Telenor ASA Q2 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Titus Krahn - BofA Securities, Research Division - Analyst : I have just 2 topics on the Asian markets, if I may. First one, maybe on Thailand, you just already mentioned that tourism is to some extent coming back, but I think we see more inflows from European and North American travelers compared to, for example, China. Do you have a different exposure to those 2 different groups in terms of European travelers versus Asian ones? And how should we think about trends for the next quarters? And maybe then on the Thailand M&A progress. Could you give us maybe an update and remind us why you are so confident to close as you assume where there are different opinions on the responsibilities and the process? And then maybe very quick (technical difficulty) shows quite good service revenues and EBITDA trends, but we recently heard out the ban on SIM card sales. Could you elaborate how you're dealing with the ban and the regulator and how it could impact your trends for the remainder of the year? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 19, 2022 / 7:00AM, TEL.OL - Q2 2022 Telenor ASA Earnings Call

Question: Titus Krahn - BofA Securities, Research Division - Analyst : Very clear. And maybe just to comment again on the M&A progress in Thailand.

Question: Frank Maa° - DNB Markets, Research Division - Analyst : Yes. So my question is basically on OpEx development. You didn't have a separate slide on that this time. But I think if you adjust for the positive one-offs or accruals in the quarter, I think OpEx is somewhat -- somewhere in the territory of 5% to 6% up year-on-year. And you've guided for next year that you hope to get OpEx down to minus 1% to minus 3%. So could you please walk us through how -- what you're doing and then kind of what the main effects will be to get OpEx to kind of bridge that gap and then get OpEx back into a lower pace in the second half of this year, please?

Question: Frank Maa° - DNB Markets, Research Division - Analyst : Okay. If I may a follow-up on your previous statements on -- in prior presentations on the potential for a more pan Asian consolidation. How -- could you give us an update on how the current inflationary and geopolitical environment has affected the prospects of such development, if at all?

Question: Usman Ghazi - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : I just wanted to ask just on the mobile segments, the shift in trend that we're seeing. In the report, so not in the presentation, but in the report, you highlight that you're seeing a return of roaming volumes across the Nordic region, and that in part has helped the mobile trend. Is it possible to indicate how much of the improvement in trend that you have seen is a result of a return of roaming -- a stronger roaming this quarter? And then just on the price increases that you have put through, can you perhaps give some color? I mean are these CPI-linked pricing kind of regimes that REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 19, 2022 / 7:00AM, TEL.OL - Q2 2022 Telenor ASA Earnings Call you have introduced now in your markets? And what kind of reaction are you seeing from competitors? Are they following your price increases or not?

Question: Usman Ghazi - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Just on Bangladesh situation. Sigve, you said that you do not expect the SIM card ban to have an adverse effect on the guidance. You've also said you do not expect the ban to impact customer growth in the second half. I mean I guess your comments are implying you expect a resolution on this fairly soon if those 2 comments are true. I mean is that a fair reading of the situation? Or am I misunderstanding what you're saying?

Question: Usman Ghazi - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Okay. And just a follow-up. I mean, is it fair to say that this -- I mean any resolution should not be expected to be linked to the tax dispute that has been ongoing between yourselves and the government there. Or...