- Telenor ASA (OTC:TELNY) reported a second-quarter FY21 revenue decline of 6.3% year-on-year to about NOK 27.2 billion.
- Organic revenue grew 3.3% Y/Y.
- Subscription and traffic revenues increased by 2% Y/Y on an organic basis.
- The growth reflects strong performance in the Nordics combined with a growing subscriber base and increased data consumption in the Asian markets.
- The company’s mobile subscriber base rose by 1.7 million.
- Organic EBITDA grew 3.6% Y/Y.
- EBITDA margin remained flat at 45.5%.
- The net income was about NOK 2.2 billion.
- The company generated NOK 9.8 billion in net cash flow from operating activities.
- It held NOK 19.7 billion in cash and equivalents.
- Outlook: It currently sees organic subscription and traffic revenues growth of 0-1%, organic EBITDA growth of 0-2% in FY21.
- In June, Telenor paid the first tranche of the dividend for 2020 of NOK 6.7 billion or NOK 5.0 per share.
- On July 8, the Group announced an agreement to sell its operations in Myanmar.
- Price action: TELNY shares are trading up by 2.91% at $17.05 on the last check Tuesday.
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