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...
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...
20/01/2026
SVG Sit-Down: BitFire's Jim Akimchuk on the Future of Cloud, Remote, Softwar...
20/01/2026
From architecture to reality: What CBC's Milano Cortina 2026 workflows tell ...
20/01/2026
Milano Cortina 2026: Making the Winter Olympics and Paralympics workflow work fo...
20/01/2026
Countdown to Milano Cortina 2026: SVG Launches SportsTechLive Blog in Lead-up to...
20/01/2026
Grand finale: Rally Saudi Arabia pushes WRC to make the most of cameras and dron...
20/01/2026
State of Change: What's Happening in the Remote-Production Business?NEP Group, Game Creek Video, Dome Productions, Mobile TV Group, Program Productions exec...
20/01/2026
CFP National Championship 2026: A Look Back at SVG's Complete CoverageGo behind the scenes with ESPN, Game Creek Video, Van Wagner, and the champion Indiana...
20/01/2026
The Gotham, Film Independent, and Creators Coalition on AI Join Alliance
by Michelle Satter, Founding Senior Director, Sundance Institute's Artist Programs...
20/01/2026
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
20/01/2026
December, the first month of winter and the holiday season, has traditionally encouraged families to spend time together in front of the television. During this...
20/01/2026
During December, streaming's share of TV viewing in Mexico settled at 24.3%, an increase of 0.1 share points from the previous month.
Disclaimer: YUMI TV,...
20/01/2026
Christmas Day is Most-Streamed Day Ever with 55 Billion Viewing Minutes, led by...
20/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
20/01/2026
Disguise and ASB GlassFloor today announced a strategic partnership that turns the arena floor into a fully customizable interactive digital surface. This will ...
20/01/2026
Last summer, ITV celebrated the tenth anniversary of its popular reality dating show, Love Island. To ramp up the excitement of series 12 (launched in the UK on...
20/01/2026
Berklee's Mark Ethier Named One of SPIN's Most Influential People in Mus...
20/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
20/01/2026
Share Share by:
Copy link
Facebook
X
Whatsapp
Pinterest
Flipboard...
20/01/2026
Emergent, a provider of AI-powered media production solutions, today announced its presence at ISE 2026 in Barcelona, taking place February 3 6, where it will u...
20/01/2026
Back to All News
Netflix and Warner Bros. Discovery Amend Agreement to All-Cash Transaction
Business
20 January 2026
Global
Link copied to clipboard
All-C...
20/01/2026
Back to All News
Now You Can Play a Role in Our Live Events With Real-Time Voting
Elmar Nubbemeyer
VP, Member Product
Product
20 January 2026
Global
Link...
19/01/2026
CFP National Championship 2026: Indiana Football's Digital Crew Generate Hyp...
19/01/2026
CFP National Championship 2026: Van Wagner Relies on Experience for Indiana-Miam...
19/01/2026
CFP National Championship 2026: Game Creek Video Fields Premiere IP Compound for...
19/01/2026
CFP National Championship 2026: For a Slew of Studio Shows, ESPN Turns Hard Rock...
19/01/2026
CFP National Championship 2026: ESPN's Sweeping Live Game Production Leverag...
19/01/2026
The new L3Harris NOVA binocular system is the every-soldier goggle' - and the beginning of a new era for night-vison capability....
19/01/2026
The Majority of Those Surveyed Prefer to Buy Brands Who Advertise in Content Tha...
19/01/2026
Back to All News
Straight to Hell' Sets April 27 Premiere: Teaser Trailer,...
19/01/2026
New Workflow Enhancements for All Broadcast Pix Systems, Plus 4-Channel ISO Recording for Hybrid and Roadie Tyngsboro, Mass. - January 2025 - Broadcast Pix ann...
19/01/2026
Monday 19 January 2026
Sky News reinvents News at Ten for the modern audience with The Wrap
Sky News today announces The Wrap, a bold evolution of its 10pm ou...
19/01/2026
Back to All News
Netflix Announces the Series Nights & Days, Directed by Kamila...
19/01/2026
DPA Microphones is striking a new chord in piano miking with the debut of its DPK2015 Piano Stereo Kit, an out-of-the-box, plug-and-play miking solution that ta...
19/01/2026
DPA Microphones will present its 4099 CORE Instrument Microphone and redesigned...
19/01/2026
Trianel relies on Arvato Systems for future-proof data center operations
Moving to the cloud: Arvato Systems implements extensive IT migration project
Migrat...
19/01/2026
Celebrating 21 Years of the RT Choice Music Prize
RT Choice Music Prize
In association with IMRO and IRMA
Irish Album of the Year 2025 - Shortlist Announce...
18/01/2026
January 18 2026, 21:30 (PST) Dolby Cinema Arrives in Bengaluru: Dolby Laborator...
17/01/2026
Lightware, an industry leader in signal management, is helping to elevate the Google Meet experience with the introduction of an integration with Taurus UCX. Th...
17/01/2026
Clear-Com announced a strategic partnership with NETGEAR AV to offer four high-performance networking switches as original equipment manufacturer (OEM) solutio...
17/01/2026
QuickLink, a leading provider of award-winning video production and remote guest contribution solutions, today announced a new U.S. distribution partnership wit...
17/01/2026
NUGEN Audio announces the latest evolution of MasterCheck, its industry-trusted optimization plug-in for cross-platform mastering and loudness verification. Des...
17/01/2026
BHV has announced that it will highlight its new SportsBox remote vision mixer and picture processor at ISE in Booth #4H900 marking its official introduction in...
17/01/2026
Clear-Com will return to ISE 2026 to demonstrate its latest intercom solutions for broadcast, live production, and AV professionals. Exhibiting at Stand #4P700...
17/01/2026
Grass Valley, a leading provider in live production solutions, will exhibit at ISE 2026 in Barcelona from February 3 6, presenting its vision for how modern Bro...
17/01/2026
Utelogy Corporation, the global leader in connected workplace management, monitoring, control, automation and analytics closes out a record-breaking 2025. The c...
6 minute read 
