Telenor ASA, the Norwegian telecom operator, reported its third-quarter earnings, revealing a mix of positive and cautious signals. The adjusted EBITDA rose to NOK 9.54 billion, up from NOK 9.21 billion a year earlier — yet slightly fell short of market expectations (NOK 9.60 billion).
In its core Nordic region, Telenor showed solid performance, driven by steady service revenue growth and cost efficiencies. It credited this part of its business as the primary growth engine.
However, the company faced pressure in its Asian operations. A negative adjustment of NOK 0.5 billion (~US $49.8 million) was taken due to rising 5G costs at its Malaysian associate, CelcomDigi. Despite a 4.1% EBITDA growth in the region (supported by its stake in Bangladesh’s Grameenphone), challenges remain.
Looking ahead, Telenor remains focused on its Nordic operations while carefully managing Asian uncertainties. Though the Q3 results reflect healthy Nordic momentum, the Asian headwinds signal caution for the full-year outlook.
