Billion losses for Telenor after the budget impairment in Denmark

Telenor CEO Sigve BrekkeOslo: Telenor CEO Sigve Brekke.Photo: Fredrik Varfjell / NTB scanpix

Telenor reported a profit after tax of minus 2.125 billion in the fourth quarter of 2015. The Company has made an impairment of 2.1 billion in Denmark.

The outlook for the Danish telecommunications market remains challenging, the company reported.

Telenor’s revenues for the fourth quarter was NOK 33.5 billion, an increase from 30.4 billion in the fourth quarter of 2014.

The operating profit before depreciation and other items (EBITDA) ended at NOK 10.6 billion, an increase from 9 billion the same quarter last year.

For 2015, the company had revenues of 128.1 billion and an operating profit (EBITDA) of 43.3 billion.

– Five percent organic revenue growth and five percent organic EBITDA growth in 2015 demonstrates the strength of our businesses. We begin, however, in 2016 with increased competition in some of our key markets. Therefore, my main task will be  to ensure that we focus on profitable growth and cost efficiency ,  CEO Sigve Brekke  in Telenor says

Telenor reports high growth in the retail market for mobile services in Norway and Sweden, are driven by an increasing in data usage.

Overall, the company received 6.6 million more subscribers in the fourth quarter. Telenor ended the year with 203 million customers.


Source: NTB scanpix  / Norway Today