April 28, 2020 / 5:07 AM / a month ago

BRIEF-Telenor Q1 Adjusted EBITDA NOK 14,106 Mln, Beats Estimates

April 28 (Reuters) - Telenor ASA:

* SOLID FIRST QUARTER FINANCIAL PERFORMANCE DESPITE EARLY INDICATIONS OF COVID-19 CONSEQUENCES

* TELENOR Q1 REVENUES NOK 30,953 MILLION (REFINITIV POLL: NOK 31,355 MILLION)

* TELENOR Q1 ADJUSTED. EBITDA NOK 14,106 MILLION (REFINITIV POLL NOK 13,805 MILLION)

* TELENOR REPORTS FIRST QUARTER 2020 RESULTS

* WHILE Q1 RESULTS ARE IN LINE WITH EXTERNAL GUIDANCE FOR 2020 PROVIDED LAST QUARTER, COVID-19 PANDEMIC HAS LED TO INCREASED UNCERTAINTY FOR REMAINS OF YEAR, ESPECIALLY RELATED TO DURATION OF LOCK-DOWNS ACROSS TELENOR’S MARKETS

* FOR 2020, TELENOR EXPECTS LOWER SUBSCRIPTION AND TRAFFIC REVENUES AND EBITDA GROWTH THAN PREVIOUSLY INDICATED.

* CAPEX TO SALES RATIO, EXCLUDING LICENCES AND SPECTRUM, IS EXPECTED TO BE AROUND 13 PER CENT.

* TO ENSURE CASH FLOW RESILIENCE, TELENOR WILL STRENGTHEN FOCUS ON CAPEX AND COST MANAGEMENT.

* MID-TERM AMBITIONS, COMMUNICATED AT CAPITAL MARKETS DAY IN MARCH, ARE MAINTAINED.

* FROM LATTER PART OF MARCH, WE HAVE STARTED TO SEE IMPACT FROM GLOBAL SPREAD OF COVID-19 ON OUR PERFORMANCE, AS WE ARE EXPERIENCING LOCK-DOWN SITUATIONS IN MANY OF OUR MARKETS.

* THIS IS IN PARTICULAR AFFECTING ROAMING REVENUES AND ASIAN PREPAID MARKETS. THESE EFFECTS ARE CONTINUING INTO Q2.

* IN THIS EXTRAORDINARY SITUATION, WE WILL CONTINUE TO MONITOR BUSINESS CLOSELY AND TAKE MEASURES ENSURING OPERATIONAL PERFORMANCE AND FLEXIBILITY

* WE WILL MAINTAIN STRATEGIC DIRECTION AND CASH FLOW FOCUS COMMUNICATED AT OUR CAPITAL MARKETS DAY IN BEGINNING OF MARCH. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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