
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
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
09/10/2026
September 10 2026, 06:00 (PDT) Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 2026
New Sports Intelligence helps providers better unders...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
22/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
21/09/2026
Manifold Technologies, developer of software-defined, FPGA-accelerated infrastructure for live production, has named Ryhaan Williams as Chief Commercial Officer...
21/09/2026
Studio Network Solutions (SNS) has won Best Journal Article at the 2026 IAMT Impact Awards for What Video Editors Need When Everything Is Changing Around Them,...
21/09/2026
Major League Wrestling (MLW) has announced a streaming distribution agreement with Tubi for its weekly series MLW FUSION. Beginning September 17, new episodes w...
21/09/2026
Disney Entertainment has announced that Adam Smith has been named Chairman, Direct-to-Consumer, with responsibility for Disney and Hulu including product, engi...
21/09/2026
United Airlines and DISH have announced an agreement to bring live professional ...
21/09/2026
SES and JioStar have announced a multi-year agreement under which SES will provide satellite distribution services for JioStar's television channel portfoli...
21/09/2026
The Detroit Red Wings have announced details for their inaugural season on Detro...
21/09/2026
Manifold Technologies has appointed Ryhaan Williams as Chief Commercial Officer for North America, effective October 1, 2026. Based in Jacksonville, Florida, Wi...
21/09/2026
Angels Broadcast Television (ABTV), the local television home of the Los Angeles...
21/09/2026
The 2026 US Open Tennis Championships marked a year of change with respect to TV...
21/09/2026
Behind The Mic provides a roundup of recent news regarding on-air talent, includ...
21/09/2026
Drum-tuning app now available on Android
RT60 describe their iDrumTune app as the world's most advanced, accurate and intelligent system for assisting ...
21/09/2026
Innovative multiband auto-panner introduced
SoundGhost's latest plug-in takes an innovative approach to auto-panning, and divides incoming signals into ...
21/09/2026
We check out the M5 Max-equipped model The same, but different. The new Mac Studio models feature M5 Max and M5 Ultra silicon, dramatically improving the perf...
21/09/2026
From Graphic Novel to 30-Minute Animated Film: What I Learned Building an AI-Ass...
21/09/2026
Liam Hopkins Builds Recording Studio with Blackmagic Design
Brie Clayton September 20, 2026
0 Comments
Video complements audio production with music v...
21/09/2026
Indigenous screen organisations from Canada, Aotearoa New Zealand and Australia ...
21/09/2026
Physical AI is moving rapidly from research to large-scale deployment. By 2035, ABI Research projects an installed base of 49 million level 3-5 autonomous vehic...
21/09/2026
Today, Egypt's AI builders gathered in the Grand Egyptian Museum for a reception that highlighted the nation's rapidly growing AI ecosystem - spanning A...
21/09/2026
Every AI factory needs power and cooling that fit its computing architecture. As AI infrastructure expands, power, cooling, water, site and grid constraints are...
21/09/2026
RT celebrates Irish Sign Language Awareness Week 2026
Special programmes across RT television, radio and online, plus special initiatives
#ISL #IDSL #IWDP26...
21/09/2026
AI security is an engineering problem. That means defined security requirements,...
21/09/2026
Clean energy isn't hard to come by, but the pace of large-scale adoption has historically been slow due to bottlenecks - including out-of-date infrastructur...
20/09/2026
Piano-playing singer-songwriter competition returns for fourth year
Casio have officially revealed the list of 16 finalists who have earned their place in t...
20/09/2026
COW Jobs: Video Editor, Motion Designer - Remote, PT, 6 Months
Brie Clayton September 20, 2026
0 Comments
Video Editor + Motion Designer (Remote | PT ...
19/09/2026
Three new rackmount power conditioners introduced
Yorkville Sound have announce the upcoming launch of three new RPC rackmount power conditioners from ART P...
19/09/2026
September 15, 2026
AMSTERDAM, SEPTEMBER 2026 - Colorfront (colorfront.com), the Academy and Emmy Award-winning developer of high-performance cinema mastering, ...
19/09/2026
Two High-Profile Professional Sports Franchises Renew creative.space Contracts with DigitalGlue
NFL team and Major League Soccer Club cite ease of use, secure ...
19/09/2026
Limited Edition Audio releases VoxSplit Pro for overlapping dialogue separation ...
18/09/2026
IBC 2026 Tech Moves Beyond the Gloss and Into the Rack If you spent any time in the halls of the RAI this year, you noticed a clear shift in conversation. The c...
18/09/2026
In-venue and creative video staffers at the professional and collegiate level ha...
18/09/2026
Qvest has appointed Jens Miedek as Senior Vice President Sales, Media and Entertainment. Before joining Qvest, Miedek spent 16 years at Riedel Communications an...
18/09/2026
Fonn Group has acquired full ownership of everviz, a cloud-native platform for interactive charts, maps, and data-driven graphics, and will rebrand it as Teikna...
18/09/2026
Other World Computing (OWC) has announced the acquisition of OpenDrives, a provider of software-defined video and rich media storage management solutions. The a...
18/09/2026
Kaltura and Verimatrix have announced a partnership integrating Verimatrix's Digital Rights Management and security capabilities into Kaltura's Cloud TV...
18/09/2026
The sixth edition of the World Nomad Games combined traditional sports, large-scale cultural performances, and some decidedly modern broadcast technology. Held ...
18/09/2026
DAZN and Super League Basketball (SLB) have extended their partnership for the 2026-27 season. Every Championship, Cup, and Play-Off fixture will be available l...