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 ...

09/10/2026

Dolby Expands Dolby OptiView Platform with New Capabilities at IBC 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 Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...

10/09/2026

First AI-Generated Golf Announcer To Debut During New Mexico Open

Duff Foreman is an AI-generated announcer who will add color to this month's New Mexico Open...

10/09/2026

IBC 2026: Bitmovin Rolls Out Encoder Version 3

Bitmovin is rolling out Encoder Version 3, the next major release of the technology behind its VOD and Live Encoders. Version 3 is built on a premise every stre...

10/09/2026

IBC 2026: Net Insight Highlights Open Live Media for Controlled Live Services

At IBC2026, on booth 1.B47, Net Insight will showcase Open Live Media, its architecture for delivering resilient live media services across networks, partners, ...

10/09/2026

PWHL, Scripps Sports Sign National Television Deal for 2026-27 Season

The Professional Women's Hockey League (PWHL) and Scripps Sports have announced a national broadcast rights agreement for the 2026-27 season, a landmark par...

10/09/2026

IBC 2026: Trusted Partner Network Debuts Fix It or Risk It to Tackle Everyday Security Risks

The Trusted Partner Network (TPN), the global content security initiative powere...

10/09/2026

NFL Brings Back Creator Programs to Deliver Access, Original Storytelling During the 2026 Season

The NFL is launching its most expansive creator programming yet, bringing togeth...

10/09/2026

Sportsnet Removes 150 Blackouts for More National NHL Games Than Ever in 2026-2027 Season

Sportsnet is set to deliver its biggest hockey season ever with a national sched...

10/09/2026

IBC 2026: LiveU Showcases Starlink for News and Sports Broadcast as Clarus Integrated Reseller

LiveU is now a Clarus Integrated Reseller, bringing Starlink's fast, reliabl...

10/09/2026

IBC 2026: Mimir Develops Single Layer for Content, Metadata, AI Orchestration

Mimir is the cloud-native media production platform built for teams that need to move media fast across live, archive, web, social, and broadcast workflows. At ...

10/09/2026

IBC 2026: ATSC 3.0 To Receive Technology & Engineering Emmy Award for Significant Advancement in Television Broadcasting

ATSC is being honored with a 2026 Technology & Engineering Emmy Award by the Nat...

10/09/2026

Audio-Technica Presents BP880R Contact Transducer for Immersive Sports Broadcast, Production Audio Enhancement

Audio-Technica has introduced the BP880R Contact Transducer, a specialized micro...

10/09/2026

ESPN, ION Team Up to Broadcast WTGL Starting on Nov. 8

TMRW Sports in partnership with the LPGA, today announced multiyear U.S. media rights agreements with ESPN and Scripps Sports/ION to bring WTGL, the new women&#...

10/09/2026

SportsNet Pittsburgh Honors Roberto Clemente Day With Second-Annual Live Spanish-Language Pirates Telecast

SportsNet Pittsburgh (SNP) in partnership with Major League Baseball and the Pit...

10/09/2026

Tennis Channel Gives Fans Options With Premium Subscription on Roku

Tennis Channel announced today its launch as a Premium Subscription on The Roku Channel. Tennis Channel offers viewers a single home for Tennis Channel and Ten...

10/09/2026

IBC 2026: Dolby Expands Dolby OptiView Platform With New Capabilities

Dolby has announced major updates to Dolby OptiView, its live sports platform, ahead of IBC 2026. The updates include new AI-powered intelligence to better unde...

10/09/2026

Dalet Names Brian Doheny as CEO

Dalet has appointed Brian Doheny as CEO. Doheny joined Dalet as President and Chief Revenue Officer in April 2026. Since joining Dalet, Doheny has led the compa...

10/09/2026

IBC 2026: Sony Demonstrates Various Creative Solutions for Attendees at the RAI

Sony, as well as its partner company Nevion, is starting IBC 2026 with a handful of announcements for attendees to see on the show floor. Sony Announces the 4t...

10/09/2026

SoFi Stadium Solidifies Production Output With Multi-Layered Tech Renovation

The six-year-old venue is expanding capabilities for NFL action, Super Bowl LXI, 2028 Summer Olympics SoFi Stadium, as well as the surrounding area known as Ho...

10/09/2026

Acon Digital introduce Acoustica 8

Editing, restoration & mastering suite upgraded Acon Digital Acoustica 8 audio editing restoration mastering software. Acon Digital have just launched the la...

10/09/2026

Readipop & XOX open XOX Studio

Classic synths & drum machines available to play Based in Reading, UK, Readipop are a music and arts charity with a long track record of innovative, partici...

10/09/2026

Neumann launch the KH 310 II & KH 350

Popular model updated & new addition introduced With many of the models in Neumann's KH family now boasting onboard DSP and support for the company'...

10/09/2026

Arturia launch the AudioFuse Studio Rev2

Improved desktop interface announced The latest iteration of Arturia's flagship desktop audio interface has just arrived, introducing improved preamps, ...

10/09/2026

Progress needs proof: Rohde & Schwarz showcases its trailblazing test solutions at EuMW 2026 in London

Progress needs proof: Rohde & Schwarz showcases its trailblazing test solutions ...

10/09/2026

Nielsen launches CTV ad spend data into its French Ad Intel product

France launch follows UK and Germany as Nielsen expands product across EMEA Paris, France, September 10, 2026 - Nielsen, a global leader in audience measuremen...

10/09/2026

Fabric Data, TMT Insights Merge to Create Fabric Insights

Share Copy link Facebook X Linkedin Bluesky Email...

10/09/2026

Leading Audio Manufacturers Join Forces on Dialog Intelli...

Leading professional audio manufacturers NUGEN Audio, RTW, Steinberg and Telos Alliance have joined forces with Fraunhofer IDMT to establish a common approach t...

10/09/2026

Setplex Introduces AI Insider for Faster Smarter Video Se...

Built Into Setplex's Zapflex Platform, AI Insider Turns Video Service Data Into Actionable Insights Setplex today introduced AI Insider, a breakthrough new...

10/09/2026

sync labs to Introduce sync productions at IBC2026 Bringi...

Managed service changes dialogue without actor-specific training or facial rigging while preserving the original performance and fitting established post-produc...

10/09/2026

ACT Pixel Academy Autumn Courses PR

The ACT Entertainment tvONE and Green Hippo Pixel Academy has released its autumn course schedule, with hands-on training dates in September, October and Novemb...

10/09/2026

Orange Polska Reaffirms Its Trust in Viaccess-Orca with M...

Orange Polska continues to Rely on Viaccess-Orca for Secure TV Services and the Next Phase of its Technology Evolution Viaccess-Orca (VO), a global leader in T...

10/09/2026

Generate and create directly in your timeline with new AI-powered innovations in Premiere and After Effects

Generate and create directly in your timeline with new AI-powered innovations in...

10/09/2026

Tedial to introduce Media Business Hub at IBC 2026

Tedial is introducing Media Business Hub (MBH) at IBC 2026, a new business enablement platform designed to help media organizations unlock the full value of the...

10/09/2026

Globecast Unveils Next Phase of Media Orchestration at IB...

Globecast, a leading provider of broadcast, media and entertainment managed services, will unveil the next phase of its transformation at IBC2026 with a preview...

10/09/2026

Fabric Data and TMT Insights Merge to Create Fabric Insig...

Fabric Data and TMT Insights today announced that the two companies are combining to create Fabric Insights, uniting authoritative data, purpose-built software,...

10/09/2026

Operative Launches Unified Platform to Transform Advertis...

Operative, the preferred advertising and broadcast management provider for the world's leading media brands, today announced a comprehensive slate of new pr...

10/09/2026

Leader announces new Sx2 handheld Test and Measurement se...

Test & measurement innovator, Leader Electronics of Europe, has announced the launch of its latest range of handheld signal generation, analysis and monitoring ...

10/09/2026

Kiloview Partners with Zixi to Deliver Reliable IP Video...

The partnership begins with native Zixi protocol support on the Kiloview D350 and will extend to deeper product integration and joint go-to-market initiatives ...

10/09/2026

Avid and FilmLight announce strategic partnership to reimagine the color pipeline for post production

Avid and FilmLight announce strategic partnership to reimagine the color pipelin...

10/09/2026

Maxon Brings Exclusive Preview of Fall Innovations to IBC2026

Maxon Brings Exclusive Preview of Fall Innovations to IBC2026 Brie Clayton September 10, 2026 0 Comments IBC attendees will get the first look at new ...

10/09/2026

Three Boston Conservatory Dance Alums Honored for Their Early-Career Promise

Three Boston Conservatory Dance Alums Honored for Their Early-Career Promise India Hobbs and Demetrius Lee received Princess Grace Awards, while Lilly David t...

10/09/2026

MonoNeon Returns to Berklee to Kick Off Signature Series

MonoNeon Returns to Berklee to Kick Off Signature Series The Grammy-winning bassist and alumnus performs with students and faculty from the Planet MicroJam In...

10/09/2026

Study: NFL Ad Revenue to Hit a Record $6.3 Billion

Share Copy link Facebook X Linkedin Bluesky Email...

10/09/2026

Teradek Unveils Bolt 7 With 900MHz RF Pipeline

Share Copy link Facebook X Linkedin Bluesky Email...

10/09/2026

Survey: Roku Remains Most Popular Streamer

Share Copy link Facebook X Linkedin Bluesky Email...

10/09/2026

Sony Unveils Fourth Generation Of DWX Wireless Mics

Share Copy link Facebook X Linkedin Bluesky Email...

10/09/2026

Scripps Revamps Local Media Regional Leadership Structure

Share Copy link Facebook X Linkedin Bluesky Email...