Disappointing quarter for Telenor Broadcast

Telenor headquarters at FornebuCanal Digital lost 3,000 DTH subscribers in Q4 2012 as revenues from sales to Danish housing associations hit revenues.

Telenor’s pay-TV operation saw revenues flatline at NOK 1,109 million (€139.699m) on a lower DTH subscriber base of 945,000, a drop of 20,000 year-on-year, although this was compensated in part by higher ARPU, up NOK 9 at NOK 354 and increased hardware sales.

The competitive market saw subscriber erosion in Norway 489,000 (499,000), Sweden 307,000 (310,000) and Denmark 98,000 (108,000). Finland gained an additional 10,000 subs to reach 50,000 as of December 31.

Revenues also fell within Telenor Satellite, from NOK 242 million to NOK 239 million, where revenues decreased after lower revenues from broadcasting and the phase out of the Thor II satellite.

Outgoing Telenor Satellite CEO Cato Halas said there had been continued growth in the offshore services and enterprise sector. “This is closely aligned to our growth strategy as we prepare for our latest satellite, Thor 7, which is set to launch mid-2014”.

Revenues and EBITDA in technology and security company Conax increased due to higher sale of smart cards primarily driven by the Indian market.

Telenor Broadcast group revenues grew overall to NOK 1,679 million, though EBITDA fell from 34% to 27%.