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, Goldman Sachs, JP Morgan, Kepler Cheuvreux, 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 post Q3 2019

As of October 2019

Post Q3 2019

Amounts in NOK million Average High Low Median
Revenues 31.786 32.731 30.765 31.751
Subscription and traffic revenues 24.406 24.574 24.212 24.410
EBITDA before other items 11.987 13.401 11.257 11.985
Other items -133 75 -236 -129
EBITDA (reported) 11.879 13.201 11.157 11.883
Operating profit 6.498 6.934 5.728 6.541
Profit/Loss in Ass Comp -16 61 -100 5
Net financials -619 317 -1.006 -656
Pretax Profit 5.869 6.779 5.132 5.854
Taxes -1.720 -1.425 -2.034 -1.731
Non-controlling interests 840 1.509 337 750
Equity holders of Telenor ASA 3.353 4.908 2.607 3.160

Full year median estimates

Amounts in NOK million 2019 2020 2021 2022
Revenues 116.890 124.667 126.976 127.571
Subscription and traffic revenues 90.286 98.572 100.224 101.977
EBITDA before other items 46.338 50.482 52.063 54.465
Other items -256 -548 -518 -563
EBITDA (reported) 46.083 49.934 51.545 53.902
Operating profit 26.601 29.473 30.395 32.774
Profit/Loss in Ass Comp -255 -50 -5 50
Net financials -3.461 -2.524 -2.450 -2.497
Pretax Profit 22.808 26.279 27.661 29.912
Taxes -9.652 -7.853 -8.209 -8.455
Minorities 3.264 3.539 3.751 3.713
Net income to equity holders 9.868 15.393 15.776 16.778