Telenor Reports Profit In Q4

(RTTNews) - Telenor ASA (TEL.OL), a Norwegian telecommunications company, Thursday reported a profit in the fourth quarter, in the absence of an year-ago impairment of investment in True Corporation. However, revenues slid from last year.

For the fourth quarter, the net income was NOK 2.05 billion, compared to the previous year's loss of NOK 7.41 billion.

This resulted in net income of NOK 1.735 billion to equity holders of Telenor, which compares to a loss of NOK 7.683 billion for the same period last year, which included impairment of investment in True Corporation of NOK 7.20 billion. Earnings per share was NOK 1.27, versus loss per share of NOK 5.55 last year.

On a pre-tax basis, profit was NOK 3.10 billion, compared to a loss of NOK 5.71 billion in the year-ago quarter. EBITDA in the quarter increased to NOK 8.12 billion from NOK 7.99 billion last year.

However, the revenue in the quarter slid to NOK 20.50 billion from NOK 20.93 billion in the previous year.

The Board of Directors proposes a dividend of NOK 9.60 per share for 2024.

Looking ahead, for 2025, the company expects low single-digit organic growth in Nordic service revenues in 2025. It expects Nordic EBITDA to grow at a mid-single-digit rate organically.

The Group's EBITDA for the year is expected to see low-to-mid single-digit organic growth.

On Wednesday, Telenor closed 0.36% lesser at NOK 138.40 on the Oslo Stock Exchange.