Telenor Group president and CEO Sigve Brekke (pictured) explained the Norwegian group expects earnings to be flat or slightly higher in 2022 compared with 2021, a year he noted in an earnings statement was affected by the ongoing Covid-19 (coronavirus) pandemic.

Brekke stated Telenor remained focused on returning to growth this year, with the company predicting a low single-digit rise in service revenue. The operator also plans to hike its 2021 dividend payment by 3 per cent to NOK9.30 ($1.06) per share.

Growth has continued to elude the operator, which reported a 4.8 per cent decline in full year group revenue to NOK110.2 billion. Net income attributable to Telenor equity holders fell from NOK17.3 billion in 2020 to NOK1.5 billion.

Brekke insisted the operator had maintained a broadly solid performance despite the pandemic. He also noted modernising operations remains “a top priority” for Telenor, adding “structural initiatives” delivered savings of NOK1.2 billion.

The Telenor chief was bullish on the performance of key Nordic markets during Q4 2021, although he acknowledged markets in Asia remained under pressure because of intense competition and the impact of the pandemic.

Challenges for 2022 include an ongoing effort to exit Myanmar, with recent reports suggesting a proposed takeover of the unit by M1 Group is back on track. Telenor has already announced an agreement to sell its 51 per cent share in Wave Money to Yoma Strategic.

In Thailand, Telenor is pressing ahead with a proposed merger of dtac with Charoen Pokphand Group-owned True, a process the operator stated “is progressing according to plan”.

Brekke also highlighted recent tie-ups with Amazon Web Services and Google Cloud, which form part of Telenor’s efforts to seek new, revenue-generating services beyond connectivity.