FX.co ★ Telenor Q2 Net Income Rises; Organic Service Revenue Growth At 4.5%

Telenor (TELNY.PK, TELN) announced a second quarter net income attributable to equity holders of 2.5 billion Norwegian kroner, a substantial increase from the previous year's 821 million kroner. EBITDA, before factoring in other income and expenses, was recorded at 8.8 billion Norwegian kroner, which reflects an organic growth rate of 3.8 percent.

Service revenues reached 16.3 billion Norwegian kroner, marking an organic growth of 4.5 percent compared to the same period last year. Total revenues slightly decreased to 19.9 billion kroner from 20.2 billion kroner.

Looking ahead to 2024, Telenor anticipates a low-to-mid single-digit organic growth in Nordic service revenues, an update from the earlier projection of low single digits. Additionally, the company expects medium single-digit organic growth in both Nordic and Group EBITDA.