...
26/08/2026
Ad Supported Viewing Represents 71.5% of TV in Q2
Streaming Captures Over 48% o...
26/08/2026
Charity sector ad spend reached $278 million as 44% of Australians donated to ch...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
MediaKind today announced that CNBC UK has selected Beam to modernize its contribution and distribution infrastructure, bringing greater flexibility, resilience...
26/08/2026
Telestream, a global leader in media workflow technologies, today announced the next evolution of Telestream UP, expanding the cloud-native platform introduced ...
26/08/2026
SMPTE, the home for media professionals, technologists and engineers, today announced its 2026 Honorees, recognizing individuals and organizations whose contrib...
26/08/2026
New solution bridges connected TV (CTV) and ecommerce to make shoppable performance advertising easier to scale for streaming platforms and broadcasters
Broadp...
26/08/2026
LA JOLLA, CA-Recent advances in robotics, automation and artificial intelligence...
26/08/2026
How WeFX Made From's' Monsters Feel Uncomfortably Real
Brie Clayton August 26, 2026
0 Comments
From eight-foot dolls and feathered birds to R...
26/08/2026
Eleanor Roosevelt High School Elevates Student Rallies with Blackmagic Design
Brie Clayton August 26, 2026
0 Comments
Student led production team uses...
26/08/2026
K-Frame and Maverik X innovations extend familiar production control into AMPP, alongside new replay, audio, commentary and communications capabilities.
At IBC...
26/08/2026
New products continue to enable any signal, anywhere for creators...
26/08/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced a new integrated newsroom experience with Agence France-Presse (A...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
26/08/2026
PTZ Camera Manufacturer and FPGA Design Specialist Join Alliance to Advance IPMX and Open AV-over-IP Standards
The Alliance for IP Media Solutions (AIMS) today...
26/08/2026
BATON offers ZOO Digital advanced audio and video quality analysis, and scalable architecture
Interra Systems, a leading provider of end-to-end quality assuran...
26/08/2026
Riedel Communications today announced the continued expansion of its managed coach communications partnership with Scottish Rugby Union. Now entering its third ...
26/08/2026
Zixi brings Broadcaster V19 and showcases interoperable platform on Stand 5.A76
Zixi, a leader in live video delivery and workflow orchestration, will be exhib...
26/08/2026
LA JOLLA, CA-Jeffery Kelly, the H. Lutcher Brown Professor of Chemistry at Scrip...
26/08/2026
Indie Developer Launches Orty, aWindows App That Helps Freelance VideoEditors Fi...