Consensus Estimates

Telenor Investor Relations collects estimates from sell-side analysts covering Telenor and compiles consensus estimates every quarter.

The most recent

ABG, Arctic, Barclays, Credit Suisse, DNB, Jefferies, JP Morgan, Kepler Cheuvreux, Morgan Stanley, SEB, Société Générale

Any opinions, forecasts, estimates, projections or predictions regarding Telenor’s performance made by the analysts, and thereby also the consensus estimates, are theirs alone and do not represent the opinions, forecasts, estimates, projections or predictions of Telenor or its management.

Telenor consensus pre Q2 2019

As of  July  2019

Q2 2019

Amounts in NOK million Average High Low Median
Revenues 27.914 28.333 27.753 27.871
Subscription and traffic revenues 21.576 21.990 20.556 21.711
EBITDA before other items 11.365 11.801 11.147 11.303
Other items -181 -75 -342 -200
EBITDA (reported) 11.217 11.701 10.884 11.174
Operating profit 6.641 7.527 6.161 6.640
Profit/Loss in Ass Comp 4 25 -40 10
Net financials -516 -414 -900 -500
Pretax Profit 6.161 7.037 5.735 6.147
Taxes -1.795 -1.700 -1.858 -1.823
Non-controlling interests 854 1.069 550 850
Equity holders of Telenor ASA 3.508 4.329 3.131 3.416

Full year median estimates

Amounts in NOK millions 2019 2020 2021 2022
Revenues  112.240  112.353  113.853  115.654
Subscription and traffic Revenues  86.697  87.623  89.218  92.105
EBITDA before other items  45.151  46.259  47.177  48.030
Other items  -302  -608  -586  -375
EBITDA (reported)  44.849  46.651  46.591  47.655
Operating profit  26.803  27.584  28.724  30.975
Profit/Loss in Ass Comp  -68  33  40  50
Net Financials  -1.468  -2.000  -1.900  -1.823
Pretax Profit  25.385  25.609  27.197  28.191
Taxes  -7.302  -7.315  -7.626  -8.192
Minorities 3.414  3.789  3.969 3.847
Net income to equity holders  14.490  14.934 15.832  16.572