* Sees 2021 earnings, income flat from 2020
* This fall adjusted EBITDA NOK 13.5 bln vs forecast NOK 13.8 bln
* Eyes Asia market restoration in H2
* Dividend to rise as anticipated to NOK 9 per share
* Shares rise 1.8% in early commerce (Provides share worth, element)
OSLO, Feb 2 (Reuters) – Norway’s Telenor expects its giant Asian operations to steadily recuperate from the COVID-19 pandemic within the second half of 2021, and anticipates largely unchanged revenues and revenue this 12 months in comparison with 2020, it stated on Tuesday.
Adjusted earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) for October-December rose 0.9% year-on-year to 13.5 billion Norwegian crowns ($1.6 billion). Analysts in a ballot had, on common, anticipated 13.8 billion crowns.
“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,” Chief Govt Sigve Brekke stated.
“Lockdowns and border closures will proceed into 2021 and Telenor expects a gradual restoration within the Asian markets in the course of the second half of the 12 months,” the corporate added.
Telenor, which serves 182 million clients in 9 nations throughout Europe and Asia, pays a dividend of 9 Norwegian crowns for 2020, in keeping with the median forecast of analysts and up from the 8.70 crowns payout for 2019.
Within the Nordic area, the financial influence from the pandemic primarily got here from a decline in tourism and enterprise journey, depriving Telenor of the “roaming” income earned when clients of different operators use its community.
The Oslo-listed firm’s shares rose 1.8% in early commerce, outperforming a 1.2% rise within the Oslo inventory market, however are nonetheless down 13% within the final 12 months.
The corporate lower working prices by 7% year-on-year within the ultimate quarter of 2020, excluding its acquisition of Finnish telecom agency DNA and adjusting for foreign money results, whereas its underlying subscriber and site visitors income dropped 3%.
Fourth-quarter revenues fell to 30.9 billion crowns from 31.7 billion a 12 months in the past, towards analyst expectations of 31.5 billion.
$1 = 8.5565 Norwegian crowns Reporting by Victoria Klesty; Enhancing by Terje Solsvik and Pravin Char