Telenor Group is a leading telecommunications company across the Nordics and Asia with 166 million customers and annual sales of around NOK 116 billion (2021).

Share price

Last update: 03/02/2023 04:30 pm (CET)

Credit rating

Moodys: A3

S&P : A-

Leverage target

1.8-2.3x Net interest bearing debt to EBITDA

Number of shares:



Entering 2022, we will maintain our focus on returning to growth, the opportunities we see from beyond connectivity , creating leading operators through partnerships in Asia and developing our infrastructure position in the Nordics. For the full year 2022 and excluding Digi in Malaysia, we expect low single digit growth in service revenues, EBITDA around 2021 level or slightly higher and capex to sales ratio of 16-17%. Read more

Dividend Policy

Telenor aims for year-on-year growth in ordinary dividends per share. Telenor pays semi-annual dividends. Buy-back of own shares and / or extraordinary dividend pay-outs will be evaluated on a case by case basis.

Dividend history

Key figures Telenor Group

NOK in million Year 2021
Revenues 115,839
Organic revenue growth (%) -2.7%
Subscription and traffic revenues 87,147
Organic subscription and traffic revenue growth (%) -2.6%
EBITDA before other income and other expenses 52,347
Organic EBITDA growth (%) 1.0
EBITDA before other income and other expenses/Revenues (%) 45.2
Net income attributable to equity holders of Telenor ASA 17,341
Capex excl. licences and spectrum 15,811
Free cash flow before M&A 12,542
Mobile subscriptions - Change in quarter/Total (mill.) 165.5