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Earnings Call Summary | TELENOR ASA ADR EACH REPR 1 ORD NOK6 SPON(TELNY.US) Q1 2024 Earnings Conference

Futu News ·  May 1 08:56  · Conference Call

The following is a summary of the Telenor ASA (TELNY) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Telenor ASA reported a 6% growth in service revenue and a 7% growth in EBITDA in Q1 2024.

  • It generated a total free cash flow of NOK5.4 billion in the same quarter.

  • Positive financial growth was attributed to revenue growth, cost discipline in the Nordic region, and cash flow focus in Asia.

  • The strong Q1 results in the Nordic operation were better than expected.

  • The company is on track to meet its full-year and midterm financial targets.

Business Progress:

  • Telenor showed strong growth in the Nordic region as all business units contributed to revenue and EBITDA.

  • The company has outlined a new cloud-native technology transformation program and formed a joint venture, Skygard, to launch new data centers by H1 2025.

  • The Asian operations are focusing on synergy realization and cash repatriation, aligning with the target of generating NOK5 billion in free cash flow from Asia in 2025.

  • A partnership has been confirmed with NVIDIA to enhance Telenor's data centers, aiding in Telenor Nordics' transformation.

  • The company plans to concentrate its efforts on cost management, exploring profitable ventures, and growing operational leverage in response to customer churn due to price increases.

  • There's anticipation of a positive regulatory change allowing more access to the fixed market and contributing to potential cost savings.

  • It is planning a more wholesale-oriented business approach in response to changing fiber conditions.

  • Telenor foresees deregulation positively impacting revenue generated on its mobile towers and looks forward to the lifting of national roaming regulations.

  • Notwithstanding the divestment of Telenor Pakistan, the company aims to keep its cash flow targets consistent, with the ambition to resume dividends by 2025.

More details: TELENOR ASA ADR EACH REPR 1 ORD NOK6 SPON IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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