Telenor targets low-to-mid single-digit growth in Nordic core earnings until 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)