Telenor ASA — Earnings Release 2018

Oct 16, 2018

dtac - results for the third quarter 2018

dtac - results for the third quarter 2018

Telenor Group's subsidiary in Thailand, dtac, has today reported its third quarter 2018 results. Telenor's consolidated figures in NOK million are as follows:

Q3 18 Q3 17

Revenues 4,498 4,487

EBITDA before other items 1,799 1,846

EBITDA margin (before o.i) 40.0% 41.1%

EBITDA 1,792 1,827

Operating profit -132 282

Capex (excl. spectrum) 1,541 840

Subscription and traffic revenues in local currency decreased by 1.7%. During the quarter, the total number of subscriptions decreased by 313,000 thousand to 21.299 million.

According to the new accounting standard IFRS 15, the figures in NOK million for the third quarter 2018 are as follows:

Q318

Revenues 4,481

EBITDA before other items 1,775

Operating profit -155

Outlook 2018

- Service revenues excl interconnect: Low single digit decline (changed from flat)

- EBITDA margin: 36-38% (changed from 34-36%)

- Capex: THB 18-20 billion (changed from THB 15-18 billion)