
6 minute read
Share
We see positive trends for mobile service revenues in the Nordic region, with a growth of 4 percent in the third quarter , says Sigve Brekke, President and CEO of Telenor Group.
For the Group, high energy prices, especially in Norway, Denmark, and Pakistan, continue to be a headwind. However, the negative effects are, this quarter, countered by a reversal of sim tax provision in Pakistan, leading to 2.5 percent EBITDA growth. Free cash flow came in at NOK 5 billion, implying a cash generation so far this year of NOK 10 billion.
In September, Telenor hosted a capital markets day where the strategy and ambitions for the next three years were presented. The Group's operations and value creation will be focused around four business areas: Telenor Nordics, Telenor Asia, Telenor Infrastructure and Telenor Amp. The sale of a 30 percent stake in the newly established fibre infrastructure company in Norway, which is expected to close in early 2023 confirms the company's execution on this strategy.
In the Nordics, growth in value added services is contributing to mobile revenue growth. We see a continued trend of customers' high demand for secure connectivity in a sharply increasing digital risk environment , says Brekke.
Increased data usage was the main driver for Grameenphone's 7 percent service revenue growth this quarter, which also translated into solid EBITDA growth. In Malaysia, the planned merger of Digi and Celcom received clearance from the Securities Commission, and is expected to be completed before year-end, following approval by the companies' shareholder meetings.
With regards to the outlook for the year, Telenor maintains the expectation of low single digit growth in service revenues. Although a significant increase in energy prices is weighing on the EBITDA, a positive one-time effect in Pakistan this quarter supports maintaining the outlook of organic EBITDA around last year's level. The capex to sales ratio is expected to be in the previously indicated range of 16-17 percent.
Key figures Telenor Group
Third quarter
First three quarters
Year
NOK in million
2022
2021
2022
2021
2021
Revenues
28 428
27 411
83 473
82 087
110 241
Organic revenue growth (%)
4.5
0.3
2.4
1.0
1.2
Service revenues
21 914
21 496
64 460
63 764
84 828
Organic service revenue growth (%)
2.5
0.5
1.4
-0.3
-0.1
EBITDA before other income and other expenses
13 059
12 856
37 221
37 418
49 162
Organic EBITDA growth (%)
2.5
-2.2
0.2
0.1
-0.2
EBITDA before other income and other expenses/Revenues (%)
45.9
46.9
44.6
45.6
44.6
Net income attributable to equity holders of Telenor ASA
1 549
2 642
7 006
942
1 528
Capex excl. licences and spectrum
4 088
4 014
13 013
12 077
17 942
Total Capex
4 267
4 025
15 948
14 323
22 345
Free cash flow before M&A
3 955
6 169
7 319
11 286
11 015
Total Free cash flow
5 211
7 182
9 657
13 138
12 668
Mobile subscriptions - Change in quarter/Total (mill.)
-2.6
1.8
172.4
172.1
172.2
Third quarter summary*
Total reported revenues were NOK 28.4 billion which is an increase of NOK 1.0 billion compared to the same period last year. Service revenues increased by 2.5% on an organic basis.
Reported opex increased by NOK 0.4 billion. Organic opex increased by NOK 0.5 billion.
Reported EBITDA before other items was NOK 13.1 billion which is an increase of 1.6%. Organic EBITDA increased by 2.5 percent.
Increase in energy cost of NOK 0.4 billion impacted EBITDA development negatively by 3 percentage points which was more than offset by one-time effect related to reversal of sim tax provision in Pakistan of NOK 0.6 billion following a High Court decision in favor of Telenor Pakistan.
Capex excluding licences and spectrum fees was NOK 4.1 billion, yielding a capex to sales ratio of 14 percent.
Net income attributable to equity holders of Telenor ASA was NOK 1.5 billion for the quarter. Net income was impacted by currency losses of NOK 2.4 billion mainly as a result of strengthening of USD against NOK.
Total free cash flow was NOK 5.2 billion for the quarter, of which NOK 4.0 billion was before M&A.
The leverage ratio decreased to 2.1x from 2.2x at the end of the previous quarter mainly as free cash flow more than compensated for negative currency effects.
* Please refer to page 29 in the quarterly report for definitions and descriptions of alternative performance measures.
Media contact
David Fidjeland Director, Media Relations
Telenor Group
More from Telenor Digital Services and Broadcast
05/07/2024
4 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
In June, Telenor established...
24/06/2024
1 minute read
Share
alt=Bl tt logo p m rkebl bakgrunn class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
It is with great sadness ...
18/06/2024
2 minute read
Share
alt=Alternative descriptive text class=lazyload main ...
14/06/2024
6 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
Norwegian businesses and pub...
23/05/2024
7 minute read
Share
alt=Telenor Group's Board of Directors has appointed Benedicte Schilbred Fasmer as new President & CEO class=lazyload main main-l...
30/04/2024
6 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
Telenor showed good momentum...
15/04/2024
1 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
Tone Hegland Bachke, Executi...
22/03/2024
1 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
Our digital lives are becomi...
19/03/2024
5 minute read
Share
alt=Telenor, Hafslund and HitecVision announces 2.4 b...
14/03/2024
8 minute read
Share
alt=Alternative descriptive text class=lazyload main ...
26/02/2024
6 minute read
Share
alt=Alternative descriptive text class=lazyload main ...
26/02/2024
4 minute read
Share
alt=Alternative descriptive text class=lazyload main ...
07/02/2024
8 minute read
Share
Presentation & report
Webcast
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb...
06/02/2024
5 minute read
Share
alt=Alternative descriptive text class=lazyload main ...
06/02/2024
5 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
(Antarktis, 6. februar 2024)...
14/12/2023
3 minute read
Share
alt=Alternative descriptive text class=lazyload main ...
11/12/2023
7 minute read
Share
Safeguard
Safeguard
Safeguarding planet, people and data in the digital world and beyond
Safeguard means that Telenor constantly ...
30/11/2023
7 minute read
Share
In a step towards advancing the realm of artificial in...
20/11/2023
5 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
In 2020, Telenor launched Mi...
16/11/2023
4 minute read
Share
alt=Dag St lan (CEO Space Norway), Jan Christian Vestre (Norwegian Minister of Trade and Industry) and Dan Ouchterlony (EVP and Head ...
25/10/2023
4 minute read
Share
Presentation & report
Webcast
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb...
22/09/2023
7 minute read
Share
alt=Foto: TSFotoDesign/Tanja Skoglund class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
Foto: TSFotoDesign/Tanj...
22/08/2023
6 minute read
Share
Telenor is implementing changes to the Group Leadership Team, as the company continues to execute on the strategic ambitions towards 2...
10/08/2023
2 minute read
Share
--
Fornebu, 10 August 2023 - Telenor announces that all shares in software company Working Group Two will be acquired by the global...
20/07/2023
3 minute read
Share
Presentation & report
Webcast
In the second quarter we continue to execute on the strategy we laid out last year, seeing firm ope...
10/07/2023
5 minute read
Share
alt=Photo people class=lazyload main main-lazyloaded ...
03/07/2023
4 minute read
Share
alt=Alternative descriptive text class=lazyload main ...
26/06/2023
15 minute read
Share
As part of our commitment to reduce our carbon emissions, we have a responsibility to also examine our value chains. At Telenor, we a...
19/06/2023
6 minute read
Share
(Oslo, 19 June 2023) The criteria for security and sus...
05/06/2023
3 minute read
Share
alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10>
Thomas Midteide is appointed...
31/05/2023
7 minute read
Share
In Kolding and Vejle Municipality, near the villages of Viuf and H strup, Better Energys brand-new solar park is on the way as the two...
23/05/2023
3 minute read
Share
Telenor has completed its internal learning process after the exit from Myanmar, yielding valuable lessons on responsible disengagemen...
10/05/2023
5 minute read
Share
The Corporate Assembly for Telenor ASA has in its meeting on 10 May 2023 elected Jens Petter Olsen as Chair of the Board of Directors,...
04/05/2023
5 minute read
Share
Presentation & report
Webcast
Today, Telenor reports its results for the first quarter of 2023.
I'm pleased to see that we ...
28/04/2023
5 minute read
Share
Everyone should be able to perform their jobs safely. Telenor Asia's Head of Health, Safety and People Security shares how he tack...
11/04/2023
1 minute read
Share
Frank Maa has been appointed Senior Vice President Ca...
28/03/2023
2 minute read
Share
Annual Report 2022
Telenor's Annual Report for 2022 covers financial statements, sustainability reporting, an overview of 20...
16/03/2023
7 minute read
Share
Cisco and Telenor Group executives celebrate the fifth...
08/03/2023
7 minute read
Share
Three women who are working on some of the most important priorities for Telenor Asia tell us how they have stepped into leadership ro...
08/03/2023
7 minute read
Share
Three women who are working on some of the most important priorities for Telenor Asia tell us how they have stepped into leadership ro...
08/03/2023
7 minute read
Share
Empowering Societies Digital skills Include Inclusion Grameenphone
Grameenphone and Plan International Bangladesh join hands...
07/03/2023
9 minute read
Share
Writer: Mindy Tan
View original article on The Busine...
01/03/2023
11 minute read
Share
dtac Telenor Asia
When Telenor made its foray into Thailand in 2003 through its investment in dtac, the company's vision was ...
01/03/2023
5 minute read
Share
Today, Telenor Asia announces the completion of the amalgamation of the telco operations of True and dtac in Thailand. The transaction...
14/02/2023
7 minute read
Share
Download the full Year in Review - 2022
Message from Head of Telenor Asia, J rgen C. Arentz Rostrup:
2022 marked a significant turn...
02/02/2023
7 minute read
Share
The quarter represents significant progress on our new strategic roadmap towards 2025. Mobile service revenues in Telenor Nordics inc...
01/02/2023
2 minute read
Share
(Fornebu, 1 February 2023) Telenor today closes the transaction to divest 30 percent of newly established Telenor Fiber AS, in Norway ...
31/01/2023
11 minute read
Share
View report highlights
Downloads
Report pdf
Info...
30/01/2023
9 minute read
Share
Download full report PDF
Survey Findings (Infographics) PDF
Read the press release
From virtual worlds to real-life communitie...
12/01/2023
3 minute read
Share
Dtac and True have today held separate board meetings regarding the ongoing merger process between the companies. The boards of direct...