OSLO (Reuters) – Norwegian telecoms operator Telenor on Wednesday reported third-quarter core earnings above forecasts thanks to a one-off gain in Pakistan and reiterated that its full-year profit was expected to be in line with last year.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for July-September rose 1.6% year-on-year to 13.06 billion Norwegian crowns ($1.26 billion), while analysts on average had expected 12.51 billion crowns.
The operator, which has around 175 million customers in eight countries across the Nordic region and Asia, last month issued a profit warning for 2022 citing spiralling energy costs.
“For the Group, high energy prices, especially in Norway, Denmark and Pakistan, continue to be a headwind,” Chief Executive Sigve Brekke said in a statement on Wednesday.
“However, the negative effects are, this quarter, countered by a reversal of sim tax provision in Pakistan.”
The company last month also announced a restructuring of its Nordic business and a potential listing of its Asian unit.
($1 = 10.3921 Norwegian crowns)
(Reporting by Victoria Klesty and Terje Solsvik, editing by Stine Jacobsen)
