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ABOUT TELENOR NEWS NEWS AND PRESS RELEASES FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2009
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Financial results for the second quarter of 2009

 July 23, 2009 - Telenor Serbia recorded revenues of RSD7.92 billion (EUR84.34 million) in the second quarter of 2009, or 1% more year-on-year, mostly owing to revenues from new postpaid subscriptions.

The EBITDA margin was reduced by 4% in local currency, mainly as a result of increased handset subsidies as well as maintenance and support fees. Capital expenditure decreased by 15% due to reduced network investments in the second quarter.

Telenor’s subscription base in Serbia now stands at 2,831,000, upon a stricter calculation method, including only subscriptions that regularly generated revenues in the previous three months.