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 ...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
02/05/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
01/04/2026
January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION
Douyin Users Can Now Create And Share Videos With Stun...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/03/2026
How Chris Bolte Builds the Sound of PlayStation Games Chris Bolte '16 is a technical sound designer at Sucker Punch Productions, where he helps create the...
18/03/2026
Newly named chief product officer (CPO), Larissa G rner Meeus will return to Net Insight on May 4.
Larissa G rner Meeus will become CPO of Net Insight on May 4...
18/03/2026
SVG Europe's The Football Summit 2026 explored how the sports broadcasting i...
18/03/2026
The 2026 NAB Show kicks off one month from today and SVG is once again set to cover the show from every angle. SVG's SportsTech@NAB Show Blog is now live - ...
18/03/2026
(L-R) The cast and crew of Dead Lover at The Ray Theater for its premiere at the 2025 Sundance Film Festival. (Photo by Robin Marshall/Shutterstock for Sundan...
18/03/2026
Yamaha C7 captured in Nashville
Wiltone Productions have announced the release of Music Row Piano, a deeply sampled Yamaha C7 piano library that's been ...
18/03/2026
Bass-enhancement plug-in upgraded
Along with a steady stream of new releases, Techivation have recently been revisiting some of the older plug-ins in their ...
18/03/2026
Mix-reference plug-in overhauled
iZotope's powerful mix-referencing plug-in has just reached its third major version, and now boasts a new capture proce...
18/03/2026
Latest EZKeys 2 expansion arrives
Toontrack's staggering collection of EZKeys 2 expansions has grown once again, and the latest instalment delivers a on...
18/03/2026
Jess Ho explores the politics of food in new SBS Audio podcast For The Culture
18 March, 2026
Media releases
New SBS Audio podcast For The Culture, hosted ...
18/03/2026
Future-ready broadcasts with ATSC 3.0 and enhanced services from Rohde & Schwarz...
18/03/2026
London Calling - When The Industry Convened to Help Streaming Find its MoJo In this blog, Laura Rognoni reflects on key discussions from the Connected TV World...
18/03/2026
SMPTE Unveils 2026 NAB Show Educational Presentations
Brie Clayton March 18, 2026
0 Comments
SMPTE , the home of media professionals, technologists, a...
18/03/2026
Auditel Ad Campaign Shot on Blackmagic PYXIS 12K
Brie Clayton March 18, 2026
0 Comments
LED wall virtual production blends 12K open gate acquisition w...
18/03/2026
Brainstorm transforms productivity and sustainability with Suite 7 at NAB Show 2...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/03/2026
SMPTE , the home of media professionals, technologists, and engineers, today unveiled its educational presentations for the 2026 NAB Show. This year SMPTE will ...
18/03/2026
Maxon, maker of powerful, approachable software solutions for creators working in 2D and 3D design, motion graphics, visual effects, gaming, and more, today ann...
18/03/2026
Digital Alert Systems
Preview
2026 NAB Show
April 19 - 22
Booth C3452
At the 2026 NAB Show, Digital Alert Systems will showcase Version 6.0 of its DASDEC ...
18/03/2026
Setplex today announced that it will showcase its complete, fully integrated Zapflex platform for the first time at the 2026 NAB Show, introducing powerful new ...
18/03/2026
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE ...
18/03/2026
COW Jobs: Seeking DP for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Director of Photography for Low Budget Dramedy Fe...
18/03/2026
COW Jobs: Seeking Gaffer for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Gaffer for Low Budget Dramedy Feature Film- I...
18/03/2026
COW Jobs: Seeking Location, Sound for Low Budget Dramedy - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Location/Sound for Low Budget Dramed...
18/03/2026
COW Jobs: Seeking Child Wrangler for Low Budget Film - Chicago
Brie Clayton March 17, 2026
0 Comments
Seeking Child Wrangler for Low Budget Dramedy Fe...
18/03/2026
Calrec Redefines Broadcast Workflows at NAB 2026 with its Most Powerful Hardware...
18/03/2026
Oscar Nominated Two People Exchanging Saliva Posted with DaVinci Resolve Studio
Brie Clayton March 17, 2026
0 Comments
DaVinci Resolve Studio handle...
18/03/2026
Boston Conservatory Presents Celebrated Musical Satire Urinetown Performances for this Center Stage production will take place at Boston Conservatory Theater ...
18/03/2026
Charlie Puth Joins Switched on Pop at Berklee NYC The Berklee alum spoke with host and Berklee NYC professor Charlie Harding for a live taping, answering audi...
18/03/2026
X-Rite Pantone Demonstrates Advanced Color Management Solutions to Support Smart...
18/03/2026
Wednesday 18 March 2026
BAFTA winner James McAvoy to star in Sky Original serie...
18/03/2026
Wednesday 18 March 2026
Sky Sports and Zuffa Boxing announce multi-year agreement for the UK and Ireland
Sky Sports and Zuffa Boxing have announced a new mult...
18/03/2026
Wednesday 18 March 2026
Sky Unveils Poster and Trailer for Original Feature Fil...
6 minute read 
