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 ...

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...

01/06/2026

Dolby Sets the New Standard for Premium Entertainment at CES 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 Flex LTS Delivers Smarter Search, Faster Editing, and an AI-Ready Foundation for Modern Media

Dalet, a leading technology and service provider for media-rich organizations, t...

01/05/2026

NBCUniversal's Peacock to Be First Streamer to Integrate Dolby's Full Suite of Premium Picture and Sound Innovations

January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...

11/04/2026

Sachtler Highlights Comprehensive Camera Support Solutions at NAB 2026

Sachtler Highlights Comprehensive Camera Support Solutions at NAB 2026 Brie Clayton April 11, 2026 0 Comments Sachtler showcases advanced camera suppo...

11/04/2026

Sohonet Launches Media Fabric: A Unified Managed Infrastructure Suite for Film, Television and Post-Production

Sohonet Launches Media Fabric: A Unified Managed Infrastructure Suite for Film, ...

11/04/2026

AJA Unveils BRIDGE LIVE IP with SMPTE ST 2110 I/O

AJA Unveils BRIDGE LIVE IP with SMPTE ST 2110 I/O Brie Clayton April 11, 2026 0 Comments New IP video solution streamlines modern productions, providi...

11/04/2026

InSync Unveils Advanced Video Processing and Frame Rate Conversion Solutions at NAB 2026

InSync Unveils Advanced Video Processing and Frame Rate Conversion Solutions at ...

11/04/2026

Amagi Launches Newspulse: An Agentic AI Platform That Autonomously Turns Live Newscasts into Multi-Format Digital Content

Amagi Launches Newspulse: An Agentic AI Platform That Autonomously Turns Live Ne...

11/04/2026

Federal Judge Extends Nexstar/Tegna TRO, Softens Some Provisions

Share Copy link Facebook X Linkedin Bluesky Email...

11/04/2026

Sling TV Launches $19.99 a Month Sling Essentials with ESPN

Share Copy link Facebook X Linkedin Bluesky Email...

11/04/2026

NAB Show Launches Content Creator VIP Program

Share Copy link Facebook X Linkedin Bluesky Email...

11/04/2026

FCC Announces Tentative Agenda for April Open Meeting

Share Copy link Facebook X Linkedin Bluesky Email...

11/04/2026

GARR and Cubbit launch the first geo-distributed storage...

Pilot phase begins for a new national infrastructure designed to safeguard academic and research data with full local data control, sovereignty, resilience, and...

11/04/2026

How to Stream Coachella 2026 at Home

How to Stream Coachella 2026 at Home Check this years stacked schedule for the annual music festivals full lineup, including when Berklee artists from Laufey ...

11/04/2026

Time Travel

Time Travel As Berklee on the Road programs in Puerto Rico and Italy mark decades-long anniversaries, we journey into the past and step into the future. Apri...

11/04/2026

April 10, 2026

Improving vaccine design for Ebola, HIV and more Scripps Research scientists and colleagues develop a nanodisc platform that offers a clearer view of how key vi...

10/04/2026

The Invisible OPEX Killer: Is Your Server Room Dragging You Down?

The Invisible OPEX Killer: Is Your Server Room Dragging You Down? In the broadcast world, we talk a lot about uptime. We talk about talent retention, latency...

10/04/2026

NAB 2026: Imagine Communications to Showcase Expanded Multiviewer Portfolio

Imagine Communications will showcase its multiviewer portfolio at NAB Show 2026 (April 19-22, Booth N1328, Las Vegas Convention Center), including Prismon and t...

10/04/2026

NAB 2026: Chyron Releases PRIME VSAR 2.3 with Updated Unreal Engine Integration

Chyron has released PRIME VSAR 2.3, an update to its virtual set and augmented reality solution for broadcast. The release adds compatibility with Unreal Engine...

10/04/2026

NAB 2026: Techex to Showcase New tx darwin Capabilities

Techex will exhibit at NAB Show 2026 (Booth W2267, April 19-23, Las Vegas Convention Center), demonstrating new tx darwin features including consumer multiview,...

10/04/2026

NAB 2026: NDI to Showcase Ecosystem and NDI 6.3

NDI will exhibit at NAB Show 2026, demonstrating its IP video ecosystem through live partner integrations, NDI 6.3 features, AI metadata workflows, and creator ...

10/04/2026

FOR-A Acquires Tamura Corporations Information Equipment Business

FOR-A has announced the acquisition of all shares of Tamu Radiance Corporation, a new company spun off from the Information Equipment Business of Tamura Corpora...

10/04/2026

NAB 2026: InSync Technology to Unveil New Video Processing and Frame Rate Conversion Products

InSync Technology will showcase new and updated video conversion products at NAB...

10/04/2026

TNT Sports and DAZN Announce Monthly Boxing Event Series in the United States

TNT Sports and DAZN have announced a partnership to air monthly boxing events in the United States under the brand The Fight. The series will be promoted in p...

10/04/2026

Panasonic Introduces SQ3 Series 4K LCD Displays for Professional Environments

Panasonic Projector and Display has announced the SQ3 Series of 4K LCD displays as part of its MEVIX professional display portfolio. All sizes will be available...

10/04/2026

Amagi Adds Agentic Capabilities to Its Media Operations Platform

Amagi has announced the addition of Agentic Media Operations to its Amagi NOW platform, integrating AI reasoning agents across its media supply chain workflows ...

10/04/2026

LTN Announces Network Enhancements Ahead of C-Band Spectrum Auction

LTN has announced enhancements to its global IP video network targeting broadcasters transitioning from satellite distribution. The updates come ahead of US fed...

10/04/2026

Daktronics Installs New LED Displays at Yankee Stadium

Daktronics has installed new LED displays at Yankee Stadium, upgrading the main centerfield board, two flanking boards, and two ribbon displays spanning the 200...

10/04/2026

NAB 2026: Harmonic Announces AI and Cloud Updates to Hybrid Streaming Solution

Harmonic has announced updates to its hybrid streaming solution, including Model Context Protocol (MCP) connectivity for AI applications, cloud-native deploymen...

10/04/2026

NAB 2026: MultiDyne to Debut FiberSaver-10G and VF-9100

MultiDyne Video and Fiber Optic Systems will introduce two new fiber transport products at NAB Show 2026 (Booth C4425, April 19-22): the FiberSaver-10G waveleng...

10/04/2026

NAB 2026: Telos Alliance and ip-studio to Demonstrate STUDIO ZERO

Telos Alliance and ip-studio will demonstrate STUDIO ZERO, a cloud-hosted virtual studio, at NAB Show 2026. First introduced at NAB Show 2023, STUDIO ZERO integ...

10/04/2026

Pixotope and d&b Solutions Announce Strategic Partnership for XR and Virtual Studio Production

d&b solutions, a London-based audio-visual, lighting, and media integration grou...

10/04/2026

ARRI and SmallHD Announce Lens Data Monitor Overlay License for Hi-5 and Hi-5 SX

ARRI and SmallHD have announced a new expansion license for ARRI's Hi-5 and Hi-5 SX hand units that displays lens data overlays on supported SmallHD monitor...

10/04/2026

Roku to Stream Exclusive Savannah Bananas Game Package on Roku Sports Channel

Roku and the Banana Ball Championship League (BBCL) have announced an exclusive streaming partnership to bring five BBCL games to the Roku Sports Channel in 202...

10/04/2026

Ratings Roundup: More Than 18 Million Fans Tune Into 2026 NCAA Mens March Madness on TNT and CBS Sports

Ratings Roundup is a rundown of recent rating news and is derived from press rel...

10/04/2026

No Other Land, Mr. Nobody Against Putin,and More Sundance Institute-Supported Films Nominated for Peabody Awards

The Peabody Awards don't just recognize great storytelling, they spotlight t...

10/04/2026

Fans Crown Winners at the First Spotify Podcast Awards in France

After launching the Spotify Podcast Awards in Mexico last year, we brought the fan-voted celebration to Paris this week for its first edition in France. Hosted ...

10/04/2026

Yamaha launch the DXR/DXS & CXR/CXS Mk3

Powered and unpowered live PA ranges upgraded Yamaha have just refreshed four of their hugely popular PA speaker ranges, delivering significant improvements...

10/04/2026

UJAM open Gorilla Engine to third-party developers

Underlying plug-in & VI technology now available to others UJAM's latest announcement sees the company open up' Gorilla Engine, the development pla...

10/04/2026

2026 NAB Show Exhibitor Insight: Bitcentral

Share Copy link Facebook X Linkedin Bluesky Email...

10/04/2026

Bitcentral To Feature Connected Media Workflows At 2026 NAB Show

Share Copy link Facebook X Linkedin Bluesky Email...

10/04/2026

Bitcentral to Showcase Connected Media Workflows and Inte...

Bitcentral, a leading provider of professional media solutions for broadcast and digital video, will showcase its latest innovations at NAB Show 2026 (Booth W28...

10/04/2026

Ikegami to Introduce Expanded Range of Broadcast Production Solutions at NAB 2026

Ikegami to Introduce Expanded Range of Broadcast Production Solutions at NAB 202...

10/04/2026

AJA Debuts SMPTE ST 2110 and openGear Solutions Ahead of NAB 2026

AJA Debuts SMPTE ST 2110 and openGear Solutions Ahead of NAB 2026 Brie Clayton April 10, 2026 0 Comments New gear and updates address evolving hybrid ...

10/04/2026

Portland Fire+ Streaming Platform Launches

Share Copy link Facebook X Linkedin Bluesky Email...

10/04/2026

Tod Musgrave Joins Proton as U.S. Sales & Marketing Director

Share Copy link Facebook X Linkedin Bluesky Email...

10/04/2026

Proton Expands Minicam Portfolio With Proton Pro At 2026 NAB Show

Share Copy link Facebook X Linkedin Bluesky Email...