Solid year and fourth quarter for Telenor - Seite 2

In 2023, Telenor stopped 280 million fraud calls globally, out of which 31 million in Norway and 63 million in the Nordic region. 

Extreme weather puts important infrastructure to the test

2023 set quite a few weather records and is internationally considered the warmest year ever recorded.

"I'm proud of how our grid coped with the extreme weather last year. This shows that our long-term commitment to upgrading the grid has the desired effect. Every year, we invest around NOK six billion in development and upgrades in Norway, to provide our customers with the best and safest network", says Brekke.

Telenor's goal is to halve greenhouse gas emissions by 2030 and zero emissions by 2045.  Telenor is also using its influence to impact its suppliers to set science-based climate targets. So far, more than half of all the company's purchases are from suppliers that have set science-based climate targets. By 2025, around 70 per cent of Telenor's purchases will be made from suppliers that have set science-based climate targets.

"Extreme weather makes it even clearer that society must prepare for a future where nature sets the agenda. Telenor must take our share of the responsibility here, including reducing our own emissions," says Brekke.

Delivering Norway's fastest and best grid

"Not only was our network once again voted Norway's fastest, we also received the award for Norway's best network by Ookla. This makes us very proud," says Brekke.

For the sixth consecutive year, Telenor's network was named Norway's fastest by Ookla Speedtest.  Telenor’s Finnish company DNA won the Finnish Quality Award and ranked highest in customer satisfaction among Finnish mobile operators, according to EPSI Rating.

 Financial outlook for 2024:
• Low single-digit organic growth in Nordic service revenues.
• Medium single-digit organic growth in both Nordic and Group EBITDA.
• Nordic capex to sales ratio of around 17 per cent.
• Free cash flow of between NOK 9-10 billion before M&A and potential items related to prior years’ activities.

Key figures for Telenor Group

	Fourth quarter		Year
NOK in million	2023	2022	2023	2022
Service revenues	16 073	14 984	62 540	59 760
Organic service revenue growth (%)	5%	-2%	4%	3%
Total Revenues	20 934	19 667	80 452	76 877
Organic revenue growth (%)	4%	3%	3%	4%
Operating expenses	(7 282)	(6 755)	(26 832)	(25 229)
EBITDA before other income and other expenses	8 467	8 040	34 564	33 830
Organic EBITDA growth (%)	4%	0%	3%	1%
Operating profit	3 769	3 327	16 964	15 143
Net income from associated companies and joint ventures	(8,198)	(37)	(8,466)	(301)
Net income attributable to equity holders of Telenor ASA	(7 683)	37 906	13 734	44 913
Capex excl. lease	3 094	4 020	12 731	13 560
Free cash flow before M&A	4 919	2 546	9 490	9 865
Total Free cash flow	5 525	948	15 003	10 604
Leverage	2.2	2.2	2.2	2.2

Media contact: