Sony Pixel Power calrec Sony

Steady performance in the first quarter

04/05/2021

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
LINK: https://www.telenor.com/media/press-release/steady-performance-in-the-...
See more stories from telenor

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

06/09/2026

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

12/06/2026

Study: 2026 Election Cycle to Hit Record $11.6 Billion Ad Spend

Share Copy link Facebook X Linkedin Bluesky Email...

12/06/2026

NAB Elects Leadership at June Board of Directors Meeting

Share Copy link Facebook X Linkedin Bluesky Email...

12/06/2026

FCC Believes World Cup Communication Will Score Highly

Share Copy link Facebook X Linkedin Bluesky Email...

12/06/2026

Broadcasters Back NO FAKES Act

Share Copy link Facebook X Linkedin Bluesky Email...

12/06/2026

Scripps Unveils Coverage Plans For America's 250th Anniversary

Share Copy link Facebook X Linkedin Bluesky Email...

12/06/2026

How Aussie indie games and screen are levelling up with IP

How Aussie indie games and screen are levelling up with IP 11 June 2026 Ari Harrison, Pro Jank Footy Head of Games Joey Egger and Ari Harrison of Umbrella sha...

12/06/2026

June 11, 2026

A fentanyl countermeasure that adapts to combat future black-market drugs Scripps Research scientists developed a vaccine that teaches the immune system to rapi...

11/06/2026

HBSs Johannes Franken on Digital Innovations, the Role of the Influencer at the 2026 FIFA World Cup

The immense size of the tourney and its Atlantic-spanning operation also disting...

11/06/2026

Nielsen: Soccer Fandom in North America Tops 136 Million, Up 10.9% in Five Years

Nielsen has released a new soccer fandom consumer research report, The Fans Behind The Game: FIFA World Cup 2026 Edition, examining the soccer audience in the...

11/06/2026

Telemundo Announces All-Day Opening Day Coverage for FIFA World Cup 2026 on June 11

Telemundo will launch its FIFA World Cup 2026 coverage on Thursday, June 11 with...

11/06/2026

Fubo Announces Distribution Agreement With NBCUniversal

FuboTV Inc. has announced a distribution agreement with NBCUniversal. Fubo customers can now stream Telemundo and Universo, with NBC Sports Network (NBCSN), NBC...

11/06/2026

DAZN Announces In-App Features for FIFA World Cup 2026 Coverage in Spain, Italy, and Japan

DAZN has announced its in-app features for FIFA World Cup 2026 coverage in Spain...

11/06/2026

Roblox Report: Sports Engagement on Platform Drives Real-World Fandom and Purchases

Roblox has released the 2026 Roblox Digital Expression Report: Wave 4 - Sports D...

11/06/2026

Andrea Bocelli, David Guetta, Megan Thee Stallion, and EJAE Release Official FIFA World Cup 2026 Anthem DNA'

FIFA has unveiled DNA, the Official FIFA World Cup 2026 Anthem, performed by A...

11/06/2026

ESPN Announces Extensive English- and Spanish-Language World Cup 2026 Coverage

ESPN will provide English- and Spanish-language news and information coverage of FIFA World Cup 2026 across its U.S. media platforms from June 11 through July 1...

11/06/2026

SVG Students To Watch: Teddy Batkin, Rochester Institute of Technology

The latest product of the outstanding RIT Sports Network program, this recent grad from Long Island is carving out a promising path in broadcast engineering In...

11/06/2026

DAZN and DSPORTS Announce Distribution Agreement Across Five Latin American Countries

DAZN has announced a multi-year agreement to make DSPORTS channels available to ...

11/06/2026

Resource Actors Throughout the Years at Sundance Institute's Directors Lab

Laura Dern at the 1986 Sundance Institute Directors Lab (Photo by Eric Edwards) By Lucy Spicer It takes a village to bring together the Sundance Institute lab...

11/06/2026

Introducing a New Standard for Podcast Plays and Upgraded Creator Analytics Experience

As podcast formats evolve in the streaming era, podcasting needs updated, transp...

11/06/2026

RADAR Italia Unveils 6 New Artists and a New Approach for 2026

As Spotify's global RADAR program enters its sixth year in Italy, a new class of artists is stepping into the spotlight. Today, we're announcing the six...

11/06/2026

5 Audiobooks that Amplify and Celebrate Queer Voices

Pride Month is a time for celebration, reflection, and amplifying the diverse stories and perspectives from the LGBTQIA+ community that enrich our world. To hel...

11/06/2026

VSL introduce Synchron Solo Violin 1 & Cello (sordino)

First in new line of muted string libraries VSL have just announced the launch of two new string libraries that represent the first two instalments in a new...

11/06/2026

Novation reveal the Launchkey 61 MK4 White

New colour option for 61-key Launchkey MK4 At Superbooth 2025, Novation introduced the Launchkey Mini 37 White and Launchkey 49 White, bringing an additiona...

11/06/2026

Arturia announce the MiniLab 37

Larger, but still compact! Arturia's popular compact MIDI controller keyboard is now available in a, well, slightly less compact version! The new MiniLa...

11/06/2026

Eurosatory 2026: Rohde & Schwarz shapes the new-generation battlefield

Eurosatory 2026: Rohde & Schwarz shapes the new-generation battlefield Rohde & Schwarz unveils next generation SIGINT/EW and CUAS solutions on uncrewed system...

11/06/2026

Rohde & Schwarz unveils NEMACS - Directional, ultra secure connectivity for the future battlefield

Rohde & Schwarz unveils NEMACS - Directional, ultra secure connectivity for the ...

11/06/2026

MTI FILM acquires Mango/New Edit

MTI FILM acquires Mango/New Edit Posted by MTI Film on June 10, 2026 LOS ANGELES, CA - June 2026 - MTI FILM, the multiple Emmy Award winning Hollywood post-p...

11/06/2026

Ungrounded LLM Fabricates Every Detail for Nearly 1 in 5 Movie and TV Titles Tested, New Gracenote Report Finds

Study underscores the need for authoritative content intelligence to build trust...

11/06/2026

PTZOptics, LayerJot Partner on AI-Powered PTZ at InfoComm 2026

Share Copy link Facebook X Linkedin Bluesky Email...

11/06/2026

Chyron Unveils PAINT 10.4

Share Copy link Facebook X Linkedin Bluesky Email...

11/06/2026

Maxon Brings Real-Time Architectural Visualization to AIA26 With New Redshift for Revit and Archicad Integration Beta

Maxon Brings Real-Time Architectural Visualization to AIA26 With New Redshift fo...

11/06/2026

ABC Kid's Caper Crew Shoots Australian Adventure with Blackmagic Design

ABC Kid's Caper Crew Shoots Australian Adventure with Blackmagic Design Brie Clayton June 11, 2026 0 Comments DP Judd Overton and team bring Wes A...

11/06/2026

PTZOptics and LayerJot demo Visual Reasoning at InfoComm...

PTZOptics, and LayerJot today announced live demonstrations at InfoComm 2026 showing how prompt-based AI, robotic camera control, and high-performance computing...

11/06/2026

Lightware launches GPIO Button to deliver simplified hard...

Lightware, an industry leader in signal management, announces the release of GPIO-Button-10S, a dedicated control interface enabling straightforward press-to-a...

11/06/2026

NABs LeGeyt Urges Congress to Limit NFL's Antitrust Exemption

Share Copy link Facebook X Linkedin Bluesky Email...

11/06/2026

Fubo Inks New Distribution Agreement with NBCUniversal

Share Copy link Facebook X Linkedin Bluesky Email...

11/06/2026

Kiloview to Showcase Broadcast-Grade AV-over-IP Solutions...

Kiloview, a leading innovator in AV-over-IP video solutions, will return to InfoComm 2026 (Booth# N8327) with broadcast-grade AV-over-IP solutions designed for ...

11/06/2026

Australian Games Industry Glossary of Terms

Australian Games Industry Glossary of Terms 10 June 2026 From DAU and EULA to COT and QADE, here's a list of game industry terms, industry jargon and their...

11/06/2026

Berklee's Tonya Butler Named Music Business Educator of the Year

Berklee's Tonya Butler Named Music Business Educator of the Year The Music Business Association honored Butler at its annual Bizzy Awards. June 10, 2026 ...

11/06/2026

Ann Mincieli to Receive Honorary Doctorate at Berklee NYC Graduate Commencement

Ann Mincieli to Receive Honorary Doctorate at Berklee NYC Graduate Commencement The five-time Grammy-winning engineer and producer, known for her longstanding...

11/06/2026

Daisy May Cooper rallies the nation ahead of ICC Womens T20 World Cup

Thursday 11 June 2026 Daisy May Cooper rallies the nation ahead of ICC Women's T20 World CupTurn on cookies to view this content. Go to Privacy options and...

11/06/2026

Hadewych Minis and Geert van Rampelberg to Star in New Netflix Series Directed by Paula van der Oest

Back to All News Hadewych Minis and Geert van Rampelberg to Star in New Netflix...

11/06/2026

Official Trailer for Anime Adaptation of Thunder 3' Unveiled Ahead of July 9 Premiere

Back to All News Official Trailer for Anime Adaptation of Thunder 3' Unvei...

11/06/2026

RT Radio 1 and Irish Lights mark RT 100 with special broadcasts from Ireland's Lighthouses

Summer solstice shows from C il House and Late Date from 9pm on Saturday 20 Jun...

11/06/2026

Save Big and Play Bigger: GeForce NOW Summer Sale Brings Major Membership Savings

The GeForce NOW summer sale kicked off today with limited-time savings of up to ...

10/06/2026

SVG Sit-Down: Team Whistle's Joe Caporoso on Building World Cup Content Around Fans, Culture, IRL Experiences

DAZN-owned digital-media company launches three fan-first series leaning into cr...