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ABOUT TELENOR NEWS NEWS AND PRESS RELEASES FINANCIAL RESULTS FOR Q3 2011
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Financial results for Q3 2011

October 26, 2011 - Telenor Serbia recorded revenues of RSD 10.247 billion in the third quarter of this year, or nearly 11% more than in the same period in 2010.

The number of subscriptions of Telenor in Serbia, which operates within the Norwegian Telenor Group, rose by 77,000 and now is nearly 3,138,000. Telenor’s revenue market share in Serbia is now over 40%. 

“Subscribers continued to respond positively to our market offerings which strengthened our market position further. We are sustaining the top line development along with strong cost efficiency, leading to strong operational performance,” says Erlan Netten, Chief Financial Officer of Telenor Serbia.

At the global level, Telenor reported revenues of NOK 24.6 billion in the third quarter of 2011, representing an organic revenue growth of 7%. EBITDA before other items was NOK 8.3 billion, EBITDA margin was 34 per cent, and operating cash flow was NOK 5.5 billion. In the second quarter, the number of subscriptions of Telenor rose by more than 5 million.