Telenor reports first quarter 2022 results

03 May 2022 07:00 CEST

In the first quarter, the mobile business performed well while the overall
quarter was impacted by our strategic journey of investing in modern networks
and structural transactions in Asia. The growth was held back by the Norwegian
fixed line business and intensified competition in Thailand.

Service revenues were stable, and EBITDA was negatively affected by the copper
decommissioning in Norway which is in its final year. In addition, higher energy
prices, and activities related to the planned mergers in Thailand and Malaysia
impacted EBITDA negatively. This resulted in an organic EBITDA development of
-2%. Free cash flow remained robust at NOK 3.6 billion in the quarter, further
strengthening our financial position.

I am especially pleased with the growth in mobile service revenues and ARPU
across the Nordic operations. This confirms that providing quality networks and
services in the world’s most advanced telecom markets creates growth
opportunities. In Asia, we see solid growth in Bangladesh and Pakistan and the
M&A transactions in Thailand and Malaysia are progressing through the necessary
steps. The sale of Telenor Myanmar was closed during the final days of the
quarter, concluding a challenging process in a very difficult situation.

Telenor will host a capital markets day on 20 September.

Investor relations
Øystein Myrvold, +47 99230460
Håkon Hatlevik, +47 90146070

Media contact
David Fidjeland, +47 93467224

More information:
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560887_Telenor Group Q1 2022 report.pdf
560887_Telenor Group Q1 2022 presentation.pdf