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 ...

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...

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...

27/08/2026

Gracenote's first DSP integration brings show-level content intelligence to The Trade Desk

Advertisers gain granular CTV targeting and turnkey reporting across eligible in...

27/08/2026

Boland Debuts ST 2110 Option for its 4K HDR Monitors

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Adele Hixon-Day Joins C-SPAN as Chief Development Officer

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Profuz Digital presents intelligent AI workflow orchestra...

Profuz Digital makes a mark by launching a powerful upgrade to its Profuz LAPIS digital media management platform this IBC in Amsterdam at Stand 8.A88. The late...

27/08/2026

DHD to Introduce its Third-Generation Audio Mixing Consol...

DHD.audio has chosen IBC 2026 as the launch venue for what it defines as one of the most radical advances in the companys 30 year history. Every broadcast trad...

27/08/2026

FOR-A integrates with CuePilot for dynamic automated prod...

Direct connectivity between planning, production and graphics for creativity and streamlined workflows...

27/08/2026

New Photoshop innovations bring you more choice and control at every stage of your creative process

New Photoshop innovations bring you more choice and control at every stage of yo...

27/08/2026

First Two Seasons of Vertical Series Vultures Shot on Blackmagic Design Cameras

First Two Seasons of Vertical Series Vultures Shot on Blackmagic Design Cameras Brie Clayton August 27, 2026 0 Comments Director and DoP of Vultures ...

27/08/2026

3Play Media data shows audiences are embracing AI dubbing

For years, the media and entertainment industry has hesitated to use AI-voiced dubbing due to concern for audience experience. New data from 3Play Media, a glob...

27/08/2026

Starfish adds voice synthesis support to Advantage AD in...

Starfish Technologies has announced the forthcoming V9 release of its Advantage AD workstation, adding support for voice synthesis services and giving Audio Des...

27/08/2026

Lightware UBEX Helps Rental Teams Deploy Faster And Saf...

Lightware's UBEX is a powerful AV-over-IP product well suited for rental and staging workflows where systems must be fast to deploy, easy to repurpose, and ...

27/08/2026

Lightware extends TPN platform to 100 endpoints with TPN-...

Lightware has expanded the scalability of its 10G TPN AV-over-IP platform with the introduction of the new TPN-MMU-X100 Matrix Management Unit, enabling systems...

27/08/2026

Federal Appeals Court Blocks Some FCC Political Ad Discount Rules

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Zixi To Demo Hybrid Workflows At IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Study: Americans Spend More Time Watching YouTube Than Live TV

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

Magewell To Highlight Newly Released Director Plus At IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

27/08/2026

PlayBox Neo continues to shape the media landscape by ini...

PlayBox Neo Stand 7.C29 IBC2026 - 11 14 September Well-established global specialists in media playout, automation, and streaming solutions, PlayBox Neo ...

27/08/2026

Rise Academy Invites the Industry to Join Race 4 The Futu...

Rise Academy, the broadcast and media skills charity dedicated to delivering practical media technology learning experiences, careers resources and work experie...

27/08/2026

Mediagenix Takes Title Management Beyond the Catalog at I...

Mediagenix, a global leader in smart content solutions to profitably connect the right content to the right audience, will showcase the latest evolution of its ...

27/08/2026

Screen Australia opens applications for Global Fellowships Program

Screen Australia opens applications for Global Fellowships Program 27 August 2026 Applications are now open for the Screen Australia Global Fellowships progra...

27/08/2026

Exciting updates for Sneaky Sasquatch come to Apple Arcade - UPDATE - Posted on 27 August 2026

More Sasquatch, more fun: Today, the sneakiest crossover of the summer lands exc...

27/08/2026

New RT KIDS short film explores friendship, courage and community

Commissioned for RT KIDS as part of the EBU Kids' Drama Exchange The Note will premiere Sunday August 30, 5:10pm RT One and RT Player The Note tells a...

27/08/2026

Dolby Laboratories Announces Leadership Transition

August 27 2026, 06:00 (PDT) Dolby Laboratories Announces Leadership Transition Kevin Yeaman to Retire from Dolby Marc Whitten Named President, Chief Exe...

27/08/2026

GeForce NOW Gives Gamers More Ways to Play at Gamescom 2026

NVIDIA's Gamescom announcements are revealing what's next for GeForce NOW, with new ways to play, more supported devices and platforms, and even more bi...

26/08/2026

New Validation Booster FAQ: What applicants need to know

Applicants interested in the Media Innovation Europe 3.0 Validation Booster call can now consult a new FAQ document addressing practical questions raised during...

26/08/2026

NWSL Moves Sunday Night Package to Roku, Expands Slate to 25 Matches in 2027

Roku Sports Channel will stream eight matches free beginning Aug. 30 as league shifts Sunday-night games away from Victory+...

26/08/2026

Inside Mountain Media Center's Hybrid-Cloud Architecture for Live Event Production

Evertz and Mobile TV Group detail how on-premises infrastructure and cloud resou...

26/08/2026

IBC 2026: Sennheiser Group to Showcase Broadcast Audio Portfolio

The Sennheiser Group will demonstrate its broadcast audio portfolio at IBC2026 (Hall 8, Booth D50), covering wireless microphone workflows, studio monitoring, a...

26/08/2026

Appear and TVTEL Deploy X20 Platform for Centralized VAR Signal Transport in Chile

Appear and Transmisiones Televisivas TVTEL Limitada have announced the deploymen...

26/08/2026

Minitech Adds Leader LPX500 and LT4670 to Rental Inventory

Leader Electronics has announced that Danish broadcast rental company Minitech has purchased a Leader LPX500 hybrid IP/SDI waveform monitor and LT4670 sync puls...

26/08/2026

IBC 2026: Encompass to Showcase Cloud Media Services

Encompass will demonstrate its Altitude media services at IBC2026 (IAMT Hub, Diamond Lounge, Hall 3, RAI Amsterdam, September 11-14). Key products on show incl...

26/08/2026

Massillon Washington High School First to Implement Daktronics Camino Platform

Daktronics has partnered with Massillon Washington High School in Ohio to install a new LED video display and implement the Daktronics Camino show control platf...

26/08/2026

Clear-Com Appoints Venuetech as Middle East Partner

Clear-Com has appointed Dubai-based Venuetech LLC as its main partner for the Middle East. Venuetech distributes professional audiovisual solutions across the r...

26/08/2026

NBC Sports NOW Debuts Two New Shows Beginning August 31

NBC Sports NOW, NBC Sports' free 24/7 streaming channel, will launch a new weekday lineup beginning Monday, August 31, including two new shows. Not So Fast...

26/08/2026

IBC 2026: Calrec to Preview ImPulseV and Argo Updates

Calrec will demonstrate updates to its ImPulseV DSP software and Argo ecosystem at IBC2026 (Stand 8.C47), including previews aligned with the EBU's Dynamic ...

26/08/2026

IBC 2026: Imagine Communications to Showcase AI Capabilities

Imagine Communications will demonstrate AI applications across its ad tech and video infrastructure portfolios at IBC2026 (Stand 1.B73, RAI Amsterdam, September...

26/08/2026

IBC 2026: Dalet to Showcase AI and Workflow Automation

Dalet will demonstrate updates to Dalet Flex, Dalet Pyramid, and Dalia, its agentic AI platform, at IBC2026 (Hall 7, Stand 7.A43). The company will also partici...

26/08/2026

Nashville Predators Tap ViewLift for New DTC Service, Pairing Streaming With Scripps Sports Broadcast Deal

Team-owned platform will stream every locally carried Predators game beginning t...

26/08/2026

Little League Baseball World Series 2026: ESPN Restores RailCam Coverage at Lamade Stadium, Upscales Cameras at Volunteer Stadium

The 12-day tournament receives the broadcaster's full onsite-studio presence...

26/08/2026

SOMA Laboratory launch the Enigma

A synth with no controls? If you're into weird and wonderful instruments, then you may already be familiar with Warsaw-based SOMA Laboratory - if you...

26/08/2026

Dreamtonics unveil Instrument X

Physical modelling orchestral instrument announced Following their recent cryptic hints, Dreamtonics have officially revealed the latest addition to their s...

26/08/2026

Bertram Brossardt visits SGL Carbon in Meitingen

Discussions at the Meitingen site on competitiveness, energy supply, and fuel cell technology Bertram Brossardt, CEO of the Bavarian metal and electrical emplo...

26/08/2026

Rohde & Schwarz USA celebrates grand opening of new manufacturing center in Frederick, Maryland

Rohde & Schwarz USA celebrates grand opening of new manufacturing center in Fred...

26/08/2026

Designing Agentic Media Workflows Humans Can Trust

For large media companies, the content archive is a gold mine. There are thousands of hours of existing, high-value assets just waiting to be tapped for highlig...

26/08/2026

Major Live Sports Events Bolster Broadcast in Nielsen's Q2 2026 Ad Supported Gauge

Ad Supported Viewing Represents 71.5% of TV in Q2 Streaming Captures Over 48% o...

26/08/2026

DAZN Accelerates U.S. Expansion with Acquisition of EverPass Media

Share Copy link Facebook X Linkedin Bluesky Email...