TEL Telenor ASA

Invitation to Telenor Group’s results for the third quarter 2024

Invitation to Telenor Group’s results for the third quarter 2024

Join us for Telenor Group’s results for the third quarter 2024



When: Wednesday 30th October, 0900 CET / 0800 UKT.

To view the webcast, without participating in the live Q&A, please visit:

  or visit Telenor.com/investors

The presentation will be available via Webcast only.

For media:

A separate press meeting will be held at 10.30 CET at Telenor HUB, Snarøyveien 30, Fornebu. The media session will be held in Norwegian. 

To RSVP, please email:

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act



EN
15/10/2024

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Reports on Telenor ASA

 PRESS RELEASE

Invitation to Telenor Group’s results for the third quarter 2024

Invitation to Telenor Group’s results for the third quarter 2024 Join us for Telenor Group’s results for the third quarter 2024 When: Wednesday 30th October, 0900 CET / 0800 UKT. To view the webcast, without participating in the live Q&A, please visit:   or visit Telenor.com/investors The presentation will be available via Webcast only. For media: A separate press meeting will be held at 10.30 CET at Telenor HUB, Snarøyveien 30, Fornebu. The media session will be held in Norwegian.  To RSVP, please email: This information is subject to the disclosure requirements pursua...

Christoffer Wang Bjørnsen
  • Christoffer Wang Bjørnsen

Telenor (Sell, TP: NOK125.00) - 2025 Nordics capex risk remains

While we are only just below consensus on 2024–2026e adj. EBITDA, we are well below on FCF before M&A, and reiterate our SELL given our concerns Telenor will struggle to meet its 2025 capex-cutting ambitions for the Nordics amid headwinds, e.g. the ongoing fibre roll-out. Longer-term, we struggle to get excited about easing capex requirements, particularly in Norway, where competitive pressure is only likely to ratchet up. However, we have raised our target price to NOK125 (110).

Russell Waller
  • Russell Waller

Telenor (Buy, TP: NOK180, +32%) Telenor – Target up to NOK180, +32%, ...

Telenor has been a good YTD performer, with the shares +17%. This has been in the large part driven by the impressive share price performance of TRUE, >100% YTD. We recently held an NDR with TRUE management (HERE) and continue to be very bullish on the outlook. Following those meetings we are lifting our target on TRUE to THB18/share from THB15/share.

ABGSC Telecom Operators Research ... (+4)
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Ben Rickett ... (+3)
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  • Russell Waller

EU TELECOMS REFRESH: Can the outperformance continue?

When was the last time we could write that the EU Telecoms sector has been the second best performing sector in the market YTD? As a result, this raises the question of whether the outperformance can continue. We believe regulation will ultimately determine the answer to this question.

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