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ABOUT TELENOR NEWS NEWS AND PRESS RELEASES TELENOR SERBIA FINANCIAL RESULTS FOR Q1 2015
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Telenor Serbia financial results for Q1 2015

Telenor Serbia revenues in the first quarter of 2015 amounted to RSD 10.5 billion, continuing the company’s positive YoY development and exhibiting an increase of 6% compared with the first quarter in 2014. The subscriptions base is 3.2 million users, which is a 1.9% increase compared with the same period last year.
 
“Despite the decreased domestic interconnection mobile termination rates and the slowing down of the Serbian economy, which had negative overall impact on the market, Telenor’s strong revenue market leadership in Serbia persists. We are committed to the development of the telecommunications industry in Serbia and the general economic growth. The recent purchase of spectrum confirms our long-term commitment to the development of the Serbian market. Our strategy remains to provide the best network experience for our customers, and the introduction and rollout of 4G is an important element of that journey. We will remain dedicated to delivering the latest innovative and easy-to-use products and services for our customers, with a special focus on integrated offerings from Telenor Banka and Telenor”, says Erlan Netten, Chief Financial Officer of Telenor Serbia.
 
In the first quarter of 2015, Telenor Group reported revenues of NOK 30.2 billion, representing an organic revenue growth of 7.6%. EBITDA before other items was also at an all-time high of NOK 10.6 billion. The EBITDA margin was 35% and operating cash flow was NOK 6 billion during the quarter. Net income was NOK 4.1 billion, implying earnings per share of NOK 2.70.