Telenor Group posts Q1 results as pace of digital transformation steps up

- Finance - Apr 24, 2018

Telenor Group recorded a positive set of results in its first quarter of 2018 as it continued its path towards digital transformation.

The Norwegian telco added nearly two million customers in the opening three months of the year and saw its earnings before tax rise by 10%, with business sharply on the rise in Asia particularly.

Streamlining of business led to the closure of mobile operations in central and eastern Europe though it strengthened digital positions by entering a strategic partnership to develop financial services business in Pakistan.

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Digital transformation is Telenor's number one priority for 2018, as CEO Sigve Brekke revealed when speaking late last year.

"Our next steps are to continue transforming our business by focusing on digitalising the core, improving efficiency across the company and nurturing growth, where we see reassuring trends and potential," he said. "In order to further improve our services and remain competitive, we aim to leverage new technologies and make responsible use of our data for the benefit of our customers."

In February, Business Chief reported that Telenor had signed a Joint Purpose Agreement (JPA) with Cisco to improve customer experiences through a range of technologies.

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