Telenor Serbia financial results for Q2 2015
Telenor Serbia revenues in the second quarter of 2015 amounted to RSD 11.3 billion, continuing the company’s positive year-over-year development. Following the establishing of SMS interconnection and introduction of handset financing, this represents an increase of 11% compared with the second quarter in 2014. The subscriptions base is 3.1 million users, which is 0.3% increase compared with the same period last year.
“The Serbian economy continues to have a challenging outlook which is, along with decreasing termination rates, impacting the overall telecommunications market. Nevertheless, Telenor maintains its strong market leadership and healthy performance and continues investing in the local economy. Through responsible operations in all aspects of our business, we have become an integral part of the society and will continue to contribute to the further development of digital technologies, telecommunications industry, and the economic growth in Serbia. We remain dedicated to customers’ needs and enhancing the quality of our services and products, pushing innovation on the market by introducing integrated telco-banking offers of Telenor Banka and Telenor,” says Erlan Netten, Chief Financial Officer of Telenor Serbia.
In the second quarter of 2015, Telenor Group reported revenues of NOK 30.2 billion and organic revenue growth of 6%. EBITDA before other items was NOK 10.6 billion, the EBITDA margin 35% and operating cash flow NOK 4 billion.