Telenor cited a to-do list for 2014 that includes tackling political and regulatory challenges in several Asian markets, capital expenditure at home and a major network rollout in Myanmar, as it unveiled guidance for the year that fell short of analysts’ expectations.
Fourth quarter 2013 net income fell to NOK 2.43 billion ($396 million) from a restated NOK 2.51 billion in the same period in 2012, while revenue rose to NOK 27.6 billion from NOK 26 billion in 2012, another restated figure.
The company struck a cautious note while still holding out for upbeat news later in 2014. “It’s early in the year, and given the uncertainties, we think it’s prudent to guide in line with 2013, but the internal ambition is definitely higher,” said CFO Richard Aa as reported by Reuters.
The operator’s projection, excluding its start-up operation in Myanmar, is for low single-digit organic revenue growth, a stable Ebitda margin and a capex to sales ratio of around 16 per cent.
Analysts honed in on the first two projections, with many having forecast five per cent revenue growth. A stable Ebitda margin was also below analyst consensus.
The company also reported that it added five million new subscribers in the final three months of the year. This figure contributed to a growth of 17 million across the whole of 2013. The growth was mainly driven by India, Pakistan and Bangladesh.