Q3 2024 Telenor ASA Earnings Call Transcript
Key Points
- Telenor ASA (TELNF) reported a steady financial performance with a 5% growth in the Nordics.
- The company generated a free cash flow of NOK2.8 billion in the third quarter, totaling NOK8.3 billion year-to-date.
- Telenor ASA (TELNF) has tightened its 2024 financial outlook, indicating an EBITDA growth for the Nordics of around 6% for the full year.
- The transformation program is progressing well, with expectations of lower OpEx going into the fourth quarter and further into 2025.
- The company is seeing positive net subscriber additions in all four Nordic country operations, with close to 60,000 net subscribers in the quarter.
- Telenor ASA (TELNF) faced challenges in Bangladesh due to social unrest, leading to a 10% drop in daily revenues below trends in the latter half of Q3.
- The macro headwinds in Bangladesh have impacted the overall group growth, with a negative 3% topline growth in the region.
- Asia service revenues contracted by 1.2% and EBITDA decreased by 3% in the third quarter, primarily due to the situation in Bangladesh.
- The company anticipates a potential delay in the closing of the Pakistan divestment process into early next year.
- There is uncertainty regarding the exact timing of CapEx payments, which could impact cash flow in Q4 or Q1 next year.
Good morning and welcome to Telenor's Third Quarter Results Call, I'm Frank Maao, head of Investor Relations and joining me today, I have Sigve Brekke, our CEO and also acting CFO Kasper Kaarbo. As always in the presentation today, all growth rates are referred to on an organic like for like basis.
We have a short and sweet agenda today along the same lines as usual and using a new format for our Q&A this time, we would appreciate if, unless we turn cameras on when asking a question and with that Sigve, the floor is yours.
Thank you, Frank and good morning, to everyone. Welcome to a sunny day here in Oslo. In the third quarter, we continued to execute on our strategy. We delivered steady financial while also navigating and navigating the challenges we have had in Bangladesh; we continued to grow in the Nordics, and we were delivering a growth of close to 5%.
Our transformation program is
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
