Norwegian telecom company Telenor ASA (TELNY.PK,TELN) reported Tuesday that its fourth-quarter net income attributable to equity holders surged to 7.69 billion Norwegian kroner from last year’s 1.77 billion kroner.
The latest quarter results included a gain of 2.1 billion kroner from the sale of Tapad and a gain of 1.2 billion kroner from the sale and partial leaseback of the headquarter office building in Norway.
EBITDA before other income and other expenses was 13.51 billion kroner, higher than 13.40 billion kroner a year ago. Organic EBITDA edged down 0.2 percent.
Adjusted EBITDA margin was 43.7 percent, up from 42.2 percent last year.
Revenues, meanwhile, dropped to 30.95 billion kroner from 31.74 billion kroner a year ago. Organic revenue declined 3.9 percent, and organic subscription and traffic revenue dropped 3.4 percent.
The company’s mobile subscriber base grew by 1.5 million and was 182 million at the end of the quarter.
Based on 2020 performance, the Board of Directors proposed a dividend of 9 kroner per share in line with dividend policy.
Looking ahead, Sigve Brekke, President and CEO, said, “Entering 2021, we will maintain focus on our strategic priorities; growth, modernisation and responsible business. In the coming months, all our markets and especially our Asian subsidiaries will still be impacted by the spread of COVID-19 and government responsive measures. For the full year 2021, we expect organic subscription and traffic revenues and Ebitda to remain around 2020 level. We foresee a capex to sales ratio of 15-16% percent.”
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