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Telenor Group is reporting solid financial performance for the second quarter with profitable growth. The results show close to four million new customers, continued revenue growth, a strong EBITDA margin of 36% and an operating cash flow of more than NOK 5.6 billion. Telenor Group reported revenues of NOK 26.8 billion in the quarter, representing an organic revenue growth of 1.6%.
“The strong results in Norway reflect the rapid rise in customer demand for mobile data and our ability to provide relevant services supported by superior network quality and coverage. Our customers almost doubled their data usage from the second quarter last year. The extensive network expansion and increase in 4G enabled phones are the key drivers of this positive development resulting in an ARPU increase of 4% and underlying mobile revenue improvement of 6%. While the results are strong, the high investments in modern infrastructure and changes in customer expectations demand continued efficiency improvements, as well as strong efforts for building capabilities for the future,” said Jon Fredrik Baksaas, President and CEO of Telenor Group.
“In Thailand, our ability to successfully migrate customers to the new 3G network and complete the transition to a licensing regime is key to delivering high quality services as well as improving profitability. A combination of intense competition, a lower interconnect rate and weaker macro-economic development have material effect on sales this quarter. Dtac has managed to further reduce regulatory costs, and has also taken measures to increase efficiency and enhance capabilities to manage evolving market conditions and to meet customer expectations,” said Baksaas.
“I am pleased to note strong performance by our operations in Sweden and Malaysia as well as growth in Pakistan, Bangladesh and India. However, the Danish telecom market remains challenging. The operational performance this quarter underscores the benefits of a well-diversified Group,” said Baksaas.
“On the back of strong performance so far this year and our estimates for the remainder of 2014, we now expect an EBITDA margin above last year while our revenue outlook remains at low single digit organic growth. Following the shift of the satellite-related capex to next year, we adjust this year’s capex to sales ratio downwards to be in the range of 14-15%,’’ said Baksaas.
SAILOR 800 & 900 VSAT ready for new Ku- and Ka-band services
Satellite 2014, Washington – Cobham SATCOM’s SAILOR VSAT antennas have been approved for operation on the existing Ku-band as well as the forthcoming THOR 7 Ka-band satellite from Telenor Satellite Broadcasting (TSBc). THOR 7, TSBc’s latest satellite is expected to be launched in Q4, 2014 and is equipped with a Ka band HTS payload. The SAILOR 800 VSAT and SAILOR 900 VSAT have been approved to support Ku band services on the existing THOR fleet. Additionally, SAILOR 900 VSAT will be compatible with THOR 7.
Covering the 1˚West region, THOR 7’s Ka-band capacity is strategically positioned over the main shipping routes in Europe and major oil and gas exploration and production areas, including the North Sea. The THOR 7 Ka-band HTS payload offers 6-9 Gbps throughput with up to 25 simultaneously active spot beams. Services will offer reliable speeds in the tens of Mbps downlink, even from small antennas. Uplink speeds are anywhere from 2Mbps to 6Mbps depending on antenna size. Service reliability is key, with TSBc implementing a package of solutions to mitigate Rain fade on Ka-band, including a new uplink site in Norway to provide antenna site diversity.
“THOR 7’s Ka-band HTS payload has been specifically designed for the mobility VSAT market, offering highly concentrated and high powered coverage over our main market area, including the North Sea, Mediterranean and the Baltic Sea,” comments Julian Crudge, Divisional Director, Datacomms, Telenor Satellite Broadcasting. “The Ka-band HTS payload adds vital growth capacity for our long standing maritime and energy customers and SAILOR antennas will be ready for the start of THOR 7 Ka-band service delivery.”
Cobham SATCOM’s SAILOR 800 VSAT and SAILOR 900 VSAT antennas introduce a new approach to maritime VSAT with uniquely simple procurement and installation in addition to top of the line RF performance. After ordering a complete system with a single part number, SAILOR VSAT antennas leave the factory fully tested and configured, with all RF equipment installed, which simplifies logistics for the service provider and reduces the time needed on board for installation.
“Approval for Cobham SATCOMs Maritime VSAT antennas on Thor 7 strengthens the longstanding co-operation we have with Telenor and is testament to the standardisation approach we have for SAILOR antennas,” adds Casper Jensen, VP Maritime Business, Cobham SATCOM. “Our maritime users will be among the first to benefit from the power of HTS with innovative, reliable Ka-, Ku- and Ka/Ku-band antennas from both SAILOR and Sea Tel already prepared for the next generation of maritime VSAT services.”
Cobham protects lives and livelihoods with its differentiated technology and know-how, operating with a deep insight to customer needs and agility. The Group offers an innovative range of technologies and services to solve challenging problems across commercial, defence and security markets, from deep space to the depths of the ocean. It has market leading positions in air-to-air refuelling; aviation services; audio, video and data communications, including satellite communications; defence electronics; life support and mission equipment. The most important thing Cobham builds is trust.
About Cobham SATCOM
Cobham SATCOM develops, manufactures, sells and supports satellite and radio communication terminals and earth stations for land, marine and airborne applications. With the ever increasing demand for communication, our products and services are used to satisfy the needs of a wide variety of commercial, governmental and recreational applications. Cobham SATCOM uses state-of-the-art technologies to design affordable, highly reliable high performance systems that have decreased over time in terms of size, weight and power consumption. Our products enable people to stay in touch under the most challenging and demanding conditions. When traditional communication technologies fail, Cobham SATCOM’s products will keep providing our customers with high quality voice, data, and multimedia communications.
Our product designs have evolved tremendously during their decades in service in use around the world in a variety of domains and environments. We market under the AVIATOR, EXPLORER, SAILOR® and Sea Tel brands. Please refer to our websites for our list of global distributors and partners. Cobham SATCOM has design, development and manufacturing facilities in Denmark, South Africa and the USA.
Visit www.cobham.com for more information.
In the fourth quarter of 2013, Telenor Group reported revenues of NOK 28 billion, representing an organic revenue growth of 1%. EBITDA before other items was NOK 8.99 billion, the EBITDA margin was 32.6%, and operating cash flow was NOK 4.42 billion.
“During 2013, Telenor Group increased or maintained its market share in key markets. For the fourth quarter, Telenor Group reports organic revenue growth of 1 percent, in line with the company’s growth rate for the full year. The EBITDA margin for 2013 was 34.5 percent, a two percentage point improvement from the previous year. Revenue growth combined with the margin improvement, resulted in a record-high EBITDA of NOK 36 billion for the year,’’ said Jon Fredrik Baksaas, President and CEO of Telenor Group.
“During the year, we added 17 million subscribers, of which 5 million alone in the final three months. This growth was mainly driven by India, Pakistan and Bangladesh. These countries still represent a significant potential for further growth,’’ said Baksaas.
“In Thailand, I am pleased to see that the migration of customers to our new 3G network is progressing well. In addition, solid underlying service revenue growth from data in our Thai operation is noticeable. In Malaysia, DiGi’s ability to offer relevant data services sets an excellent example for how data can drive growth and profitability. With Grameenphone’s launch of 3G services, we have leaped toward providing affordable data services to our customers in Bangladesh. Political and regulatory challenges continue to impact several of our Asian markets,’’ said Baksaas.
“The telecommunications industry continues to progress rapidly and plays an increasingly important role in people’s everyday lives. As the world goes digital, Telenor Group is strategically managing the transition from voice to data and we will continue to focus on our Internet for All ambition, an initiative to connect the unconnected in all our markets. We are now getting started in our new market Myanmar, a nation of 60 million people and vast untapped growth potential. After signing the licence agreement last month, we will leverage on our regional experience and aim to provide accessible and affordable mobile communications to people across the country,’’ said Baksaas.
“In India, our operating model resulted in solid trends in the second half of the year. Strong subscriber growth and increased revenue per customer resulted in an organic sales growth of 36 percent in the fourth quarter. We are now taking a lead challenger position in the six circles we are present,’’ said Baksaas.
“In Norway, we are gaining subscribers and see increasing demand for larger data packages, resulting in an improved sales mix. At the end of the year, we secured new spectrum, which will enable Telenor to offer superior nation-wide 4G services within the next two years. While macro-economic pressure continued in Eastern Europe during the quarter, we see solid trends in Sweden and in our Broadcast division,’’ said Baksaas.