Telenor Q2 adjusted EBITDA falls 4.8% to NOK 7.99 billion; service revenue drops 0.7% to NOK 14.68 billion

• Telenor posted Q2 service revenues of NOK 14.68 billion, down 0.7% year on year; adjusted EBITDA fell 4.8% to NOK 7.99 billion.
• Free cash flow before M&A reached NOK 1.82 billion, while total free cash flow was NOK 2 billion.
• Results were hit by tough year-ago comps, timing of commercial initiatives, ramp-up costs for resilience and IT transformation, weaker Norway trends and Bangladesh macro pressure.
• Security push continued, including a EUR 6.5 million KNL contract with Finland’s defence forces; Telenor also launched Telenor Sovereign Cloud.
• 2026 outlook was cut, with Nordic service revenue growth seen flat to low single-digit and free cash flow before M&A guided around NOK 10 billion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Telenor ASA published the original content used to generate this news brief on July 16, 2026, and is solely responsible for the information contained therein.