Telenor says it’s been able to produce a solid first quarter financial performance, despite the impact of Covid-19 on many of its markers.
The company reported EBITDA growth of 3 per cent and solid free cash flow of almost NOK 4 billion.
While operations in Myanmar delivered a growth of 25 per cent as subscriber numbers grew, Sweden and Pakistan continued to face challenging markets. From late March, the telco has begun to experience lockdowns in many of its markets, which are continuing into the second quarter.
In Norway, revenues grew by 2%, including the addition of 7,000 new TV subscriptions.
In Finland, DNA reported continued solid growth in mobile subscription and traffic revenues.
Fixed subscription and traffic revenues fell by 2%, primarily due to lower TV revenues, including the sale of some of its antenna customers on 1 January 2020.
