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ABOUT TELENOR NEWS NEWS AND PRESS RELEASES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND PRELIMINARY RESULTS FOR 2007
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Financial results for the fourth quarter and preliminary results for 2007

Telenor world’s seventh largest mobile operator

Belgrade, Oslo, February 14, 2008 – In the last quarter of 2007, Telenor d.o.o. achieved revenues of RSD7.3 billion (EUR92.47 million), or 30 per cent more y-o-y.


The number of subscriptions rose by 83,000, to 2,924,000, as of December 31, 2007. This refers only to subscribers who continuously generated revenue in the three-month period, which represents a stricter calculation method. A subscriber market share of Telenor d.o.o. (share of activated SIM cards) is now 40 per cent.

“The overall revenues of Telenor d.o.o in 2007 stand at RSD29 billion, or EUR365 million. This growth in revenues is in accordance with our expectations from the beginning of last year, in spite of market changes resulting from the arrival of the third operator. We can boast with nearly 500,000 new subscribers in 2007, or close to 700,000 from the launch of operations, September 01, 2006. At an annual basis, RSD6.8 billion (EUR85 million) were invested,” says Gábor Kocsis, the CFO of Telenor d.o.o. 
 
Observed globally, with 30 million new subscriptions in 2007, Telenor is now ranked as the world's seventh largest mobile operator with a total of 143 million subscriptions in its mobile operations. The high underlying revenue growth continued in the fourth quarter of 2007.
Compared to the previous year, Telenor's revenues (including Kyivstar) increased by 15 per cent in 2007, to NOK 105 billion. Profit after taxes and minority interests increased by 13 per cent in 2007 compared to 2006, reaching NOK 18 billion. 
 
In the fourth quarter of 2007, revenues increased by 10 per cent compared to the same period last year, reaching NOK 27 billion (including Kyivstar). The EBITDA margin in the fourth quarter of 2007 was 32.8 per cent, compared to 33.4 per cent in the fourth quarter of 2006.

To see the finacial reports, please go to www.telenor.com/ir/reports/07q3www.telenor.rs and www.telenor.com/ir/reports/07q2.