Ice Group listing on Oslo Axess photo Oslo Børs
Why invest in Ice Group ASA?

Why invest in Ice Group?

1: Norway is a highly attractive and growing mobile market of ~NOK 20bn with high entry barriers
  • Growth in both postpaid subscribers and total mobile market revenues
  • High and growing ARPU market and large mobile data upside compared to rest of the Nordics
  • High barriers to entry and regulatory support for a competitive third nationwide network operator that can challenge the incumbents
2: Ice is a low cost operator with structural advantages and strong scalability
  • Large, long-term frequency portfolio (21% of available mobile phone and MBB frequencies) and a strong challenger position in the Norwegian market
  • Nationwide, scalable 5G-ready network roll-out expected to drive margins up due to increasing on-net shares reducing the roaming cost to other operators
  • Zero technology or network legacy issues allow structural cost advantages with significant operating leverage
3: Ice has demonstrated solid recurring revenue growth with prudent pricing strategy
  • Winning market share and building a strong base of recurring revenues
  • Amongst Europe’s fastest growing mobile operators
  • Significant growth opportunity in the high ARPU segment and new tools available to address it (Handset- as-a-service, Data freedom, HD voice, Handset vendor agreements, B2B offering)


Ice Group has defined four medium-term targets that will ensure solid value creation:

Medium term targets hvit 22 10 2019