Q3 2025 Telenor ASA Earnings Call Transcript
Key Points
- Telenor ASA (TELNF) reported strong results in the Nordics, with an 8% increase in EBITDA and 50,000 new mobile customers added.
- The company achieved a 5.4% growth in EBITDA and a 50% year-on-year increase in free cash flow before M&A, reaching NOK4.2 billion.
- Telenor ASA (TELNF) reaffirmed its expected performance for 2025 and tightened its guidance ranges, indicating confidence in its financial outlook.
- The strategic procurement partnership with Vodafone is expected to unlock significant value and enhance competitiveness and cost efficiency.
- Telenor Pakistan delivered a 17% year-over-year EBITDA growth, and the sale to PTCL is progressing with competition authority approval received.
- The external environment remains challenging, with hybrid warfare, extreme weather, and cyber threats impacting operations.
- In Asia, the macroeconomic context is fragile, with intense data price competition and challenges in the region.
- The financial profile of Celcom Digi's associated 5G network company in Malaysia is not sustainable, leading to a NOK0.5 billion adjustment.
- Spectrum pricing in Bangladesh is high, and upcoming renewals may lead to increased costs.
- The enterprise segment in Sweden remains challenging, with flat top-line growth due to fixed transformation initiatives.
Good morning, and welcome to Telenor's Q3 results call. I'm Frank Maao, Head of Investor Relations here at Telenor. And presenting today are our CEO, Benedicte Schilbred Fasmer here; and our CFO, Torbjorn Wist. Before we get started, just a few quick notes.
So unless we say otherwise, all growth rates are organic, and made on a constant currency basis. And when we mention EBITDA, we are referring to adjusted EBITDA. (Operator Instructions) And with that, I'll hand it over to Benedicte.
Thank you, Frank, and good morning, everyone. This quarter, we've seen a challenging external environment. Hybrid warfare, extreme weather and a high level of cyber threats have all impacted power and communications.
And these events are a reminder of how crucial robust digital infrastructure is. And at the same time, they give us opportunities to help customers build resilience, thanks to our strong
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