The following is a summary of the Telenor ASA (TELNY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Telenor ASA reported a 6% growth in service revenue and a 7% growth in EBITDA in Q1 2024.

• It generated a total free cash flow of NOK5.4 billion in the same quarter.

• Positive financial growth was attributed to revenue growth, cost discipline in the Nordic region, and cash flow focus in Asia.

• The strong Q1 results in the Nordic operation were better than expected.

• The company is on track to meet its full-year and midterm financial targets.

Business Progress:

• Telenor showed strong growth in the Nordic region as all business units contributed to revenue and EBITDA.

• The company has outlined a new cloud-native technology transformation program and formed a joint venture, Skygard, to launch new data centers by H1 2025.

• The Asian operations are focusing on synergy realization and cash repatriation, aligning with the target of generating NOK5 billion in free cash flow from Asia in 2025.

• A partnership has been confirmed with NVIDIA to enhance Telenor's data centers, aiding in Telenor Nordics' transformation.

• The company plans to concentrate its efforts on cost management, exploring profitable ventures, and growing operational leverage in response to customer churn due to price increases.

• There's anticipation of a positive regulatory change allowing more access to the fixed market and contributing to potential cost savings.

• It is planning a more wholesale-oriented business approach in response to changing fiber conditions.

• Telenor foresees deregulation positively impacting revenue generated on its mobile towers and looks forward to the lifting of national roaming regulations.

• Notwithstanding the divestment of Telenor Pakistan, the company aims to keep its cash flow targets consistent, with the ambition to resume dividends by 2025.

More details: TELENOR ASA ADR EACH REPR 1 ORD NOK6 SPON IR

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