Telenor Group has released its financial results for third quarter 2018 today. Telenor Pakistan has delivered another good quarter with revenue growth and strong profitability with Subscription and traffic revenues increasing by 10% and total revenues showing an increase of 11.5% reaching to PKR 29.
976 Billion, up PKR 3.081 Billion from same quarter last year. Reported EBITDA margin was 77%, but adjusted for reversals, the underlying margin was 54%.
According to a Press Release, the Telenor team delivered another quarter of solid and consistent performance, with stable revenues and a 6% organic EBITDA growth. The steps we have taken over the past two years have laid the foundation for continued value creation.
The third quarter was an important milestone for us in Thailand, as the concession model came to an end. We are very pleased how the transition to the licence model has been executed, removing uncertainty and securing significant access to spectrum and infrastructure. We now have a solid platform to deliver superior data services to our customers and create value in the growing Thai market.
In Norway, network quality is key to our customers and we are proud to have the world’s fastest mobile network. Our mobile customer base grew for the first time in three years and in addition, we continued to expand our fibre network and connected close to 9,000 households during the quarter.
In both Pakistan and Bangladesh revenue trends improved, while competition in Myanmar intensified following the entrance of a fourth mobile operator.
We also successfully completed the sale of our operations in Central and Eastern Europe and will continue to drive our transformation forward with a clear focus on growth, efficiency and simplification. Our achievements so far this year confirm the organisation’s strength and our ability to execute across the company,” said Sigve Brekke, Chief Executive Officer of Telenor Group.