Third quarter 2013

Growing profitability - Seite 2

"Globul in Bulgaria was included in the Telenor Group as of August. In Myanmar, we are expecting to finalise the licence later this year with the aim of launching services in mid-2014," said Baksaas.

Outlook
"Based on the performance in the first three quarters and the outlook for the rest of the year, we revise the outlook for organic revenue growth to 1-2% and capex to sales to 13-14%. We maintain our guidance of around 34% EBITDA margin," said Baksaas.
 Key figures
The table below contains key figures for the third quarter of 2013, compared to the previous year.

	3Q	3Q	Year
(NOK in millions except earnings per share)	2013	2012 (Restated)	2012 (Restated)
Revenues	25 953	25 253	101 718
EBITDA before other income and expenses	9 619	8 820	32 848
EBITDA margin before other income and expenses (%)	37.1	34.9	32.3
Adjusted operating profit[1]	6 281	5 390	18 446
Adjusted operating profit/Revenues (%)	24.2	21.3	18.1
Profit after taxes and non-controlling interests	3 917	3 650	8 809
Earnings per share from total operations, basic, in NOK	2.59	2.34	5.63
Capex	5 589	5 499	21 511
Capex excl. licences and spectrum	3 730	3 336	12 299
Capex excl. licences and spectrum/Revenues (%)	14.4	13.2	12.1
Operating cash flow  [2]	5 889	5 484	20 549
Net interest-bearing liabilities [3]	37 752	28 597	33 082

For more information please refer to the quarterly report at http://www.telenor.com/investors/reports/2013/telenors-results-for-the ...

Media Contact:
Meera Bhatia, Communications Manager, Tel: [phone], E-mail: [e-mail]
To the editorial offices:
Press and analyst conference
In connection with the publication of the financial results, a press and analyst conference will be held on Thursday 31 October 2013 at 09:00 hrs Norwegian time/CET. The presentation will be held in Auditorium A, Telenor Expo Visitors' Centre, at the Telenor Headquarters at Fornebu. President and CEO Jon Fredrik Baksaas and CFO Richard Olav Aa will present the results. All presentations will be given in English.
Internet and mobile broadcast
The press and analyst conference will be broadcast live over the Internet, and a recorded version will be made available on http://www.telenor.com/investors/reports/2013/telenors-results-for-the ... . During the live transmission, written questions may be submitted via the Internet. The conference will also be available live, and in a recorded version, on mobile phones - for access, SMS expo to 2440 or +472440 from abroad.