Telenor ASA Cash Flow Statement

Financials in millions NOK. Fiscal year is January - December.

Millions NOK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	41,232	26,944	47,668	39,795	91,435	20,770
Depreciation & Amortization	16,937	17,304	16,944	17,528	28,217	34,363
Other Adjustments	-3,745	4,033	-8,261	-6,333	-27,345	2,735
Changes in Income Taxes Payable	-3,760	-3,727	-3,783	-2,062	-5,977	-6,113
Changes in Other Operating Activities	-654	140	2,748	89	-1,389	905
Operating Cash Flow	29,393	31,222	31,481	29,120	39,222	42,272
Operating Cash Flow Growth	-3.60%	-0.82%	8.11%	-25.76%	-7.22%	-3.53%
Capital Expenditures	-10,897	-11,338	-12,929	-14,728	-19,298	-19,447
Sale of Property, Plant & Equipment	81	85	45	60	199	161
Purchases of Investments	-	-68	-90	-7,008	-31	-150
Proceeds from Sale of Investments	-	97	53	140	1,639	2,582
Payments for Business Acquisitions	-756	-794	-249	-1,806	-991	-391
Proceeds from Business Divestments	33,342	2,949	2,138	5,045	-4,662	17
Other Investing Activities	-1,094	-769	-454	-	-	-
Investing Cash Flow	20,676	-9,838	-11,486	-18,297	-23,145	-17,228
Long-Term Debt Issued	7,964	18,079	6,278	20,091	20,956	26,470
Long-Term Debt Repaid	-	-13,494	-13,877	-11,068	-21,044	-29,399
Net Long-Term Debt Issued (Repaid)	7,964	4,585	-7,599	9,023	-88	-2,929
Repurchase of Common Stock	-121	-195	-1,971	-1,779	-27	-
Net Common Stock Issued (Repurchased)	-121	-195	-1,971	-1,779	-27	-
Common Dividends Paid	-13,135	-13,135	-13,082	-13,017	-13,015	-12,595
Other Financing Activities	-6,258	-6,456	-6,739	4,180	-10,854	-12,378
Financing Cash Flow	-11,551	-15,202	-29,391	-1,534	-23,984	-27,903
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-403	-27	-78	612	600	-245
Net Cash Flow	38,114	6,155	-9,474	9,902	-7,308	-3,103
Free Cash Flow	18,496	19,884	18,552	14,392	19,924	22,825
Free Cash Flow Growth	-6.98%	7.18%	28.90%	-27.77%	-12.71%	-8.04%
FCF Margin	23.51%	25.98%	24.58%	17.89%	25.92%	23.49%
Free Cash Flow Per Share	13.52	14.53	13.48	10.37	14.24	16.31
Levered Free Cash Flow	23,787	13,998	13,717	23,584	46,378	8,307
Unlevered Free Cash Flow	16,553	15,646	18,057	-49,199	21,575	20,919

Updated Apr 27, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.