By Sven Grundberg
Norwegian telecom operator Telenor ASA (TEL.OS) reported
Wednesday a healthy increase in fourth-quarter revenue, largely on
the back of strong growth in its Asian operations.
Fourth-quarter revenue rose 6.2% to 27.61 billion Norwegian
kronor ($4.5 billion) from NOK25.99 billion a year ago, cementing
Telenor's position as one of few major European mobile operators
experiencing growth.
Net profit totaled NOK2.43 billion, against NOK2.51 billion a
year ago, said Telenor, the largest telecom operator in the Nordics
by market capitalization.
Earnings before interest, taxes, depreciation and amortization
rose to NOK8.83 billion from NOK7.93 billion.
Growth in its main Norwegian and Swedish markets was stable and
margins were sustained. The company said it was benefiting from its
exposure to faster-growing developing countries, such as Malaysia,
Pakistan and Bangladesh.
In the fourth quarter, it added 5 million subscribers, mainly
driven by growth in India, Pakistan and Bangladesh.
The company's latest expansion is a planned roll-out of voice
and data services in Myanmar, which opened up its market to foreign
investment amid wide-ranging economic and political reforms.
Excluding Myanmar, Telenor said it expects "low single digit
organic revenue growth" this year, while its operating margin on an
Ebitda-level should remain stable. It said it planned to distribute
NOK7 a share dividend to shareholders for 2013, a 17% increase from
2012.
Write to Sven Grundberg at sven.grundberg@wsj.com; Twitter:
@WSJNordics
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