Strong Free Cash FlowSustained, material free cash flow (NOK 12.9bn FY25) underpins durable financial flexibility: it funds dividends, buybacks, debt reduction and strategic M&A without relying on capital markets. Persistent FCF supports long-term shareholder returns and balance sheet resilience across cycles.
Disciplined Capital Allocation & DeleveragingManagement is deploying True sale proceeds to boost buybacks, raise dividends and repay debt, and leverage sits within the 1.8–2.3x target. This indicates a credible, multi-year capital allocation framework that improves solvency and aligns management incentives with shareholder value creation.
Nordic Operational StrengthConsistent revenue and margin improvement in core Nordic markets (service revenue growth, ARPU uplift, high Sweden EBITDA margin) show a resilient domestic franchise. Stable Nordic cash flows and high EBITDA margins provide structural earnings durability and fund group-level investments.