OSLO, Feb 2 Reuters Norway39;s Telenor said on Wednesday it expects its earnings to be largely flat or slightly higher in 2022 compared to last year, as it posted quarterly profits below forecasts.

Adjusted earnings before interest, tax, depreciation and amortisation EBITDA for OctoberDecember fell 6.5 yearonyear to 11.7 billion Norwegian crowns 1.33 billion, while analysts in a poll on average had expected 12.2 billion.

The company39;s overall revenue declined by 4.8 in 2021, reflecting the pending sale of its Myanmar operation, while adjusted for this it increased by 1.2, it added.

Entering 2022, we will maintain our focus on returning to growth, Chief Executive Officer Sigve Brekke said in a statement.

Expansion will come from Telenor39;s push into cloud and 5G technology, dubbed beyond connectivity, as well as from planned tieups in Thailand and Malaysia and continued development of its Nordic infrastructure, the CEO added.

Telenor proposed a dividend of 9.30 crowns per share, compared to 9.0 crowns a year earlier and in line with analysts39; median expectation in the companyprovided earnings poll.

The COVID19 pandemic continues to hamper the group39;s revenue in Asia and the overall economic impact is most felt in Thailand, while subscription revenues in Malaysia has also taken a hit, the firm said.

The Telenor group, which has 172 million subscribers and gets about half its revenue from Asia and the rest from the Nordic region, expects low single digit…