reports
Telenor Group’s results invitation for the 2nd quarter 2025
Telenor Group’s results invitation for the 2nd quarter 2025 Join us for Telenor Group’s results for the 2nd quarter 2025The presentation will be held at 0900 CET / 0800 UK Join us for Telenor Group’s results for the second quarter 2025 When: Friday 18 July, 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 in the coffee area in Telenor Expo, Snarøyveien 30, Fornebu. The media session wil...
Invitasjon til Telenors resultatfremleggelse for andre kvartal 2025
Invitasjon til Telenors resultatfremleggelse for andre kvartal 2025 Telenor legger frem resultater for andre kvartal 2025 Når: Fredag 18. juli kl 9.00 For å se webcast, uten å stille spørsmål, bruk denne linken: eller besøk Telenor.com/investors. For presse: Presse inviteres til å delta på presentasjonen av Telenors kvartalsresultater på hovedkontoret. Presentasjonen vil være tilgjengelig via virtuell direktesending og vil bli etterfulgt av en-til-en-intervjuer fra kl 10.30 i kaffeområdet i Telenor Expo, som ligger i Snarøyveien 30E, 1360 Fornebu. For mer informasjon, vennligst sen...
- ABGSC Telecom Operators Research
- Herman Caspersen
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- ABGSC Strategy Research
- Bengt Jonassen
- ABGSC Telecom Equipment Research
- Oscar Rönnkvist
- Simon Granath
Telenor ASA: 1 director
A director at Telenor ASA bought 3,247 shares at 154.000NOK and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...
Odfjell SE: 1 director
A director at Odfjell SE bought 750,516 shares at 103.000NOK and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly ...
- ABGSC Telecom Operators Research
- Herman Caspersen
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Jørgen Lian
Odfjell SE (Buy, TP: NOK170.00) - Gear up for renewed momentum
We believe the low 3% swing tonnage and solid tanker outlook on increased OPEC+ volumes, an ageing fleet, and modest supply growth, along with higher chemical volumes, point to a strong chemical tanker outlook. We estimate a 2025 earnings yield of 26% and find Odfjell attractive at an average 2025–2026e P/E of 3.5x (tanker peers: 5.8x). We reiterate our BUY, but have cut our target price to NOK170 (180), mainly due to FX effects.
- Christoffer Wang Bjørnsen
Telenor (Sell, TP: NOK142.00) - Mixed set of results
While Telenor reported decent Q1 headline results adjusted for a one-off VAT provision in Norway, slightly above consensus and our estimates, the FCF beat was seemingly driven by lower-quality transitory tailwinds, leaving us still uncertain about its ability to cover its dividends with underlying FCF before M&A this year and in 2026. Thus, given our view of a stretched company and sector valuation, we reiterate our SELL, while we have raised our target price to NOK142 (140).
- ABGSC Telecom Operators Research
- Herman Caspersen
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Chris Hoare
Telenor (Buy, TP: NOK 183, +17%) Q1 25: Strong results support contin...
Telenor has reported a good set of Q1 numbers, with SR c0.5% ahead of consensus and EBITDA in line; 2025 guidance was re-iterated, which is now in line with consensus expectations, but we think this could be raised later in the year if the further OpEx efficiencies management are expecting are realised.
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ABGSC Telecom Operators Research
- Herman Caspersen
- Oscar Rönnkvist
- Øystein Elton Lodgaard
Steady course in turbulent times
Steady course in turbulent times Fornebu, Norway - May 6, 2025 - Telenor Group increased its revenues during a quarter of global economic instability due to fast-changing tariffs and geopolitical turmoil. This unpredictability has also created new business opportunities in the Nordics. First quarter highlights: Service revenues of NOK 16.1 billion in the quarterAdjusted EBITDA of NOK 8.6 billion in the quarterFree cash flow before M&A of NOK 3.0 billion in the quarter During the first quarter, Telenor delivered year-over-year organic growth in service revenues of 2.1 percent, and org...
Stø kurs i urolige tider
Stø kurs i urolige tider (Fornebu, 06. mai 2025) Telenor økte inntektene i et kvartal med global økonomisk ustabilitet grunnet skiftende tollpolitikk og geopolitisk uro. Denne uforutsigbarheten har også skapt nye forretningsmuligheter i Norden. Høydepunkter i første kvartal: Tjenesteinntekter på 16,1 milliarder kroner i kvartaletJustert EBITDA på 8,6 milliarder kroner i kvartalet Fri kontantstrøm før M&A på totalt 3,0 milliarder kroner i kvartalet I første kvartal leverte Telenor en organisk vekst i tjenesteinntekter på 2,1 prosent sammenlignet med første kvartal i fjor, og organisk EB...
- Niclas Gehin
Norsk Hydro (Sell, TP: NOK55.00) - Q1 shipments delayed to Q2
Norsk Hydro’s Q1 results fell somewhat short of market expectations (EBITDA 4% below consensus) and it cut its Extrusions guidance. A large share of the miss appears to reflect late shipments in the bauxite and alumina (B&A) segment following heavy rainfall, which should mean higher volumes in Q2. We have made only minor changes (-1–0%) to our 2026–2027e EPS. We continue to see downside risk to aluminium prices, and reiterate our SELL and NOK55 target price.
- ABGSC Metals & Mining Research
- Bengt Jonassen
- Martin Melbye
- ABGSC Metals & Mining Research
- Bengt Jonassen
- Martin Melbye
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