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ABOUT TELENOR NEWS NEWS AND PRESS RELEASES FINANCIAL RESULTS FOR Q4 2010
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Financial results for Q4 2010

February 08, 2011 – In the fourth quarter of 2010 Telenor Serbia made revenues in the value of 9.26 billion dinars which is 14 per cent more than in the same quarter of 2009.

The number of users of Telenor Serbia, which is operating within the Norwegian Group, has grown by 23,000 to 3,007,000 and Telenor’s SIM market share on the Serbian mobile telephony market stands at 35 per cent.

“We are very pleased with the 14% revenue increase in Q4 YoY which helped us to further strengthen our position on the Serbian market. This strong revenue increase together with our constant efforts to improve our efficiency led to a 3pp. increase in our quarterly EBITDA margin. By more than 160 thousand new customers selecting Telenor Serbia as their mobile phone service provider in 2010 we are proud to report that the number of our subscribers exceeded 3 million, lifting our SIM market share above 35%”, says Gabor Kocsis, Telenor Serbia Chief Financial Officer.
 
On the global level, in Q4 2010 Telenor earned revenues worth 24.9 billion NOK, which is eight per cent above that for the same period last year.
 
Operating profits reached the level of 7.2 billion NOK. During the fourth quarter the number of Telenor mobile users grew by 8 million, and is now equal to 199.4 million.

“Telenor has confirmed its position as one of the telecommunications companies with the fastest growth in Europe, with organic growth of 8% and exceptional operational results. In 2010 Telenor Group achieved operational cash flow of 18 billion NOK and outstanding EBITDA margin”, said Jon Fredrik Baksaas, Chairman and CEO of Telenor Group.