Telenor (OSL: TEL) financial statements
The consolidated income statement, balance sheet and cash flow statement of Telenor for its last 6 fiscal years, as filed with the regulator, in millions of Norwegian kroner. At the end of fiscal 2025 it had NOK 221,651m in total assets and NOK 70,479m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | NOK 76,548m | NOK 79,928m | NOK 80,452m | NOK 98,953m | NOK 110,241m | NOK 115,839m |
| Operating profit | NOK 17,978m | NOK 18,623m | NOK 16,964m | NOK 17,346m | NOK 21,506m | NOK 27,984m |
| Finance costs | NOK 3,692m | NOK 4,416m | NOK 4,264m | NOK 2,901m | NOK 3,553m | NOK 4,081m |
| Profit before tax | NOK 13,472m | NOK 23,834m | NOK 19,898m | NOK 10,732m | NOK 17,084m | NOK 24,292m |
| Income tax | NOK 4,364m | NOK 3,725m | NOK 4,332m | −NOK 2,914m | NOK 5,740m | NOK 6,419m |
| Net profit | NOK 7,034m | NOK 18,336m | NOK 13,734m | NOK 44,913m | NOK 1,528m | NOK 17,341m |
| Earnings per share | NOK 5.14 | NOK 13.32 | NOK 9.90 | NOK 32.09 | NOK 1.09 | NOK 12.32 |
| Diluted earnings per share | NOK 5.14 | NOK 13.32 | NOK 9.90 | NOK 32.09 | — | — |
| Depreciation and amortisation | NOK 16,312m | NOK 16,871m | NOK 16,535m | NOK 23,269m | NOK 25,868m | NOK 26,298m |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Total assets | NOK 221,651m | NOK 228,808m | NOK 218,376m | NOK 239,249m | NOK 225,740m | NOK 256,529m |
| Current assets | NOK 31,934m | NOK 27,453m | NOK 39,756m | NOK 32,182m | NOK 43,843m | NOK 50,065m |
| Inventories | NOK 862.0m | NOK 877.0m | NOK 955.0m | NOK 1,559m | NOK 1,563m | — |
| Property, plant and equipment | NOK 51,552m | NOK 54,678m | NOK 51,631m | NOK 65,659m | NOK 72,767m | NOK 79,367m |
| Goodwill | NOK 26,822m | NOK 26,319m | NOK 25,232m | NOK 27,334m | NOK 27,448m | NOK 28,947m |
| Cash | NOK 16,335m | NOK 10,380m | NOK 19,556m | NOK 9,677m | NOK 16,985m | NOK 20,088m |
| Current liabilities | NOK 46,285m | NOK 46,384m | NOK 45,990m | NOK 53,777m | NOK 62,167m | NOK 60,536m |
| Equity | NOK 70,479m | NOK 75,855m | NOK 64,483m | NOK 60,139m | NOK 26,294m | NOK 38,324m |
| Equity including minorities | NOK 75,629m | NOK 81,772m | NOK 70,434m | NOK 64,375m | NOK 31,500m | NOK 43,918m |
| Minority interests | NOK 5,150m | NOK 5,917m | NOK 5,951m | NOK 4,237m | NOK 5,206m | NOK 5,594m |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | NOK 31,222m | NOK 31,481m | NOK 29,120m | NOK 39,222m | NOK 42,272m | NOK 43,820m |
| Investing cash flow | −NOK 9,838m | −NOK 11,486m | −NOK 18,297m | −NOK 23,145m | −NOK 17,228m | −NOK 10,565m |
| Financing cash flow | −NOK 15,202m | −NOK 29,391m | −NOK 1,534m | −NOK 23,984m | −NOK 27,903m | −NOK 27,583m |
Where each figure comes from
From the annual report Telenor files every year in the European single electronic format (ESEF). The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Telenor page.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.