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 ...

30/04/2026

PWHL Reports Record Growth in Third Regular Season as Playoffs Begin April 30

The Professional Women's Hockey League (PWHL) concluded its third regular season on Saturday, reporting growth across attendance, viewership, digital engage...

30/04/2026

NBC Sports Launches National Sunday MLB Coverage Beginning May 3

NBC Sports will air national MLB coverage on Sundays beginning May 3, with MLB Sunday Leadoff on Peacock and NBCSN at 12:30 p.m. ET, followed by the debut of th...

30/04/2026

Clear-Com Appoints Brian Grahn and Ben Turnwell to New Roles

Clear-Com has appointed Brian Grahn as Market Outreach Manager of the Americas and Ben Turnwell as Business Development Manager for EMEA live. Grahn joined Cle...

30/04/2026

ARRI Introduces cforce MAX Lens Motor for Hi-5 Lens Control System

ARRI has introduced the cforce MAX, a new lens motor for the Hi-5 lens control system. The cforce MAX is twice as fast as the cforce plus motor it replaces whil...

30/04/2026

Knuerr, Voxtronic, and IHSE to Present Integrated Control Room Solution at Airspace World

Knuerr, Voxtronic, and IHSE will jointly present an integrated control room solu...

30/04/2026

The CW Network and ESPN to Stream CW Sports Live Events on ESPN App

The CW Network and ESPN have announced an agreement to make the ESPN App the exclusive streaming home for all CW Sports live events. CW Sports will continue to ...

30/04/2026

Sennheiser Spectera Deployed on Ed Sheerans The Loop Global Stadium Tour

Ed Sheeran's The Loop' tour launched in Auckland in January 2026 before moving on to Australia, with South America and the United States to follow late...

30/04/2026

Audinate Launches Dante Preset Creator for Offline Network Configuration

Audinate has announced Dante Preset Creator, a free online tool for configuring Dante network settings before hardware is available on site. Presets created in ...

30/04/2026

Yahoo Sports Appoints Jarrod Schwarz as General Manager

Yahoo Sports has announced the appointment of Jarrod Schwarz as General Manager of Yahoo Sports. Schwarz will oversee product, design, and technology; revenue a...

30/04/2026

Nielsen: U.S. Viewers Spent 79.8 Billion Minutes Watching Soccer in 2025

Nielsen has released a new report, Get Ready with Media Intelligence: 2026 FIFA World Cup Edition, examining U.S. soccer viewership trends, fan engagement, and ...

30/04/2026

USA Lacrosse Names SportsEngine Preferred Youth Sports Management Platform Partner

USA Lacrosse and SportsEngine have announced an expanded partnership, naming Spo...

30/04/2026

Telos Alliance To Appear at MPTS 2026 Across Multiple Partner Booths

Telos Alliance will participate in the 2026 Media Production and Technology Show (MPTS), taking place May 13-14 at Olympia London. Rather than exhibiting from a...

30/04/2026

DAZN Bolsters U.S. Ambitions With ViewLift Acquisition, Targets Evolving Regional Sports Landscape

The global streamer buys the U.S. DTC platform solutions provider for a reported...

30/04/2026

Tigo Sports Upgrades Video Infrastructure with Ateme Technology

Tigo Sports, Paraguay's leading sports broadcaster, has upgraded its video infrastructure with Ateme solutions for live encoding, multiplexing, and signal c...

30/04/2026

World Rugby and IMG Announce Long-Term Media Rights Partnership

World Rugby and IMG have announced a long-term media rights partnership focused on growing rugby in the United States ahead of the Men's and Women's Rug...

30/04/2026

NWSL & Overtime Re-Up Gen-Z Focused Content Partnership

For the second year in a row, Overtime and the National Women's Soccer League (NWSL) are teaming up through a renewed content partnership to bring fans even...

30/04/2026

ESPN Executive Vice President David Roberts Set To Retire

The 22-year ESPN vet's responsibilities will reportedly be taken over by SVP Mike Foss...

30/04/2026

SVG GameDay, Ep. 13: Anaheim Ducks' Scott Fausneaucht - Skating with the Ducks of Orange County

In-venue and creative video staffers at the professional and collegiate level ha...

30/04/2026

Prime Video Announces Multiyear Agreement with Duke Mens Basketball

Amazon and Duke University have announced a multiyear agreement for Prime Video to present exclusive coverage of three Duke Blue Devils men's basketball neu...

30/04/2026

Ratings Roundup: NBA Playoffs Return to NBC Sports up 38%; UFL Viewership up Midway Through Regular Season

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

30/04/2026

Introducing Verified by Spotify, a Signal of Authenticity and Trust for the Artists Behind the Music

Music is evolving, and so are the ways you discover and connect with artists. In...

30/04/2026

First-Ever Stockholm Music Week Celebrates the Industry's Present and Future

Between April 22-29, the first inaugural Stockholm Music Week brought together thought leaders and partners across industries including music, tech, government,...

30/04/2026

API launch the Vision+ console

Iconic large-format console upgraded API's iconic Vision console has just been treated to an overhaul that aims to meet the demands of today's profe...

30/04/2026

Lewitt introduce the LCT 440 Pure stereo pair

Comes complete with miking accessories The LCT 440 Pure has proven to be a popular member of Lewitt's mic line-up, offering impressive technical perform...

30/04/2026

SynthFest UK 2026 Announced

24 October 2026 at The Octagon, Sheffield Now in its eighth year, SynthFest UK is the largest event of its kind in the UK, bringing together the top keyboar...

30/04/2026

SBS & NITV LEAD NATIONAL RECONCILIATION WEEK 2026 WITH LANDMARK GULPILIL DOCUMENTARY

SBS & NITV LEAD NATIONAL RECONCILIATION WEEK 2026 WITH LANDMARK GULPILIL DOCUMEN...

30/04/2026

Rohde & Schwarz equips new Terminal 3 at Frankfurt Airport with security scanners

Rohde & Schwarz equips new Terminal 3 at Frankfurt Airport with security scanner...

30/04/2026

Jennifer Ehle and Alex Hassell join the cast of ITV's propulsive lunar thriller First Woman

Jennifer Ehle (Contagion, Zero Dark Thirty) and Alex Hassell (Rivals, Wasteman, ...

30/04/2026

L3Harris Technologies Reports Strong First Quarter 2026 Results

MELBOURNE, Fla., April 30, 2026 - L3Harris Technologies (NYSE: LHX) reports first quarter 2026 results. Highlights Orders of $7.8 billion; book-to-bill of 1....

30/04/2026

Golf Craft Interview: A1s Florian Brown and James Deason

Behind the Broadcast: The Sound of Elite Golf Golf is gaining popularity; the 2025 Ryder Cup achieved record-breaking viewing figures in the UK specifically, wi...

30/04/2026

CPI Media Leverages QuickLink StudioCall for Integrating...

STA VENERA, MALTA, APRIL 29, 2026 CPI Media, a voluntary organization within the Missionary Society of St Paul (MSSP) and a leading media house dedicated to p...

30/04/2026

Hitomi Broadcast Presents UK Debut of MatchBox Panorama a...

New software platform delivers comprehensive timing measurement across production workflows...

30/04/2026

Cutting edge British innovation leads at BroadcastAsia 20...

Once again, the UK Pavilion in Hall 5 of BroadcastAsia 2026 will feature the latest and best in technology specifically developed and tailored for modern media ...

30/04/2026

Avid powers faster workflows and next-generation immersive audio with latest Pro Tools release

Avid powers faster workflows and next-generation immersive audio with latest Pro...

30/04/2026

Ocean Blue Software Launches ATSC 3.0 Inspector for Smart TVs

Share Copy link Facebook X Linkedin Bluesky Email...

30/04/2026

Digital Azul positions Lisbon as a remote production hub...

Scalable broadcast-grade production over public internet, replacing traditional OB workflows...

30/04/2026

V Nova Brings DTV Deployment LCEVC Ecosystem Progress and...

Live demonstrations highlight LCEVC ecosystem momentum, AI-powered video pipelines, and expansion across broadcast, streaming, and social media. DTV (TV 3.0) ...

30/04/2026

Student Spotlight: Matthew Leon

Student Spotlight: Matthew Leon The dual major shares his path from community college to Berklee, and how his heritage influences his work. April 29, 2026 B...

30/04/2026

Berklee Artists to Perform at Major Global Music Festivals

Berklee Artists to Perform at Major Global Music Festivals As part of the Berklee Popular Music Institute, students will perform at Lollapalooza, Governors Ba...

30/04/2026

Study: Rokus Low-Cost, Ad-Free Howdy Streamer Hits 1 Million Subs

Share Copy link Facebook X Linkedin Bluesky Email...

30/04/2026

MLS Innovation Lab Selects AI Partners

Share Copy link Facebook X Linkedin Bluesky Email...

30/04/2026

NRB Files FCC Complaint Over Jimmy Kimmel Live!' Monologue

Share Copy link Facebook X Linkedin Bluesky Email...