Latest news with #BenedicteSchilbredFasmer
Business Upturn
18-07-2025
- Business
- Business Upturn
Strong tailwind for Telenor in Q2
(Fornebu, Norway – 18 July 2025) Telenor Group delivers very strong results in the second quarter of 2025, triggering a raised EBITDA outlook for both the Nordics and Group. At the same time the company solidifies its position in the Nordic fibre market with a NOK 1.4 billion multi-year investment in Finland and the recently announced NOK 6 billion acquisition of GlobalConnect's consumer business in Norway. Second-quarter highlights: Service revenues of NOK 16.5 billion. Adjusted EBITDA of NOK 9.3 billion. Free cash flow before M&A of NOK 1.6 billion. During the second quarter, Telenor delivered year-over-year organic growth of 2.9 per cent in service revenues and 8.3 per cent growth in EBITDA. The main driver for the strong performance was Telenor Nordics, with 12.5 per cent organic growth in adjusted EBITDA. 'I am very pleased with our Nordic performance this quarter, which is the result of our employees' hard work and dedication to deliver the best and most secure network to our customers, as well as attractive add-on services. Based on the strong performance in the first half, we have raised our EBITDA growth outlook for 2025,' says CEO Benedicte Schilbred Fasmer. For the first half of 2025, Telenor Group delivered adjusted EBITDA of NOK 18.0 billion and a free cash flow before M&A of NOK 4.6 billion. Norway takes the lead this quarter In the Nordics, Telenor delivered 3.7 per cent organic growth in service revenues in the quarter. 'The performance in the Nordics was excellent this quarter. Our strategy to deliver more value for money with superior coverage, security products and cloud storage, continues to positively impact performance in all markets,' says Fasmer. Telenor Norway exceeded expectations, delivering growth in service revenues of 3.7 per cent and an adjusted EBITDA increase of 16.1 per cent. In addition to service revenue growth in Norway, revenues from the national roaming agreement with Lyse Tele (ice) contributed positively. In June, Hydro signed an eight-year agreement with Telenor for the delivery of mobile network as a service, covering both indoor and outdoor mobile coverage, for six aluminum plants in Norway. Telenor will provide mobile coverage, in addition to other bespoke services such as Secure Cloud Connect and IoT subscriptions. Telenor Pakistan delivered yet another quarter with strong service revenue growth of 15.0 per cent, while Grameenphone showed good execution, both commercially and in terms of cost efficiency despite the continued challenging market situation in Bangladesh. Significant investments in fibre Today Telenor announced the plan to upgrade DNA's market-leading fixed broadband infrastructure to become an all-fibre network for housing association customers in Finland by 2028. The investment of around NOK 1.4 billion (EUR 120 million) will be part of Telenor's capex over the next three years. Last week Telenor announced the acquisition of GlobalConnect's consumer business in Norway in a transaction valued at NOK 6.0 billion. The GlobalConnect acquisition includes fibre infrastructure as well as approximately 140,000 fibre customers. 'These two important investments will strengthen Telenor's foundation as a leading digital infrastructure provider in the Nordic, offering world-class speedy and secure connections to our customers,' says Fasmer. These transactions will create synergies with existing operations and build long-term, robust scale and better customer experiences across the telecom market. Financial outlook for 2025: Low single-digit organic growth in Nordic service revenues. High-single-digit organic growth in adjusted EBITDA in the Nordics (increased from mid-single-digit). For the Nordic business, capex excl. leases are expected to account for around 14 per cent of revenues. Mid-single-digit organic growth in the Group's EBITDA (increased from low-to-mid-single-digit). Free cash flow before M&A of around NOK 13 billion. For further information, please contact: Thomas Midteide, Chief Communications Officer, mobile +47 96 23 20 17 Frank Maaø, SVP Capital Markets and Investor Relations, mobile +47 91 67 40 45 Attachment TE_Telenor_2025_MG_4107_WEB Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
08-07-2025
- Business
- Yahoo
Telenor Acquires GlobalConnect's Consumer Business in Norway
Tn-No-Business-2024-Image-22 (Fornebu, Norway – 8 July 2025) Telenor announces the acquisition of GlobalConnect's consumer business in Norway in a transaction valued at NOK 6.0 billion. The deal marks a significant strategic step in strengthening Telenor's position in the Norwegian fibre market. 'This marks a strategic step forward – for our customers and for Telenor. By integrating the consumer part of GlobalConnect's fibre network into our own, we will extend our reliable and high-performing services to even more households across the country,' says Benedicte Schilbred Fasmer, President & CEO of Telenor. The acquisition, which includes the fibre infrastructure and approximately 140,000 fibre customers, represents a key building block in Telenor's long-term strategy to strengthen its fibre footprint in Norway. The transaction will create synergies with existing operations and build long-term, robust scale across the core telecom market. Benefits for customers and employeesCustomers joining Telenor will gain access to a wide range of services – from advanced digital security and premium home networks to diverse entertainment offerings – all supported by Telenor's high-quality connectivity and customer service. Telenor is committed to continued investments in fraud prevention, secure WiFi, and digital protection - delivering on our promise to be all of Norway's safety net. 'We warmly welcome our new customers and employees. This acquisition enables us to reach even more households with the services people rely on every day — and to keep raising the bar for what customers can expect from their connectivity provider,' says Fasmer. The acquisition underscores Telenor's long-term commitment to strengthening Norway's digital backbone and driving innovation for the benefit of consumers and society. 'GlobalConnect's B2C business in Norway is powered by a highly skilled and dedicated team, having successfully proven consistent growth over many years. As GlobalConnect is focusing our B2C business in the Nordics into a pure wholesale-provider, it has been a natural next step to divest B2C Norway. We are confident that Telenor will take good care of our B2C customers and employees going forward. B2B and Carrier customers in Norway remain a strategic focus and we will continue our investments in these areas,' says Martin Lippert, CEO of GlobalConnect. Financial benefitsThe Norwegian fibre market is highly fragmented, and Telenor believes scale is needed to provide the sufficient level of robustness, operationally and financially. Telenor's market share of fibre subscriptions will increase from 22% to 29% as a consequence of the transaction, based on 2024 NKOM data. GlobalConnect's consumer portfolio generated revenues of more than NOK 0.6 billion in 2024. Telenor expects EBITDA of around NOK 0.3 billion in each of the two first years of operations after integration and restructuring costs, and free cash flow (FCF) from the deal to gradually ramp up to a run-rate of NOK 0.45 billion before financing costs from 2028. Telenor estimates annual post-integration cost savings of approximately NOK 0.15 billion, driven by backbone integration and scale efficiencies within sales, operations and maintenance. Telenor expects integration capex of approximately NOK 0.3 billion in the period 2026-2028, the majority of which are expected to be incurred during the first two years. The transaction is subject to approval by the Norwegian Competition Authority. Media contact: Tobias Gausemel Backe, Press contact, Telenor Group+47 975 47 778 | Thomas Midteide, SVP Communications, Telenor Group+47 962 32 017 | Attachment Tn-No-Business-2024-Image-22Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
Telenor ASA (TELNF) Q1 2025 Earnings Call Highlights: Strong Nordic Growth Amidst Global Challenges
Q : Why did Telenor decide to stick with mid-single-digit guidance for Nordic EBITDA growth despite strong Q1 performance? A : Benedicte Schilbred Fasmer, Group CEO, explained that it's still early in the year, and there are fluctuations expected throughout the year. The company remains confident in its mid-single-digit guidance and will adjust as necessary as the year progresses. Torbjorn Wist, EVP & CFO, added that the cost allocation between Nordic and other categories contributed to the decision, with some costs reallocated to headquarters and other areas. Telenor experienced higher churn in Norway and Finland, with increased competition in the B2B market and a decline in fixed broadband subscribers. The company is expanding its AI factory to meet the growing demand for sovereign and secure AI solutions, with plans to scale further. Telenor's Nordic mobile networks were recognized as the best in the region by OpenSignal, and Ookla awarded Telenor Norway as the fastest mobile and 5G network. The company achieved a 5.8% EBITDA growth in the Nordics, driven by a 3.9% increase in mobile service revenue and a 1% decline in OpEx. For the complete transcript of the earnings call, please refer to the full earnings call transcript . Story continues Q: Can you elaborate on the potential for consolidation in the Nordic telecom market? A: Benedicte Schilbred Fasmer, Group CEO, stated that the European telecom market has over 100 players, and there is a need for scale, especially with the need for larger investments in networks. Telenor sees opportunities for in-market consolidation, particularly in Denmark and Sweden, and believes there might be a more positive climate for such mergers now. Q: What is driving the weaker KPIs in Norway and Finland, and what is the strategy to address this? A: Benedicte Schilbred Fasmer, Group CEO, noted that there was higher churn in Norway due to back book changes, and competition in Denmark and Finland has intensified. The company has implemented back book price changes and included a wider array of services, which has resulted in a slight downturn in subscriber numbers but maintained a strong top line. Q: Could you provide more insight into the defense contracts and their potential impact on service revenue? A: Benedicte Schilbred Fasmer, Group CEO, mentioned that while it's early days, the defense contracts, particularly in Finland, are currently small. However, Telenor has significant relationships with armed forces, especially in Norway, and sees potential for increased activity and opportunities in this area. Q: How does Telenor plan to improve performance in Celcom Digi, and what steps can be taken as a joint venture partner? A: Benedicte Schilbred Fasmer, Group CEO, explained that Telenor supports Celcom Digi through board seats and operational roles to help improve performance. The company is taking measures to enhance both top-line and cost-side performance, with the merger plan and synergies remaining on track. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Business Recorder
06-05-2025
- Business
- Business Recorder
Norway's Telenor lags first-quarter core earnings expectations
Norwegian telecom operator Telenor reported first-quarter earnings slightly below analysts' expectations on Tuesday but said it had continued to grow service revenues above inflation on an organic basis in the Nordics. Telenor's earnings before interest, tax, depreciation and amortisation (EBITDA) before other items rose to 8.64 billion Norwegian crowns ($832.82 million) in the January-March quarter, from 8.51 billion a year earlier. Telenor's and Orion's acquisition: CCP decision delay threatens pact, PTCL chief says Analysts, on average, had expected 8.67 billion crowns in a company-compiled poll. 'In Asia, we were encouraged by Grameenphone's quarter-on-quarter improvement, although it is premature to determine if this represents a trend,' CEO Benedicte Schilbred Fasmer said in a statement.
Reuters
06-02-2025
- Business
- Reuters
Telenor sees low single-digit growth in 2025 Nordic service revenues
Feb 6 (Reuters) - Norwegian telecom operator Telenor ( 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 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)
