Telenor Swung to 2Q Net Loss, Trims Guidance
2022年7月19日 - 4:17PM
Dow Jones News
By Dominic Chopping
Norwegian telecommunications provider Telenor ASA on Tuesday
swung to a second quarter net loss and trimmed full-year guidance
as earnings were weighed by an impairment related to Pakistan and
currency losses.
The company posted a second-quarter net loss of 1.11 billion
kroner ($109.9 million), compared with a net profit of NOK2.19
billion a year earlier and versus a company-compiled consensus of
NOK2.3 billion.
Earnings before interest, tax, depreciation and
amortization--the company's preferred measure--rose to NOK12.12
billion from NOK12.1 billion, as revenue rose 3.2% to NOK28.04
billion, the company said.
A company-compiled consensus had expected Ebitda of NOK11.94
billion on revenue of NOK27.28 billion.
Telenor said the strengthening of U.S. dollar against the
Norwegian krone and weakening of Norwegian krone against other
currencies led to net currency losses of NOK2.3 billion in the
second quarter, while it also booked a NOK2.5 billion impairment in
Pakistan related to additional spectrum fees and a NOK900 million
provision in India.
The mobile subscription base grew by 2 million in the second
quarter, to 175.0 million.
For 2022, Telenor said it still expects low-single-digit growth
in service revenue, but now sees earnings before interest, tax,
depreciation and amortization around the 2021 level, having
previously seen a flat or slightly higher level.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
July 19, 2022 03:02 ET (07:02 GMT)
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