Telenor Serbia financial results for Q1 2014
Telenor Serbia revenues in the first quarter of 2014 amounted to RSD 9.873 billion. Excluding the change in interconnect rates, revenues increased by 1% compared to the first quarter in 2013.
The subscriptions base is 3.1 million users, a decrease of 3% compared to the same period last year.
“The economic environment in Serbia in Q1 remained challenging. Though the competition in the market remains high, we have strengthened our market leadership and maintained healthy profitability”, says Erlan Netten, Chief Financial Officer of Telenor Serbia. “We remained focused on improving our Smart network, in terms of coverage, speed and safety, and providing innovative, easy-to-use services, Capture being the latest example. The investments in our network and services will continue, delivering superior customer experience”.
In the first quarter of 2014, Telenor Group reported the revenues of NOK 26.5 billion, representing an organic revenue growth of 1.5%. EBITDA, before other items, was NOK 9.3 billion, EBITDA margin was 35%, and operating cash flow was NOK 5.6 billion.