Telenor Q1 Net Income Triples, Outlook Cut

Telenor Q1 income rose to NOK 8.21 bn, tripling YoY, thanks to a NOK 12.2 bn True Corp stake sale.
Adjusted EBITDA slipped 0.3% to NOK 8.05 bn, while organic service revenue grew 1.6% and capex fell 7.4% to NOK 2.28 bn.
The group cut its 2026 organic EBITDA growth outlook to flat‑to‑low‑single‑digit, citing tougher competition in Finland and Iran‑war‑related energy shortages in Bangladesh.
A NOK 15 bn three‑year share buyback begins Q2, leverage improves to 1.20× and ROCE drops to 4.8% after CelcomDigi impairment.