Telenor Reports Q2 Revenues Up 3%

In the second quarter of 2008, Telenor has reported that its pro forma revenues (including Kyivstar) increased by three per cent compared to the second quarter of 2007, reaching NOK 27.2 billion (US$5.31 billion). Underlying revenues increased by seven per cent in the same period. Pro forma EBITDA before other income and expenses was NOK 9.3 billion (US$1.82 billion).

Telenor's mobile operations added six million subscriptions during the second quarter.

"The overall trends seen in the first quarter continued into the second quarter with a solid underlying revenue growth combined with a stable margin. The number of subscriptions in our mobile operations reached 153 million at the end of the quarter, with the growth mainly coming from Bangladesh, Pakistan and Thailand," said President and CEO of Telenor, Jon Fredrik Baksaas.

Central and Eastern Europe

"Kyivstar continued to consolidate its position as the strong market leader in Ukraine and confirmed the impressive performance from previous quarters with excellent results also for the second quarter," Baksaas said.

Asia

"The tendencies seen in the previous quarter with increased inflationary pressure have continued, in particular in Bangladesh, Pakistan and Thailand. Based on the increased challenges linked to macroeconomic conditions, we have adjusted our reported revenue outlook for 2008 slightly, while our overall underlying revenue expectations including Kyivstar remain at around six per cent," Baksaas said.

Nordic

"Our mobile operation in Norway has managed to maintain the improved financial performance, delivering a solid organic growth in retail revenues of six per cent for the first half 2008. In Sweden, we still see a challenging market. As a result of investments in taking a HDTV position, the margins in our Nordic broadcasting operations were affected by costs for media rights related to the European Football Championship 2008 in the second quarter," Baksaas said.

Posted to the site on 23rd July 2008