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Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for October-December was flat year-on-year at 10.1 billion Norwegian crowns ($1.02 billion), while analysts on average had expected 9.9 billion crowns.
Telenor proposed a dividend for 2022 of 9.40 crowns per share, up from 9.30 crowns, while the median analyst forecast was for 9.60 crowns.
The operator announced in September a potential listing of its Asian unit and a restructuring of its Nordic business, which will lead to increased independence for the two regions and closer ties between its four Nordic units.
Its mid-term financial outlook is for its Nordic service to show low to mid-single digit revenue growth in the 2023-2025 period, and mid-single digit growth in EBITDA.
“The (fourth) quarter represents significant progress on our new strategic roadmap towards 2025,” Chief Executive Sigve Brekke said in a statement.
“Mobile service revenues in Telenor Nordics increased by 5%, demonstrating the growth potential in the region.”
Operating expenses rose 8% in the fourth quarter because of higher energy costs and a provision related to value added tax on 2G licence payments in Bangladesh, the company said.
Telenor expects its Nordic business to show low to mid-single digit growth for both service revenue and EBITDA this year, while capital expenditure in the Nordics is expected to be around 17% of revenue.
The operator, which has about 158 million customers across the Nordic region and Asia, last year completed a $15 billion merger to form a telecoms leader in Malaysia and its Malaysian unit is now listed as discontinued operations.
Its $8.6 billion deal in Thailand is also moving towards completion, it said.
Telenor is the majority owner of Thai telecoms firms DTAC which is set to merge with True Corporation, a tie-up expected to take place the first quarter of 2023.
($1 = 9.8785 Norwegian crowns)
