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ABOUT TELENOR NEWS NEWS AND PRESS RELEASES TELENOR SERBIA FINANCIAL RESULTS FOR Q1 2013
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Telenor Serbia financial results for Q1 2013

Belgrade, April 26, 2013 - Telenor Serbia revenues in the first quarter of this year amounted to RSD 10.064 billion, and were 7.8% higher than in the same quarter in 2012.

Our subscriptions grew to 3.2m, an increase of 3.3% compared to the first quarter last year. After the network modernization, completed during the first quarter in 2012, capital expenditures in 2013 continue at a slower pace, still focusing on further expansion and improvement of the network.
 
„Our operations are still significantly affected by the developments in the Serbian economy, and the competition in the market. Within this challenging environment, we are continuing our top line growth, and further developing our market position. The investments in our network and information systems will continue, delivering further improvements in the speed, availability and diversity of our services.” Says Erlan Netten, Chief Financial Officer of Telenor Serbia.
 
In the first quarter of 2013, Telenor Group reported revenues of NOK 24.7 billion. EBITDA before other items was NOK 8.42 billion, EBITDA margin was 34 %, and operating cash flow was NOK 5.6 billion.