
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 ...
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...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
SMPTE , the home of media professionals, technologists, and engineers, today unveiled its educational presentations for the 2026 NAB Show. This year SMPTE will ...
18/03/2026
Maxon, maker of powerful, approachable software solutions for creators working in 2D and 3D design, motion graphics, visual effects, gaming, and more, today ann...
18/03/2026
Digital Alert Systems
Preview
2026 NAB Show
April 19 - 22
Booth C3452
At the 2026 NAB Show, Digital Alert Systems will showcase Version 6.0 of its DASDEC ...
18/03/2026
Setplex today announced that it will showcase its complete, fully integrated Zapflex platform for the first time at the 2026 NAB Show, introducing powerful new ...
18/03/2026
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE ...
18/03/2026
COW Jobs: Seeking DP for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Director of Photography for Low Budget Dramedy Fe...
18/03/2026
COW Jobs: Seeking Gaffer for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Gaffer for Low Budget Dramedy Feature Film- I...
18/03/2026
COW Jobs: Seeking Location, Sound for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Location/Sound for Low Budget Dramed...
18/03/2026
COW Jobs: Seeking Child Wrangler for Low Budget Film - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Child Wrangler for Low Budget Dramedy Fe...
18/03/2026
Calrec Redefines Broadcast Workflows at NAB 2026 with its Most Powerful Hardware...
18/03/2026
Oscar Nominated Two People Exchanging Saliva Posted with DaVinci Resolve Studio
Brie Clayton March 17, 2026
0 Comments
DaVinci Resolve Studio handle...
18/03/2026
Boston Conservatory Presents Celebrated Musical Satire Urinetown Performances for this Center Stage production will take place at Boston Conservatory Theater ...
18/03/2026
Charlie Puth Joins Switched On Pop at Berklee NYC The Berklee alum spoke with host and Berklee NYC professor Charlie Harding for a live taping, answering audi...
17/03/2026
NASA+'s Rebecca Sirmons and Brittany Brown offer unique look at live streami...
17/03/2026
The transition to IP has fundamentally reshaped professional media infrastructures. Video, audio, and increasingly metadata now circulate as independent, precis...
17/03/2026
Live sports streaming can push every element in your video delivery chain to its limit, exposing every potential weakness in seconds. When the Super Bowl, the O...
17/03/2026
Texas Athletics sought to modernize its media production, enhance fan experience...
17/03/2026
Ikegami USA will demonstrate the latest additions to its wide range of broadcast...
17/03/2026
TNA Wrestling and iHeartMedia announces a new multi-platform collaboration that will integrate iHeartMedia across TNA's premium live events, weekly televisi...
17/03/2026
The goal was to transform Hard Rock Stadium into a global leader in sports and e...
17/03/2026
Spectrum has announced the launch of its new Multiview feature in the Spectrum TV App, giving customers the ability to watch up to four NCAA men's or women&...
17/03/2026
Genius Sports deal also covers data technology, AI, fan engagement, and performance analysis....
17/03/2026
Net Insight is supporting the rollout of a new state-wide centralized operation with Rede Massa, which is an SBT affiliate, the Brazilian regional television ne...
17/03/2026
Featuring audio from practice sessions, qualifying races, and Grand Prix races, the film represents Apple's sports-media ambitions
At Sunday night's Ac...
17/03/2026
Live broadcast has always been one of the most demanding environments in media a...
17/03/2026
DirecTV is introducing several new viewing features, including a multi-screen March Madness Mix channel and an updated Sports Central mobile app hub, ahead of...
17/03/2026
Deltatre has announced a multi-year partnership with ATP Media, the media arm of the ATP Tour, covering broadcast graphics, data, and production across the 2026...
17/03/2026
The Detroit Pistons have announced a third consecutive season partnering with Sc...
17/03/2026
Fresh Finds Africa spotlights emerging artists and movements across the continent and its global diaspora, with listeners tuning in to discover new Afro-forward...
17/03/2026
Last month, more than 60,000 fans piled into Bangkok's Rajamangala National ...
17/03/2026
Vintage-inspired channel strip joins line-up
Black Rooster Audio's latest plug-in provides an all-in-one mixing tool inspired by classic analogue consol...
17/03/2026
Level and EQ voice, reverb and noise independently
The latest plug-in to join Accentize's collection is said to take a new approach to dialogue processi...
17/03/2026
UHF radio mic & IEM bandwidth at risk
Once again, the UHF bandwidth that is currently allocated to RF audio gear is at risk of being reassigned to high-spee...
17/03/2026
Last Friday, the first Plant Fire Department Training Week in Bavaria successf...
17/03/2026
New campaign from NAATI and SBS CulturalConnnect highlights how we all deserve ...
17/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
17/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
17/03/2026
3D streaming infrastructure provider Miris today announced the launch of a public beta for its new 3D asset streaming platform. Miris is building the infrastruc...