KARACHI – Telenor Pakistan announced its Q4 results for 2020 today and reported an improvement in overall performance and added more than 1 million subscribers in Q4 bringing overall subscriber base to over 47 million. In what has been a challenging year with the pandemic negatively impacting the results, the subscription and traffic (S&T) revenues declined 6.1% for 2020. However, the trends have been improving for the 2nd half of 2020, and Q4 S&T revenues were flat on reported basis, with underlying growth on normalized basis.
Telenor Pakistan’s Q4 performance showed an improvement in underlying S&T revenue, however due to continuous challenging factors in the business environment, the company experienced a flattish subscription and traffic (S&T) revenue of -0.3%. Still, in a highly competitive and challenging market Telenor Pakistan has successfully managed to deliver EBITDA growth both for Q4 and YoY as a result of the company’s strategy to prioritize costs, improve subscriber engagement and introducing market portfolios at the right time.
“I am happy to share that our efforts to improve subscriber engagement contributed to our overall performance. Despite the challenges faced by the pandemic and other factors, we were able to strengthen the profitability with a YoY EBITDA growth and we ended the year on a strong note by adding more than a million new subscribers on net basis. We were successfully able to control our OPEX by prioritizing spending and providing our customers with the services and offers they need at the right time. Now we remain focused on improving the business environment to provide the opportunity for further profitable investments and growth” Said Fridtjof Rusten, Chief Finance Officer Telenor Pakistan.
