News
Norwegian telco reports earnings growth in Q3, says cost-cutting drove record EBITDA margin
Telenor reached its full-year cost-savings targets in the third quarter of this year and therefore expects full-year efficiency gains to come in ahead of target, it announced alongside its third quarter results on Wednesday.
"So far this year, our team has achieved cost savings of 1 billion kroner, implying that our target for 2017 has already been met and further efficiency gains should be expected going forward," said Sigve Brekke, the Norwegian operator’s chief executive officer said, in a statement.
Cost reductions of NOK0.4 billion in the three months to the end of September helped Telenor post a record EBITDA margin of 42%, the operator revealed.
EBITDA grew by 5.4% to NOK12.98 billion (€1.4 billion).
For the three months to the end of September, Telenor posted 1% year-on-year organic revenue growth, although its reported turnover figure fell by 1.6% to NOK30.74 billion (€3.2 billion).
