Telenor ASA — Earnings Release 2019

Apr 25, 2019

dtac - results for the first quarter 2019

dtac - results for the first quarter 2019

Telenor Group’s subsidiary in Thailand, dtac, has today reported its first quarter 2019 results. Telenor’s consolidated figures in NOK million are as follows:

Q1 19 Q1 18

Revenues 5,347 4,783

EBITDA before other items 1,677 2,067

EBITDA 1,656 2,050

Operating profit 624 392

Capex (excl. spectrum) 1,183 615

Subscription and traffic revenues in local currency decreased by 6%. The EBITDA margin was 31%. During the quarter, the total number of subscriptions decreased by 476,000 to 20.7 million.

According to the new accounting standard IFRS 16, the figures in NOK million for the first quarter 2019 are as follows:

Q119

Revenues 5,284

EBITDA before other items 1,976

Operating profit 636

Outlook 2019

• Capex: THB 13-15 billion

• When it comes to revenues and EBITDA, dtac maintains its ambition to return to growth in subscription and traffic revenues during 2019. A more detailed outlook will be provided at dtac’s capital markets day 4 June. Telenor Group’s revenue and EBITDA outlook will therefore include dtac from the second quarter onwards.