Telenor ASA (TELNY) Q4 2024 Earnings Call Transcript

2025-02-09 12:58:01 ET

Telenor ASA (TELNY)

Q4 2025 Earnings Conference Call

February 06, 2025 03:00 AM ET

Company Participants

Frank Maao - Head of IR and SVP of Capital Markets

Benedicte Fasmer - President & CEO

Torbjorn Wist - Executive VP & CFO

Conference Call Participants

Maurice Patrick - Barclays Bank

Keval Khiroya - Deutsche Bank

Ondrej Cabejsek - UBS

Andrew Lee - Goldman Sachs

Joshua Mills - BNP Paribas Exane

Adam Rumley - HSBC

Felix Henriksson - Nordea Markets

Ulrich Rathe - Bernstein

Christoffer Wang Bjornsen - DNB

Oystein Lodgaard - ABG Sundal Collier

Presentation

Frank Maao

Good morning, and welcome to Telenor's Fourth Quarter Results Call. I'm Frank Maao, Head of Investor Relations. And today, I'm happy to introduce our new Group CEO, Benedicte Schilbred Fasmer; and our new Group CFO, Torbjorn Wist.

We have quite a bit of ground to cover today along the same lines as usual, but with some additional color on the first impressions and priorities of Benedicte and Torbjorn. Before we kick off, a couple of housekeeping items. So as always, in the presentation today, all numbers are in Norwegian kroner, and growth rates are referred to on an organic like-for-like currency basis. And for those who wish to ask questions in our video Q&A after our prepared remarks, please try and turn on your camera and please limit yourself to one question and related follow up.

With that, I'd like to hand over to you, Benedicte.

Benedicte Fasmer

Thank you so much, Frank. Good morning, and thank you so much for tuning into our call. I've been the CEO in Telenor for altogether nine weeks. And as new to Telenor, I bring perspectives and experiences from my background in other industries, including banking, capital markets and the fast-moving consumer goods industry. I'm also very fortunate to have a broad experience from Boards as well as being a CEO for the last four years. A common thread has been a passion for working with technology and people to transform and improve customer experiences and drive results. And my top priority is our customers. And from the picture on this slide, you can see me engaging with customers on the very first day at work in Telenor.

I have a very strong commitment to shareholder remuneration, but also capital management, and I can assure you that return on capital will be front and center in capital allocation decisions. In getting to know Telenor, one of the things that have impressed me the most is the quality and the competence of the people. The execution culture, our strong commitment to excellence in secure connectivity as well as our long and proud history. And this has left me with very high expectations for the time ahead, and I'm looking forward to work with my new colleagues to chase further potential in monetizing pockets of growth and transforming customer experiences.

So let's take a look at our key priorities for 2025. Since the Capital Markets Day 2.5 years ago, we have made good progress in executing on our strategy. And this team -- this year, sorry, my team and I will have two main tasks: the execution on 2025 as the final year of our current strategy, whilst making sure we evolve our strategy for the years ahead. And we will get back to you on the outcome of this process at the Capital Markets Day in Q4....

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