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...

25/06/2026

Mobile Television Group Launches MTVG Full-Stack Production Platform

Share Copy link Facebook X Linkedin Bluesky Email...

25/06/2026

NAB Updates FCC on ATSC 3.0 Alerting Advances

Share Copy link Facebook X Linkedin Bluesky Email...

25/06/2026

Tegna Elevates Four Executives to Senior VP

Share Copy link Facebook X Linkedin Bluesky Email...

25/06/2026

June 24, 2026

Immune molecule may drive excessive drinking in alcohol use disorder Scripps Research scientists showed that blocking an immune molecule tied to inflammation r...

24/06/2026

NoiseWorks Audio add Mouth De-Click to VoiceAssist

Plus: VoiceAssist Basic now available to UA LUNA users NoiseWorks Audio have just released an update that adds a new Mouth De-Click module to the Advanced t...

24/06/2026

Gator introduce the Frameworks Studio Mic Boom 2000

New heavy-duty mic stand joins range The latest arrival to Gator's Frameworks family introduces a new heavy-duty boom stand that's been designed for...

24/06/2026

Waves V17 now available

Latest major plug-in update goes live Waves have just announced that the latest major update for their hugely popular plug-in range is now officially availa...

24/06/2026

Why Four Bars of Signal Doesn't Always Mean Good Performance

When assessing cellular coverage, many people look at the signal bars displayed on a smartphone, router or modem. More bars are often assumed to mean better per...

24/06/2026

Rohde & Schwarz THORIS sets new standard for counterUAS defense

Rohde & Schwarz THORIS sets new standard for counter UAS defense At Eurosatory 2026, Rohde & Schwarz is unveiling THORIS, a German engineered, sovereign count...

24/06/2026

Rohde & Schwarz expands voice communications modernization program for Egyptian air traffic control

Rohde & Schwarz expands voice communications modernization program for Egyptian ...

24/06/2026

Clear-Com FreeSpeak Cell Successfully Tested by RTL Deutschland in 5G Network at...

eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...

24/06/2026

Nielsen's Q1 2026 Ad Supported Gauge

Streaming sets record high of 46.6% of ad supported TV viewing, driven by Super Bowl and Winter Olympics; overall share of ad supported TV remains steady NEW Y...

24/06/2026

FCC Flooded with Nearly 28K Comments Regarding Its Probe of 'The View'

Share Copy link Facebook X Linkedin Bluesky Email...

24/06/2026

Hearst Television Brings Ad Addressability to Local Broadcast TV

Share Copy link Facebook X Linkedin Bluesky Email...

24/06/2026

FCC Raises $3.5 Billion in AWS-3 Wireless Auction

Share Copy link Facebook X Linkedin Bluesky Email...

24/06/2026

RE:Vision Effects Announces Twixtor Standalone v 8.1 and a Sale!

RE:Vision Effects Announces Twixtor Standalone v 8.1 and a Sale! Brie Clayton June 24, 2026 0 Comments Twixtor v8.1 Standalone adds support for variab...

24/06/2026

Dreamtek Uses Full Blackmagic Workflow for Vercel Next JS Event

Dreamtek Uses Full Blackmagic Workflow for Vercel Next JS Event Brie Clayton June 24, 2026 0 Comments Blackmagic cameras, switchers, routers, recorder...

24/06/2026

Chyron LIVE Unveils New Features: Haivision StreamHub Integration, SCTE-35 Ad Insertion, and Refined Switching Tools

Chyron LIVE Unveils New Features: Haivision StreamHub Integration, SCTE-35 Ad In...

24/06/2026

Mapping an Education

Mapping an Education How composer Chloe Clarke Smith navigated her Boston Conservatory experience and brought new meaning to her work June 24, 2026 By Sara...

24/06/2026

The Next Act

The Next Act Dean Krisha Marcano's vision for a connected Theater Division, and the fund making it possible June 24, 2026 Photo by Eric Antoniou The Or...

24/06/2026

Announcing STAGES Magazine 2026

Announcing STAGES Magazine 2026 Marking a decade since Boston Conservatory and Berklee College of Music joined forces, this issue spotlights some of the groun...

24/06/2026

Rede Legislativa Chooses Appear to Support Brazil TV Ver...

In Brazil's TV 3.0 Trials, Appear's X5 is transporting live signals from Bras lia to S o Paulo over the public internet using secure, reliable next-gene...

24/06/2026

Mediaproxy partners with HVS for US broadcast market

Melbourne, Australia - 24 June 2026: Mediaproxy, the global standard for software-based IP compliance monitoring and multiviewing solutions, has named Heartland...

24/06/2026

Gray Media Launches Political 360 Digital Advertising Solution

Share Copy link Facebook X Linkedin Bluesky Email...

24/06/2026

Walmart to Pay $1.4 Billion to Acquire Ad Tech Firm Vibe.co

Share Copy link Facebook X Linkedin Bluesky Email...

24/06/2026

FCC Flooded with Nearly 28K Comments on 'The View'

Share Copy link Facebook X Linkedin Bluesky Email...

24/06/2026

First Rush Brings SDI Multicam ProRes Recording to Apple Silicon Macs

First Rush Brings SDI Multicam ProRes Recording to Apple Silicon Macs Brie Clayton June 23, 2026 0 Comments First Rush is a native macOS application d...

24/06/2026

Vertical Drama Beneath Crimson Sails Created with Blackmagic Design

Vertical Drama Beneath Crimson Sails Created with Blackmagic Design Brie Clayton June 23, 2026 0 Comments Thunder Child Productions relies on cameras&...

24/06/2026

X-Rite Pantone Adds MSI PRO MAX Displays to Pantone Validated Program for Proven Color Fidelity for Real World Colors

X-Rite Pantone Adds MSI PRO MAX Displays to Pantone Validated Program for Proven...

24/06/2026

Dara Briain forms Dara's Dull Appreciation Society for U

24th June 2026, London: Dara Briain will host brand new comedy entertainment series Dara's Dull Appreciation Society (4x40') celebrating members of th...

24/06/2026

Sky reveals wild new trailer and images for Shaun the Sheep: The Beast of Mossy Bottom

Wednesday 24 June 2026 Sky reveals wild new trailer and images for Shaun the Sh...

24/06/2026

Seven paradoxes shaping the next era of media production - Episode 1

Why Dynamic Media Facilities Matter In this series, we explore the technologies, architectures and operational realities shaping modern media operations. Along ...

24/06/2026

Comscore Announces Partnership with Amazon DSP to Expand Content Addressability to Drive Campaign Performance

Comscore Announces Partnership with Amazon DSP to Expand Content Addressability ...

24/06/2026

RT is supporting 21 Arts and Cultural Events all over Ireland this July

From Cork to Limerick to Earagail: RT is supporting 21 Arts and Cultural Events all over Ireland this July RT Supporting the Arts is delighted to spotlight...

23/06/2026

Case Study: YES Networks IP Transition Expands Production Possibilities and Redefines Workflows

When we began planning our transition from an SDI-based infrastructure to a new ...

23/06/2026

Imagine Communications Appoints Greg Garmon as SVP, Americas Video Sales

Imagine Communications has announced the appointment of Greg Garmon as Senior Vice President, Americas Video Sales. Garmon will oversee account growth and busin...

23/06/2026

Snap Promotes Emma Wakely to Head of Sports and Media Partnerships, Americas

Snap has promoted Emma Wakely to Head of Sports and Media Partnerships, Americas, succeeding Anmol Malhotra, who has been elevated to Global Head of Content and...

23/06/2026

YES Network and Gotham Sports App to Air MI New York Major League Cricket Matches

YES Network and The Gotham Sports App will air MI New York's Major League Cr...

23/06/2026

HAND Issues Persistent Digital IDs to 2026 NBA Draft Class

The Universal Talent Identifier (HAND) has issued HAND IDs to 34 top projected prospects in the 2026 NBA Draft class, including AJ Dybantsa, Cameron Boozer, and...

23/06/2026

World Boxing Launches World Boxing TV Streaming Platform

World Boxing has announced the launch of World Boxing TV, a subscription-based streaming platform built on the Joymo platform, offering live events, on-demand c...

23/06/2026

FloRacing to Stream 32 Off-Road Motorcycle Racing Events Including AMA Amateur National Motocross Championship

FloSports will stream 32 off-road motorcycle racing events on FloRacing, includi...

23/06/2026

SES Adds 14 Regional Channels and New Set-Top Boxes to ASTRA TV in Spain

SES has announced the expansion of its ASTRA TV platform in Spain with the addition of 14 regional channels in HD and UHD quality and the launch of new hybrid s...

23/06/2026

Appear Supports Rede Legislativas Contribution Workflow for Brazils TV 3.0 Trials

Appear ASA has announced its role in Rede Legislativa de R dio e TV's contri...

23/06/2026

PBS Selects LTN for Nationwide IP Video Network Across 330 Member Stations

LTN has announced that PBS has selected it as its IP video partner to modernize content distribution and contribution across more than 330 public television sta...

23/06/2026

Ease Live Powers Interactive Experience on Rally.TV for WRC

Ease Live has announced that its graphics overlay platform is powering an interactive fan experience on Rally.TV, the official streaming platform of the FIA Wor...

23/06/2026

Chyron LIVE Adds Haivision StreamHub Integration, SCTE-35 Ad Insertion, and Switcher Updates

Chyron has announced updates to Chyron LIVE, its cloud-native live production pl...