Telenor Stock Gains On Q2 Subscriber Growth

Telenor ASA TELNY reported a second-quarter FY21 revenue decline of 6.3% year-on-year to about NOK 27.2 billion.
Organic revenue grew 3.3% Y/Y.
Subscription and traffic revenues increased by 2% Y/Y on an organic basis.
The growth reflects strong performance in the Nordics combined with a growing subscriber base and increased data consumption in the Asian markets.
The company’s mobile subscriber base rose by 1.7 million.
Organic EBITDA grew 3.6% Y/Y.
EBITDA margin remained flat at 45.5%.
The net income was about NOK 2.2 billion.
The company generated NOK 9.8 billion in net cash flow from operating activities.
It held NOK 19.7 billion in cash and equivalents.
Outlook: It currently sees organic subscription and traffic revenues growth of 0-1%, organic EBITDA growth of 0-2% in FY21.
In June, Telenor paid the first tranche of the dividend for 2020 of NOK 6.7 billion or NOK 5.0 per share.
On July 8, the Group announced an agreement to sell its operations in Myanmar.
Price action: TELNY shares are trading up by 2.91% at $17.05 on the last check Tuesday.

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