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(Fornebu, 2 February 2021) «The yr 2020 was marked by the worldwide pandemic. On this unprecedented state of affairs, Telenor accelerated the digitalization, managed to safeguard staff and maintained essential connectivity to prospects. For the total yr, Telenor delivered an natural EBITDA progress of two p.c and a stable free money circulate of NOK 21 billion.
Within the fourth quarter, we proceed to ship a robust efficiency within the Nordics. In Norway progress in cellular and new fastened companies greater than offset a shortfall of roaming and copper legacy revenues. In Finland income and EBITDA are rising on account of our prospects’ demand for greater information speeds, together with our new 5G choices. In Asia, strain on the highest line stays because of intense competitors and influence from the pandemic, particularly in Thailand and Malaysia. For the Group, subscription and visitors revenues decreased by 3 p.c, nonetheless our flexibility to handle value and investments ranges resulted in steady EBITDA and improved money circulate.
Coming into 2021, we are going to keep deal with our strategic priorities; progress, modernisation and accountable enterprise. Within the coming months, all our markets and particularly our Asian subsidiaries will nonetheless be impacted by the unfold of COVID-19 and authorities responsive measures. For the total yr 2021, we count on natural subscription and visitors revenues and Ebitda to stay round 2020 stage. We foresee a capex to gross sales ratio of 15-16% p.c. Primarily based on 2020 efficiency, the Board of Administrators suggest a dividend of NOK 9.00 per share consistent with our dividend coverage.»
Sigve Brekke, President and CEO, Telenor Group
|KEY FIGURES TELENOR GROUP||Fourth quarter||12 months|
|NOK in million||2020||2019||2020||2019|
|Natural income progress (%)||-3.9||2.8||-2.3||1.2|
|Subscription and visitors revenues||22,916||23,363||93,439||85,954|
|Natural subscription and visitors income progress (%)||-3.4||1.8||-1.9||0.4|
|EBITDA earlier than different earnings and different bills||13,512||13,397||56,520||50,735|
|Natural EBITDA progress (%)||-0.2||4.6||1.7||-2.7|
|EBITDA earlier than different earnings and different bills/Revenues (%)||43.7||42.2||46.0||44.6|
|Internet earnings attributable to fairness holders of Telenor ASA||7,689||1,774||17,341||7,773|
|Capex excl. licences and spectrum||5,787||5,574||16,351||17,415|
|Free money circulate earlier than M&A||1,988||547||12,542||3,831|
|Complete Free money circulate||9,130||-8,742||20,855||-18,998|
|Cellular subscriptions – Change in quarter/Complete (mill.)||1.5||2.6||181.8||186.0|
Fourth quarter 2020 abstract1
- The Group’s cellular subscriber base grew by 1.5 million and was 182 million on the finish of the quarter.
- Subscription and visitors revenues decreased by 3% on an natural foundation. Complete reported revenues had been NOK 30.9 billion, a lower of NOK 0.8 billion or 2%. For the total yr 2020, natural subscription and visitors revenues decreased by 2%.
- Forex adjusted opex excluding DNA decreased by NOK 0.7 billion, or 7%. Reported opex decreased by NOK 0.5 billion. For the total yr, forex adjusted working bills excluding DNA had been decreased by NOK 2.6 billion, or 7%.
- EBITDA remained steady on an natural foundation, because the decline in subscription and visitors revenues was offset by the continued discount in working bills. Reported EBITDA earlier than different gadgets was NOK 13.5 billion and the EBITDA margin was 44%. For the total yr, natural EBITDA elevated by 2% and the EBITDA margin was 46%.
- Capex excluding licences, spectrum and leases was NOK 5.8 billion, yielding a capex to gross sales ratio of 19%. For the total yr, the capex to gross sales ratio ended at 13%.
- Reported internet earnings was NOK 7.7 billion. The sale of Tapad contributed with a achieve of NOK 2.1 billion and the sale and partial leaseback of the headquarter workplace constructing in Norway contributed with NOK 1.2 billion.
- Free money circulate earlier than M&A was NOK 2.0 billion within the fourth quarter and NOK 12.5 billion for the total yr. Complete free money circulate in 2020 was NOK 20.9 billion.
- Leverage decreased to simply under 2.0x on the finish of the fourth quarter from 2.1x on the finish of the earlier quarter.
- On 1 February 2021, the army of Myanmar declared a state of emergency. Telenor is worried concerning the state of affairs and can intently monitor the event.
1 Please seek advice from Definitions on web page 25 for descriptions of different efficiency measures. A few of the feedback on the Group’s monetary outcomes for the fourth quarter 2020 are made excluding DNA. Please seek advice from web page 9 for the Group’s consolidated figures in NOK for DNA.
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