Sony Pixel Power calrec Sony

Improved Nordic mobile revenue trends

26/10/2022

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
LINK: https://www.telenor.com/media/newsroom/press-releases/improved-nordic-...
See more stories from telenor

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

06/09/2026

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

23/06/2026

PBS Selects LTN to Power Nationwide IP Video Network

Share Copy link Facebook X Linkedin Bluesky Email...

23/06/2026

PBS selects LTN for nationwide IP video network

LTN, a global leader in IP-based video transport and network services, today announced that PBS has selected LTN as its IP video partner to modernize and future...

23/06/2026

The LiveU Q Era Arrives in ANZ with the LU900Q at ABE2026

LiveU will introduce its Q Era to Australia and New Zealand for the first time at ABE2026 on Stand No. 25, (July 30 31). Leading the showcase is the LU900Q, a n...

23/06/2026

Miri Technologies Ships V410 Live 4K Video Encoder-Decode...

Miri Technologies Inc. has begun shipping its highly anticipated V410 live 4K video encoder/decoder for streaming, IP-based production workflows and AV-over-IP ...

23/06/2026

DHD SX2 and TX2 Consoles Go On-Air at Radio Tzafon

DHD audio reports the completion of an upgrade to the audio production facilities at the Galilee headquarters of Radio Tzafon. The station broadcasts two progra...

23/06/2026

Nagravision Launches Nagra Venturi Security Offering

Share Copy link Facebook X Linkedin Bluesky Email...

23/06/2026

ITN Expands Programmatic Local TV Platform

Share Copy link Facebook X Linkedin Bluesky Email...

23/06/2026

Warner Bros. Discovery Taps AWS for New AI-Powered Ad Tech

Share Copy link Facebook X Linkedin Bluesky Email...

23/06/2026

Study: Younger Viewers More Distracted But More Receptive to Ads

Share Copy link Facebook X Linkedin Bluesky Email...

23/06/2026

Chilevisin, ClaroVTR Tap Pixop for 4K FIFA World Cup Feed

Share Copy link Facebook X Linkedin Bluesky Email...

23/06/2026

Imagine Communications Names Greg Garmon as Senior Vice P...

Multifaceted Growth Executive Brings 20+ Years of Experience Leading Organizations Across Tech and M&E Imagine Communications today announced the appointment ...

23/06/2026

Australians in Film and Screen Australia's talent development initiative UNTAPPED returns for 2026

Australians in Film and Screen Australia's talent development initiative UNT...

23/06/2026

Visual Productions Unveils RdmRelay2 Four-channel Relay Control at InfoComm 2026

Visual Productions Unveils RdmRelay2 Four-channel Relay Control at InfoComm 2026 Brie Clayton June 22, 2026 0 Comments New Relay Solution Combines DMX, ...

23/06/2026

SMPTE Makes Its Standards Freely Accessible, Opening Standards Library to the Global Media Technology Community

SMPTE Makes Its Standards Freely Accessible, Opening Standards Library to the Gl...

23/06/2026

RT AND COMMUNITY FOUNDATION IRELAND ANNOUNCE RT TOY SHOW APPEAL GRANT AWARDS 2026

The RT Toy Show Appeal has raised over 31 million since its inception in 2020 ...

23/06/2026

NVIDIA Powers Over 400 of the World's 500 Fastest Supercomputers

News Highlights: NVIDIA technology runs 81% of the TOP500 and 90% of the systems new to the list. 26 systems on the TOP500 adopted the NVIDIA Grace CPU, up ei...

23/06/2026

How Businesses Are Building Specialized AI They Can Trust

Companies are asking how to build specialized AI that fits with the way their workflows actually run. The first wave of enterprise AI was about access. Compan...

23/06/2026

June 22, 2026

Newly identified molecule strengthens the eye's response to damage in retinal disease Scripps Research discovery finds that restoring the naturally occurrin...

22/06/2026

Behind the Mic: SportsCenters Lisa Cohn to Retire This June From ESPN as Longest-Tenured Anchor

Behind The Mic provides a roundup of recent news regarding on-air talent, includ...

22/06/2026

Cosm Appoints David Ho as Chief Legal Officer

Cosm has announced the appointment of David Ho as Chief Legal Officer, a newly created executive role reporting to President and CEO Jeb Terry. Ho will oversee ...

22/06/2026

Warner Bros. Discovery and AWS Announce AI-Powered Advertising Technology Platform

Warner Bros. Discovery and Amazon Web Services (AWS) have announced the developm...

22/06/2026

Daktronics Completes Audio Control System Upgrade at Petco Park for San Diego Padres

Daktronics has completed an audio control system upgrade at Petco Park in San Di...

22/06/2026

Accelerate Media Names John Willi President, Launches Accelerate Sports Network

Accelerate Media has named John Willi as President and announced the launch of the Accelerate Sports Network (ASN), a prep sports media and streaming platform c...

22/06/2026

AWSN to Air 3XBA Womens Basketball Tournament Live June 26-27

All Women's Sports Network (AWSN) and 3XBA (3 3 Basketball Association) have announced live television coverage of the annual 3XBA tournament on Friday, Jun...

22/06/2026

OWL AI Appoints Jay Prasad as Chief Executive Officer

OWL AI has announced the appointment of Jay Prasad as Chief Executive Officer and member of the Board of Directors. Prasad succeeds Josh Gwyther, who has served...

22/06/2026

CP Communications Provides RF Support for Inside the NBA at 2026 NBA Finals

CP Communications delivered RF video and audio support for TNT's Inside the NBA at the 2026 NBA Finals, providing main show coverage in San Antonio and ea...

22/06/2026

Polymarket and GRID Partner to Integrate Esports Data and Streaming into Trading Platform

Polymarket has announced a partnership with GRID, an official esports data platf...

22/06/2026

SVG New Sponsor Spotlight: Metinteractive's Rachel Mele, Ken Cyr on Building Technology Backbones for Sports Venues

As sports venues continue to evolve into more video-centric, fan-engagement-driv...

22/06/2026

SVG All-Stars: Corbin Perkins, Chief Engineer, Victory+

As the regional sports production scene shifts toward streaming, this Texan helps lead the engineering behind Victory+'s growing live platform...

22/06/2026

Meet the 2026 Sundance Institute Documentary Edit Intensive Fellows

By Kristin Feeley, Director, Documentary Film & Artist Programs the memories of your elders [are] a scaffolding for you to build your identity on - and t...

22/06/2026

Blade joins CEDAR Audio Icons line-up

New hyper-resolution analyser EQ revealed CEDAR Audio's all-new Icons plug-in series has just gained its newest member, Blade. Described by the compan...

22/06/2026

Sampleson release Aeronaut

Turn any live input into a cinematic soundscape Designed for use in the studio and on stage, Sampleson's latest creation is capable of taking any audio ...

22/06/2026

ADDAC System's new Four Strings Series

Adds guitar strings to Eurorack rigs ADDAC System are renowned for their weird and wonderful synth designs, and their line-up includes plenty of gear that&#...

22/06/2026

FIFA World Cup 2026 fever grows, as more than one third of Australians tune in to SBS coverage

FIFA World Cup 2026 fever grows, as more than one third of Australians tune in ...

22/06/2026

NAGRA Venturi - Turning Piracy Intelligence into Measurable Business Impact

In our latest blog, Tim Pearson explores NAGRA Venturi, the new streaming security solution for the AI era from NAGRAVISION. Designed to aggregate and analyze ...

22/06/2026

Xumo Expands Contextual Targeting Capabilities Through Gracenote and IRIS.TV Integrations

Expanded integrations give advertisers access to distinct contextual signals acr...

22/06/2026

Greg Garmon Joins Imagine as Senior VP, Americas Video Sales

Share Copy link Facebook X Linkedin Bluesky Email...

22/06/2026

Kaleidescape Breaks the 8K and 4:4:4 Barriers

Share Copy link Facebook X Linkedin Bluesky Email...

22/06/2026

Xilica introduces Dynamic Voice Lift in new Designer

Xilica today announced the release of Dynamic Voice Lift, a new feature in Xilica Designer v4.12 that brings adaptive speech reinforcement to large meeting spac...

22/06/2026

NVIDIA Brings Trusted, 24/7 AI Agents to Telecom Operations

Telecom operators have seen remarkable returns from using generative AI to automate network management, customer care and back-office operations. Most of that i...

22/06/2026

Official trailer released for Katie Price: Nothing to Hide, coming to Sky and NOW on 8 July

Monday 22 June 2026 Official trailer released for Katie Price: Nothing to Hide,...

22/06/2026

Eco Wave Power Turns Waves Into Watts With NVIDIA AI Infrastructure and Digital Twins

The next era of AI will not be defined by compute alone. Its growth will be dete...

22/06/2026

NVIDIA Vera CPU Opens the Way for Agentic Scientific AI at Los Alamos National Laboratory

Mission, Vision and Veritas - new Los Alamos National Laboratory (LANL) supercom...

22/06/2026

From Materials Simulation to Experimental Astronomy, New NVIDIA AI Software Unlocks Scientific Discoveries

At the ISC conference running in Hamburg this week, NVIDIA is introducing new so...

22/06/2026

NAIRR Science Program Reshapes Scientific Research, Powered by NVIDIA AI Infrastructure

For the past two years, the U.S. National Science Foundation's National Arti...

22/06/2026

At ISC, JUPITER Shows What Exascale Science Looks Like

JUPITER, Europe's first exascale supercomputer at Germany's Forschungszentrum J lich, runs on NVIDIA Grace Hopper Superchips and NVIDIA Quantum-X800 Inf...