Telenor ASA — Earnings Release 2018

Apr 23, 2018

dtac - results for the first quarter 2018

dtac - results for the first quarter 2018

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

Q1 18 Q1 17

Revenues 4,781 4,751

EBITDA before other items 2,073 1,656

EBITDA margin (before o.i) 43.4% 34.9%

EBITDA 2,057 1,653

Operating profit 398 193

Capex (excl. spectrum) 615 1,076

During the quarter, the total number of subscriptions decreased by 841,000 million 21.812 million.

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

Q118

Revenues 4,783

EBITDA before other items 2,067

Operating profit 392

Outlook 2018

- Service revenues excl interconnect: Around 2017 level (maintained)

- EBITDA margin: 34-36% (previously "EBITDA around 2017 level excl payment on TOT 2.3 GHz agreement")

- Capex: THB 15-18 billion (maintained)