Half-year results from Telenor
Fornebu
5 minute read
Telenor groups operating profit for the first half-year of this year was NOK 1.983 million, which is an increase of NOK 188 million compared to the same period last year. The growth in operating income compared to the first half-year of 1999 is almost 10 percent. Telenors pre-tax profit for the first half-year was NOK 1.657 million which is NOK 309 million more than the same period last year.
Telenors operating profit for the first half-year includes net sales profits of NOK 422 million which, for comparison, showed a loss of NOK 47 million in the first half-year last year. If one ignores the effect of the sales profits, then operating profit is reduced by NOK 282 million, or 15 percent, compared to the first half-year last year.
On the whole, operating profit was negatively affected by strong competition and loss of customers in the domestic market as well as increased activity coupled with the development of new products and services and continued international expansion. Operating profit was positively affected by the increased profitability in the groups cellphone operations.
Competition for fixed telephony has intensified. Telenors market share, measured in the number of traffic-minutes for stationary telephony, was 79 percent at the end of the first half-year. The market share in December 1999 was approximately 87 percent. Out of a growth of 27 percent in the number of traffic-minutes in the first half-year compared to the first half-year last year, 10 percent was generated in Telenors business areas.
The number of GSM subscribers in Norway (incl. zalto) at the end of the first half-year was 2,041,000, a net increase of 257,000 during the course of the half-year. Of this increase, 185,000 were pre-paid subscribers.
The number of Telenor Internet subscriptions in Norway was 505,000 at the end of the first half-year, an increase of 105,000 subscriptions since the end of the year.
Affiliated companies booked a deficit of NOK 272 million for the first half-year this year, which is an improvement of NOK 236 million compared to the first half-year 1999. The improvement in the accounts for the affiliated companies was affected by the sale of shares of i.a. the company SOL AB. The proportionate share of income from affiliated companies in the first half-year was NOK 4.215 million, an increase from NOK 2.569 million in the same period last year.
The increased income from affiliated companies is mainly due to an increase in the number of customers in affiliated foreign cellphone companies. The total number of mobile subscribers in the mobile companies in which Telenor is part-owner has increased from 2.1 million at the end of the first half-year last year to 7.1 million at the end of June this year. Telenors proportionate share of these subscriptions increased from 0.6 million on 30 June 1999 to 1.8 million on 30 June 2000.
The Telenor group invested NOK 9.8 billion during the first half-year, of which NOK 3.1 billion was outside Norway.
For more information, you can visit Inverstor Relations at Telenor
On the whole, operating profit was negatively affected by strong competition and loss of customers in the domestic market as well as increased activity coupled with the development of new products and services and continued international expansion. Operating profit was positively affected by the increased profitability in the groups cellphone operations.
Competition for fixed telephony has intensified. Telenors market share, measured in the number of traffic-minutes for stationary telephony, was 79 percent at the end of the first half-year. The market share in December 1999 was approximately 87 percent. Out of a growth of 27 percent in the number of traffic-minutes in the first half-year compared to the first half-year last year, 10 percent was generated in Telenors business areas.
The number of GSM subscribers in Norway (incl. zalto) at the end of the first half-year was 2,041,000, a net increase of 257,000 during the course of the half-year. Of this increase, 185,000 were pre-paid subscribers.
The number of Telenor Internet subscriptions in Norway was 505,000 at the end of the first half-year, an increase of 105,000 subscriptions since the end of the year.
Affiliated companies booked a deficit of NOK 272 million for the first half-year this year, which is an improvement of NOK 236 million compared to the first half-year 1999. The improvement in the accounts for the affiliated companies was affected by the sale of shares of i.a. the company SOL AB. The proportionate share of income from affiliated companies in the first half-year was NOK 4.215 million, an increase from NOK 2.569 million in the same period last year.
The increased income from affiliated companies is mainly due to an increase in the number of customers in affiliated foreign cellphone companies. The total number of mobile subscribers in the mobile companies in which Telenor is part-owner has increased from 2.1 million at the end of the first half-year last year to 7.1 million at the end of June this year. Telenors proportionate share of these subscriptions increased from 0.6 million on 30 June 1999 to 1.8 million on 30 June 2000.
The Telenor group invested NOK 9.8 billion during the first half-year, of which NOK 3.1 billion was outside Norway.
For more information, you can visit Inverstor Relations at Telenor