Telenor sees low single-digit growth in 2025 Nordic service revenues
Feb 6 (Reuters) - Norwegian telecom operator Telenor (TEL.OL), opens new tab reported fourth-quarter core operating earnings in line with estimates on Thursday and forecast low single-digit organic growth in Nordic service revenues in 2025.
The company also said it expects mid-single-digit organic growth in earnings before interest, taxes, depreciation and amortization (EBITDA) in the Nordic region for 2025, and low-to-mid single-digit organic growth in the group's EBITDA, which analysts at J.P.Morgan say is anticipated to be "more back-end loaded."
In the Nordics, organic service revenues grew by 2.3% in the October-December quarter, driven by a 3.3% increase in mobile service revenues, Telenor said in a statement.
Shares in Telenor were up around 1.4% by 1039 GMT.
"Our financial ambitions and new outlook are not without risks, but our line of sight has improved considerably and we are confident in our ability to meet our 2025 outlook," Telenor CEO Benedicte Schilbred Fasmer said.
The company said in Asia, its performance was hampered by the macro-economic situation in Bangladesh as well as a number of one-offs but that Telenor Pakistan showed strong performance.
Adjusted earnings before interest, taxes, depreciation and amortization, and other items was at 8.48 billion Norwegian crowns ($753.95 million) in the reported quarter, slightly higher than 8.47 billion crowns a year earlier.
Analysts had on average expected an adjusted EBITDA of 8.49 billion crowns in a company-provided poll.
Telenor proposed a dividend of 9.60 crowns per share for 2024, compared with 9.50 crowns in 2023.
($1 = 11.2475 Norwegian crowns)
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