Telenor posts earnings, buoyant in Myanmar

Telenor SIM cards in Myanmar.

Telenor SIM cards in Myanmar.​ Photo: Telenor Myanmar

Norwegian telecom company Telenor has posted its revenue and EBITDA growth in the second quarter, highlighting the contribution from a new group operation in Myanmar, reports Total Telecom on July 22.

Telenor posted strong quarterly revenue growth on July 22, but its earnings came in behind analysts' expectations, despite getting a boost from the telecom's buoyant Myanmar operation.

The Norwegian incumbent posted revenues of 30.18 billion kroner (€3.4 billion) in the three months to the end of June, up 17.5% year-on-year. It attributed the growth to positive currency effects of NOK5.8 billion, a good contribution from Myanmar, and a solid performance in Norway, amongst other things.

EBITDA or Earnings Before Interest, Taxes, Depreciation and Amortization grew by 11.3% to NOK10.57 billion (€1.2 billion), just shy of the NOK10.77 billion predicted by analysts, according to a Reuters poll.

Telenor said its underlying EBITDA improvement was mainly driven by its operations in Myanmar and in India.

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