Telenor’s Malaysia unit beats Q4 earnings forecasts

The Malaysian unit of Norwegian telecom firm Telenor reported sales and core earnings slightly above average forecasts for the fourth quarter and expects sales to grow by four to six percent in 2014, Telenor said on Thursday.

Earnings before interest, tax, depreciation and amortization rose to 1.51 billion Norwegian crowns ($241.88 million) for the quarter from 1.35 billion in the same period of 2012. Analysts in a Reuters poll had on average expected 1.45 billion.

Sales rose to 3.27 billion from 3.03 billion, beating an average expectation for 3.25 billion.

“In 2014, DiGi aims to deliver 4-6 percent revenue growth and an EBITDA margin sustained at 2013 level. The capex to revenue ratio is expected to be slightly higher than in 2013,” Telenor said.

Analysts in the Reuters poll on average predicted revenue growth of 5.8 percent for 2014.

($1 = 6.2428 Norwegian krones)

Source: Reuters, February 6.

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