Telenor ASA — Earnings Release 2018

Apr 19, 2018

Grameenphone first quarter 2018 results

Grameenphone first quarter 2018 results

Telenor Group's subsidiary in Bangladesh, Grameenphone, has today announced its results for the first quarter 2018. Telenor's consolidated figures in NOK million for the first quarter 2018 are as follows:

Q118 Q117

Revenues 2,952 3,277

EBITDA before other items 1,701 1,903

EBITDA 1,703 1,886

Operating profit 1,116 1,284

CAPEX 1,977 480

CAPEX excl spectrum licences 361 480

Total revenues in local currency increased by 2% while subscription and traffic revenues increased by 6%. From first quarter 2018, Grameenphone has changed from gross to net accounting of revenues from handsets and value added services. Adjusted for this negative effect, total revenues increased by 5% and subscription and traffic revenues increased by 7%.

During the quarter the number of subscriptions increased by 2.128 million to 67.457 million.

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

Q118

Revenues 2,952

EBITDA before other items 1,695

EBITDA 1,696

Operating profit 1,110