FORNEBU, Norway, July 24, 2007 (PRIME NEWSWIRE) -- In the second quarter of 2007, Telenor's pro forma revenues increased by 19 per cent compared to the second quarter of 2006, reaching NOK 26.2 billion. The underlying pro forma revenue growth was 13 per cent. Pro forma EBITDA was NOK 9.1 billion. The pro forma figures include estimates for Kyivstar.
On reported basis (excluding Kyivstar estimates), Telenor's revenues increased by 5 per cent compared to the second quarter of 2006, reaching NOK 23.2 billion. The reported underlying revenue growth was 12 per cent. Reported EBITDA was NOK 7.3 billion while reported profit before taxes was NOK 3.8 billion.
"We are delivering another good quarter. The trends from the first quarter have continued, with high underlying revenue growth and stable EBITDA margin," said President and CEO of Telenor, Jon Fredrik Baksaas.
Mobile operations
Telenor's consolidated mobile operations added more than five million subscriptions during the second quarter. The legal situation concerning Kyivstar has not changed from the first quarter, thus still prohibiting Telenor from receiving financial information. Kyivstar has strengthened its market position and is estimated to have further improved its financial performance.
"In Asia, the impressive development in DiGi and Telenor Pakistan continues. In Thailand, however, a new regulatory framework is changing the market dynamics. This has affected calling patterns and reduced average prices. In Scandinavia, our mobile operations have secured their market positions by adding more than 100,000 customers," said Jon Fredrik Baksaas.
Fixed
In Fixed Norway, EBITDA increased by 1.5 per cent to NOK 1,438 million, while revenues decreased by 4.6 per cent to NOK 3,801 million, compared to the second quarter of 2006. "Fixed Norway delivers an impressive underlying margin of 37 per cent, driven by good operational efficiency during the quarter," said Jon Fredrik Baksaas.
Broadcast
In the second quarter of 2007, revenues in Broadcast increased by 13.6 per cent compared to the second quarter of 2006, reaching NOK 1,776 million. EBITDA was NOK 462 million, a 5.7 per cent increase from the second quarter of 2006.
Key figures
The table below contains key figures from the second quarter of 2007, compared to the previous year:
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Q2 2007 Q2 2006
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(NOK in millions except Group Pro forma Group Group
earnings per share) incl. Kyivstar
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Revenues 23,155 26,155 22,003
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EBITDA before other income
and expenses 7,344 9,114 7,842
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EBITDA margin before other
income and expenses (%) 31.7 34.8 35.6
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Adjusted operating profit 3,942 5,229 4,364
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Adjusted operating
profit/Revenues (%) 17.0 20.0 19.8
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Profit after taxes and
minority interests (Net
income) 3,253 3,767 2,284
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Earnings per share, in NOK 1.94 2.24 1.35
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Capex 4,707 5,607 4,422
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Investments in businesses 4,782 4,782 828
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Net interest-bearing
liabilities 46,406 -- 38,210
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For more information please refer to the quarterly report on www.telenor.com/ir/reports/07q2.
To the editorial offices:
Press and analyst conference
In connection with the publication of the financial results, a press and analyst conference will be held on Tuesday 24 July at 09:00 hrs Norwegian time/CET. The presentation will be held in Auditorium A, Telenor Expo Visitors' Centre, at the Telenor Headquarters at Fornebu outside Oslo. CFO Trond Westlie will present the results, and the presentation will be given in English.
Internet and mobile broadcast
The press and analyst conference will be broadcast live over the Internet, and a recorded version will be made available on www.telenor.com/ir/reports/07q2. During the live transmission, written questions may be submitted via the Internet. The conference will also be available live, and in a recorded version, on mobile phones with 3G, GPRS or EDGE. For more details please refer to www.telenor.com/ir/reports/07q2.
Conference call and Q&A
The press and analyst conference will also be available as a conference call. This service also allows participants to ask questions at a concluding Q&A session, which will be held immediately after the presentation and a brief Q&A session in the auditorium. Please register well in advance on (+47) 800 80 119 (from Norway) or (+47) 23 00 04 00 (from Norway or abroad).
Materials
English language versions of the full quarterly report and all presentations used during the press and analyst conference will be made available on www.telenor.com/ir/reports/07q2 at 07:00 and 09:00 hrs Norwegian time/CET, respectively.