Telenor Q4 core profit in line with expectations

OSLO (Reuters) -Norwegian telecoms operator Telenor on Wednesday reported fourth-quarter core operating earnings in line with expectations and said it expected low single-digit organic sales growth in Nordic service revenues in 2024.

Adjusted earnings before interest, tax, depreciation and amortisation for October-December rose to 8.5 billion crowns ($804.41 million) from 8.0 billion a year earlier, while analysts in a company-provided poll on average had expected 8.6 billion.

Telenor proposed a dividend of 9.50 crowns per share for 2023, up from 9.40 crowns for 2022.

In 2024, and for its core Nordic markets, the company said for the first time it expected low single-digit organic growth in service revenues, mid-single digit organic growth in EBITDA and a capital-expenditure-to-sales ratio of around 17%.

The Norwegian group in December announced the planned sale of its Pakistan unit for 5.3 billion crowns.

On Monday Telenor said it would book an 8.04 billion crown non-cash impairment related to its stake in True Corp after the share price of the Thai company had fallen.

($1 = 10.5667 Norwegian crowns)

(Reporting by Gwladys Fouche; Editing by Anna Ringstrom and Michael Perry)