Telenor Myanmar, the country’s second largest operator, posted strong growth in revenue and profit for Q2, as it added 1.4 million subscriptions during the quarter.
Its operating profit rose 64 per cent year-on-year in Q2 to NOK614 million ($73.6 million), while EBITDA increased 73 per cent to NOK827 million, which it said was driven by the continued growth in subscribers and usage, but partly offset by increased costs as it expanded its network.
Revenue jumped 59 per cent to NOK1.8 billion, with mobile turnover expanding 58 per cent to NOK1.49 billion. Revenue in local currency terms increased 3 per cent compared with the first quarter, driven by continued subscription growth and strong growth in data usage.
ARPU in local currency decreased by 8 per cent compared with the first quarter, due to increased penetration in rural areas and promotional activities, the operator said.
Capex was down 11 per cent to NOK766 million in Q2 compared with a year ago. The operator added 820 base stations during the quarter, taking its total to 5,831 sites.
Telenor has expanded quickly in Myanmar since it launched service in Q3 2014 along with the country’s other foreign operator, Ooredoo. Telenor had nearly 17 million mobile connections at the end of Q2, up by 3.3 million from the end of 2015, giving it a 37 per cent market share, according to GSMA Intelligence. State-owned MPT has seen its share fall from 100 per cent to 44 per cent over the last two years, while Ooredoo has a 17 per cent share.
Its parent company, Norway’s Telenor, recently named Lars Erik Tellmann as CEO of Telenor Myanmar, replacing Petter Furberg, who will take a new position in Telenor Digital Businesses in Asia effective 1 August.