"I am very pleased that we continue to deliver growth with new and better products to our customers, at the same time as customer surveys show that we have
Service revenues for the full year 2023 ended up at
Service revenues for the fourth quarter were
"The fourth quarter was yet another strong quarter for
Telenor Nordics and Telenor Asia delivered four and seven per cent growth in service revenues, respectively, in the final quarter of the year, while organic EBITDA growth ended at five and four per cent.
Artificial intelligence accelerates the need for increased security measures
During 2023, digitalization has reached new heights. At the same time, the world is characterized by geopolitical tension, which creates increased unrest and uncertainty for both individuals and businesses. All services society depends on, such as water supply, payment services, health and emergency services and electricity supply, are to a large extent digital.
"Increased digitalisation leads to greater vulnerability, which is why investments in digital security are just as important as investments in artificial intelligence. Norwegian businesses and public enterprises are exposed to more and more serious cyber-attacks", says Brekke.
In the fourth quarter alone,
With artificial intelligence on the rise, we are facing a new era. Criminal groups have gained access to a new toolbox that creates increased unpredictability.
"Whether you're an individual or a business owner, we are all targets. Therefore, we must adapt, be vigilant and take action to protect our digital lives and values", says Brekke.
In 2023,
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
"Extreme weather makes it even clearer that society must prepare for a future where nature sets the agenda.
Delivering
"Not only was our network once again voted
For the sixth consecutive year,
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
Key figures for
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 | (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:
Investor contact:
Frank Maaø +47 91 67 40 45
© OMX, source