Finance
Telenor targets low-to-mid single-digit growth in Nordic core earnings until 2030
Published by Global Banking & Finance Review®
Posted on November 11, 2025
1 min readLast updated: January 21, 2026
Quick Summary
Telenor forecasts low-to-mid single-digit growth in Nordic earnings by 2030, supported by stable costs and increased service revenue.
Telenor Aims for Steady Nordic Core Earnings Growth Through 2030
(Reuters) -Norway's Telenor expects its organic core earnings from the Nordic region to grow by a low-to-mid single-digit percentage per year until 2030, the telecom operator said on Tuesday ahead of its investor day.
Growth in earnings before interest, taxes, depreciation and amortisation will be supported by stable or declining operating costs, Telenor added.
It also expects yearly organic service revenue in the Nordic countries, which form its core business region, to grow by a low single-digit percentage on average until 2030.
For 2026, it estimated mid-single-digit organic EBITDA growth for the Nordics, and said it would provide a full annual guidance when it reports fourth-quarter results in February.
As of the end of September, Telenor had recorded organic core profit growth of 8.8% in the Nordics. It has guided for 8–9% growth for the full year.
"For 2026, consensus Nordic EBITDA estimates need to move higher to align with (the mid-single-digit) guidance," analysts from J.P. Morgan said in a research note.
Telenor's policy of annually increasing dividends per share remains unchanged, it said.
(Reporting by Elviira Luoma in Gdansk, editing by Milla Nissi-Prussak)
Key Takeaways
- •Telenor aims for low-to-mid single-digit growth in Nordic earnings until 2030.
- •Stable or declining operating costs will support earnings growth.
- •Organic service revenue in Nordic countries to grow annually.
- •Mid-single-digit EBITDA growth expected in 2026.
- •Telenor maintains its policy of increasing dividends annually.
Frequently Asked Questions about Telenor targets low-to-mid single-digit growth in Nordic core earnings until 2030
1What is EBITDA?
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a financial metric used to evaluate a company's operating performance by measuring its profitability before accounting for non-operational expenses.
2What is organic growth?
Organic growth refers to the increase in a company's revenue generated from its existing operations, excluding any revenue from mergers or acquisitions. It reflects the company's ability to grow through its own resources.
3What are dividends?
Dividends are payments made by a corporation to its shareholders, usually in the form of cash or additional shares. They represent a portion of the company's earnings distributed to investors as a return on their investment.
