Telenor Serbia revenues in the third quarter of 2014 amounted to RSD 11.1 billion. Excluding the change in interconnect rates, revenues increased by 1% compared to the third quarter in 2013. The subscriptions base is 3.2 million users, which is a flat development compared to the same period last year.
“The opening of Telenor banka in September, which is the first of its kind in the region, is a significant development in both telecommunication and banking industries and one which offers our customers truly innovative services”, says Erlan Netten, Chief Financial Officer of Telenor Serbia. “The broader economy, together with the telecommunication industry, continues to face significant challenges, with the impacts of the flooding being evident. We remain focused on strengthening our market leadership and maintaining healthy profitability levels which will be delivered by continuing to offer customers the innovative and high quality services with superior experience”.
In the third quarter of 2014, Telenor Group reported revenues of NOK 27.7 billion, representing an organic revenue growth of 3.5%. EBITDA, before other items was NOK 10.3 billion, EBITDA margin was 37%, and operating cash flow was NOK 6.3 billion.