Building Telenor for the future

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(Fornebu, September 20, 2022) Today, on its Capital Markets Day, Telenor is presenting significant changes to ensure growth and reshape the role of the business as a catalyst for digitalization and sustainability. The company will become a leading telecom operator and infrastructure player in the Nordic countries and take leading positions in security and IoT services. In Asia, Telenor, together with its partners, will grow into number one positions in several markets.

“The Telenor you see today is not the Telenor you will see in the future. We are taking a big step forward to ensure more value for our customers in an increasingly digital world that needs secure, stable and sustainable solutions. We are building a smarter and more flexible Telenor – a business that creates value for customers, society and shareholders,” said Sigve Brekke, CEO of Telenor Group.

Connectivity – essential for a sustainable future

The world has gone digital and the adoption of technology and new digital services is accelerating at a record pace. Connectivity is the lifeblood of companies today, and Telenor’s technology enables more sustainable solutions as well as smarter and more efficient use of resources. The vision of empowering societies is stronger than ever.

“We are reshaping Telenor by focusing on four business areas. We are building a competitive organization, with targeted investments, profitable growth and new partnerships. This strategy will create increased options and opportunities for value creation,” says Tone Hegland Bachke, CFO of Telenor Group.

A new structure

Telenor strengthens the Nordic cooperation between the four companies in the region. Increased and closer cooperation is accompanied by faster development and deployment of customer services, new synergies and more efficient use of internal resources. The company’s infrastructure is established as a separate business area to develop Telenor’s assets. A newly created unit will develop and renew Telenor’s portfolio of companies that are close to Telenor’s core business.

Companies in Asia are now organized under Telenor Asia, focusing on building large-scale and profitable businesses, as well as more effective risk management. The ambition is to become a benchmark operator in several markets, driving digitalization and providing new innovative services for businesses and consumers. Structural partnerships or an IPO are future options for Telenor Asia.

On Capital Markets Day, Telenor management presents more details on the increased independence of Telenor Nordics and Telenor Asia, the development of Telenor’s assets and the company’s ESG ambitions.

The medium-term financial outlook for 2023-2025:

  • Low to mid-single-digit revenue growth for Nordic services
  • Nordic mid-single-digit EBITDA growth
  • Annual growth in dividend per share

The evolution of energy prices over the last two months makes it increasingly difficult to achieve the objective of a stable EBITDA in 2022.

The event will be available via webcast from 09:00 CEST:

Media contact:

David Fidjeland, Director of Media Relations, Telenor Group

+47 935 67 224 | [email protected]