Telenor Group had organic growth of 4.5% in its Q3. "We report solid third-quarter results with 4% organic revenue growth and 6% organic EBITDA growth. More than five million new customers connected to Telenor, and I am pleased to see that almost 200 million people are using our services. We witness strong growth in data consumption across our markets. Going forward, it is of utmost importance that we monetise this growth in order to secure healthy returns on our significant investments,'' said Sigve Brekke, Telenor Group President and CEO.
Telenor reported third-quarter revenues of NOK 31.8bn and organic revenue growth of 4%. EBITDA before other items was NOK 11.8bn and the EBITDA margin remained stable at 37%. Adjusted for VimpelCom impairment, net income was NOK 3.6bn.
The guidance for the full year is organic revenue growth of around 5% and an EBITDA margin of 34%-35%. The adjusted outlook is primarily a consequence of the inclusion of the Danish operation.
In Norway, strong mobile market performance continued driven by increasing data demand. Mobile subscription and traffic revenues rose 5%. With annual investments of more than NOK 4 billion, we will continue to provide our customers with superior network experience.
The planned merger with TeliaSonera in Denmark was withdrawn and we are now reviewing our strategic options in Denmark. There are promising growth trends visible in Pakistan, Bangladesh, Sweden and Hungary. Subscriber growth significantly increased both in Pakistan and Bangladesh, while the operations in Sweden and Hungary reported improved subscription and traffic revenue growth.