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 ...
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...
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...
29/05/2026
With InfoComm 2026 just weeks away, NDI is giving attendees plenty of reasons to...
29/05/2026
Reaffirming a partnership that has defined Canadian sports broadcasting since 19...
29/05/2026
Mobile/tablet is No. 2 device for watching TV, suggesting that the sports-production industry needs to take another look at the format
Ring Digital's Sprin...
29/05/2026
Berliner Ensemble, one of Berlin's five major theater companies, has expande...
29/05/2026
Solid State Logic will showcase its new compact, fly-away TCA Tour audio product...
29/05/2026
Gerald (Jerry) Pierce, a pioneering technologist who helped shape the digital transformation of the motion picture industry, passed away last month on April 12 ...
29/05/2026
Paramount+ will be the English-language U.S. home for Barclays Women's Super...
29/05/2026
Further strengthening its virtualisation strategy to fully support broadcasters ...
29/05/2026
Swiss broadcaster Canal Alpha has deployed Harmonic's award-winning, software-based XOS Advanced Media Processor to modernize playout operations across cant...
29/05/2026
PTZOptics will showcase a new generation of intelligent video workflows at InfoComm 2026, June 17-19, Las Vegas. Visitors to booth N8227 will see how PTZOptics ...
29/05/2026
Arizona's Family has launched the Arizona's Family Sports (AZFS) streaming app, a new direct-to-consumer destination for live, local sports. The app is ...
29/05/2026
Starting in 2027, DAZN will be the exclusive home of The Canadian Football Leagu...
29/05/2026
Comcast Business has detailed the advanced network infrastructure it has deploye...
29/05/2026
In two-day event, leaders from academia and industry explored solutions to chall...
29/05/2026
The Basketball Tournament (TBT), now entering their 13th year of competition, ha...
29/05/2026
Roku has launched FOX One as a Premium Subscription on The Roku Channel in the U.S. Roku customers can now subscribe to FOX One using their Roku account for liv...
29/05/2026
In its sixth year, the broadcaster's coverage has become a global brand and ...
29/05/2026
Ratings Roundup is a rundown of recent ratings news and is derived from press re...
29/05/2026
The days are getting longer, the temperatures are rising, and playlists are filling up for the season. With summer around the corner, Spotify's global edito...
29/05/2026
New retro-inspired MPC announced
There are few devices that have gained the status held by Akai Pro's MPC range, and in recent years, the company have s...
29/05/2026
Save up to 30 on acclaimed titles
Following a successful launch at Superbooth 2026, Bjooks have revealed that they will be continuing the Kickstarter campa...
29/05/2026
Binaural monitoring application improved
Genelec have just released an update that brings some powerful new features to their HRTF-based binaural headphone ...
29/05/2026
6 June 2026 at SAE Institute, London, UK
IMSTA FESTA 2026 is almost upon us, with some of the biggest names in pro-audio set to descend upon SAE Institute i...
29/05/2026
Gerald (Jerry) Pierce, a pioneering technologist who helped shape the digital transformation of the motion picture industry, died April 12, 2026, at his home in...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Comparing 5 AI Video Enhancers for Restoring Old Video Quality
Kate Luvis May 29, 2026
0 Comments
Digitizing VHS, MiniDV, and other legacy formats doe...
29/05/2026
Studio Hamburg Builds New Post Pipeline with DaVinci Resolve Studio
Brie Clayton May 29, 2026
0 Comments
Workflow replaces a patchwork of legacy tools...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
29/05/2026
At the Intersection of Music and Dance, an Epic Collaboration Boston Conservatory musicians and dancers found creative parallels in their recent performance o...
29/05/2026
Something fundamental has shifted in how people consume media. Audiences aren't abandoning television or radio content; they're just expanding how, wher...
29/05/2026
Youtube exclusive special drops today
Watch now
UKTV today announces another e...
29/05/2026
Back to All News
The Official Trailer of Physical 100 Italy, on Netflix From Se...
29/05/2026
At just 20 years old, Sean Melia from Summerhill Co. Meath has been revealed as the winner of Super Garden 2026. Sean is the youngest ever contestant and winner...
29/05/2026
Experimental HIV vaccine achieves a long-sought goal In a first for the field, all non-human primates given a new series of vaccines generated antibodies capabl...
28/05/2026
Thomsons Climate Crisis Toolkit is already being put to work, helping journalist...
28/05/2026
FOX Sports' MLB coverage dominated the night at the 47th Annual Sports Emmy ...
28/05/2026
One of the most memorable postseasons in baseball history would have had no memo...
28/05/2026
NBC's Sunday Night Football is among the most-decorated and most-watched pro...
28/05/2026
The 2026 Sports Emmys marked a watershed moment for Prime Video Sports. After bu...
Reading Time: 3 minutes
