Solid 2024, on the right track for 2025

Core Insights - Telenor Group reported solid results in Q4 2024, with stronger cash flow than previously indicated, and proposed a dividend of NOK 9.60 per share for 2024 [1][7] Financial Performance - Organic service revenues grew by 1.1% in Q4 2024, while organic EBITDA increased by 2.0%, with EBITDA before other items reaching NOK 8.5 billion [1] - Free cash flow before M&A for Q4 was NOK 3.1 billion, totaling NOK 11.4 billion for the entire year, exceeding the annual outlook [6] - Total free cash flow, including M&A income of NOK 1.9 billion, amounted to NOK 13.3 billion [6] Regional Performance - In the Nordics, Telenor achieved 2.3% organic growth in service revenues and 6.0% organic EBITDA growth due to efficiency initiatives [3] - Nordic service revenues grew by 4.6% for the full year, with total service revenues reaching NOK 44.7 billion [9] - Bangladesh faced slow economic recovery post-unrest, but Telenor's team demonstrated resilience [5] Strategic Direction - The company aims for a free cash flow of around NOK 13 billion for the current year, before M&A and potential items [7] - Telenor's strategy focuses on evolving as a customer-centric and technology-driven company while maintaining a strong dividend policy [8] Digital Crime Prevention - Telenor successfully prevented over 2.2 billion digital crime attempts against Norwegian customers throughout 2024 [10]