Telenor reports positive Q2 results
Norway’s Telenor has increased its full-year margin guidance after reporting second quarter earnings that were in line with the company’s expectations.
The company, which mainly operates across Europe and Asia, reported that it had outperformed its own expectations so far this year, after strong Asian figures and better performance in the Nordic region.
Telenor, which is expected to launch its mobile service in Myanmar later this year, believes it is now reaping the benefits of a successful migration from voice to data, after its Q2 EBITDA rose by 7.5% to $1.5 billion.
The company is also forecasting lower capital spending this year after holding off on investments in satellite until next year, and will set its capital spending at up to 15% of sales revenue – lower than earlier guidance of 16%.
Norway and Bangladesh, the company’s biggest units, beat expectations for EBITDA, although the company struggled in Denmark and Thailand.
Thailand’s telecoms sector is still feeling the effects from the country’s political upheaval, which is weighing heavily on consumer confidence in the market.