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ABOUT TELENOR NEWS NEWS AND PRESS RELEASES Q4 2013 FINANCIAL RESULTS
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Q4 2013 Financial results

February 12, 2014 - Telenor Serbia revenues in the last quarter of 2013 amounted to RSD 10.660 billion, representing a 1% growth compared with the same quarter in 2012.

The subscriptions base is 3.2 million users, a decrease of 1% compared with the same period last year. The level of capital investments remained strong in the last quarter of 2013, mainly driven by continuous capacity increase and coverage expansion in our networks.
 
“The economic environment in Serbia in Q4 continued to pose strong challenges to our top line, while the competition on the market remains intense. Even in such market conditions we are able to grow our top line and deliver healthy profitability”, says Erlan Netten, Chief Financial Officer of Telenor Serbia. “These results were mainly achieved by our resolve to remain focused on the innovative and new ways of serving our customers, highlighted by the purchase of KBC Banka. Further investments in our network and retail shops will ensure that we improve the availability, speed and ease of our services’ use and maintain a leading position in the telecommunications market”.
 
In the fourth quarter of 2013, Telenor Group reported the revenues of NOK 28 billion, representing an organic revenue growth of 1%. EBITDA, before other items, was NOK 8.99 billion, EBITDA margin was 32.6%, and operating cash flow was NOK 4.42 billion.