Sigve Brekke, president and CEO of Telenor Group, said the company will focus on growth, efficiency and simplification in 2020.
Telenor is expecting organic subscription and traffic revenue growth of zero to two percent and organic EBITDA growth of two to four percent — supported by modernisation efforts. The Capex to sales ratio, excluding licences and spectrum, is expected to be around 15 percent in 2020.
Telenor reported revenue of NOK 31,808 million in Q4 2019 against NOK 27,070 million in Q4 2018 and NOK 113,935 million in 2019 against NOK 105,923 million in 2018.
Capex excluding licences and spectrum was NOK 5,574 million in Q4 2019 against NOK 6,055 million in Q4 2018 and NOK 17,415 million in 2019 against NOK 16,713 million in 2018.
Currency adjusted Opex excluding DNA decreased by NOK 0.6 billion or 6 percent in the fourth quarter. Reported Opex increased by NOK 1.0 billion. Currency adjusted Opex excluding DNA fell by NOK 0.3 billion, or 1 percent, in 2019.
EBITDA grew by 5 percent or NOK 0.5 billion on an organic basis in the quarter, as a result of revenue growth and Opex reductions. Reported EBITDA before other items was NOK 11.9 billion. EBITDA fell by 3 percent on an organic basis, as cost reductions were offset by the decline in gross profit, in 2019. EBITDA margin for 2019 was 40 percent.
Capex excluding licences and spectrum, not taking into account DNA, was NOK 4.9 billion in the quarter and NOK 16.6 billion for the full year.