Norway's Telenor lags core profit estimates, trims earnings targets
Telenor's First-Quarter Earnings and Revised Targets
April 28 (Reuters) - Norway's leading telecom operator Telenor reported first-quarter core earnings below analysts' expectations on Tuesday, reflecting slower growth in the Nordics, especially in Finland, and a challenging situation in Bangladesh.
First-Quarter Core Earnings Performance
Telenor's adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) were 8.05 billion Norwegian crowns ($864.6 million) in the quarter. Analysts polled by the company had expected 8.25 billion crowns on average.
CEO Statement on Strategic Direction
"We are delivering on our commitment to simplify the Group portfolio and becoming a more Nordic-centric company over time, while at the same time enhancing our financial strength and increasing capital returns to shareholders," CEO Benedicte Schilbred Fasmer said in a statement.
Revised Earnings Targets and Outlook
Organic EBITDA Growth Target Adjustments
Telenor also slightly lowered the floor of its organic EBITDA growth target ranges for 2026 due to revenue concerns in Finland and Bangladesh.
Nordic Region Growth Expectations
The company said it expected organic growth in a low- to mid-single-digit percentage in its adjusted EBITDA in the Nordics, changed from mid-single-digits before.
Group Core Profit Forecast
For the group adjusted core profit, Telenor sees it between flat and low-single-digit organic growth, down from low- to mid-single-digit growth in its previous forecast.
Additional Information
($1 = 9.3103 Norwegian crowns)
(Reporting by Elviira Luoma, editing by Milla Nissi-Prussak)
