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SFR Revenues Up Nearly 10% on Neuf Cegetel Consolidation

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French mobile network operator, SFR has reported that its revenues for the first nine months of the year rose by 9.6% to EUR9.23 billion (USD13.8 billion) compared to the same period in 2008, due to the consolidation of Neuf Cegetel since April 15, 2008. On a comparable basis SFR's revenues decreased by 0.5%.

Mobile revenues amounted to EUR6.7 billion (USD10 billion), a 0.5% decrease compared to the same period 2008.

SFR is currently 56% owned by the French group Vivendi and 44% by mobile phone giant Vodafone.

The data part in Mobile service revenues increased from 17% in 2008 to 23% for the first nine months of 2009. The growth in the customer base and data revenues (+34% compared to September 2008 due to unlimited SMS and MMS offers and mobile Internet development) was offset by the impact of the economic slowdown on the roaming traffic and out of bundle usage and also by the impact of a mobile voice termination regulated price cut.

For the first nine months of 2009, SFR added approximately 573,000 new net mobile customers. The customer base reached 14.413 million postpaid customers at the end of September 2009

The company sold 385,000 iPhones sold in less than six months.

Broadband Internet and fixed revenues reached EUR2,796 million, decreasing by 3.3% on a comparable basis compared to the same period in 2008. Excluding the impacts of the decrease in switched voice revenues, regulatory changes and the sale of assets of Club Internet network, broadband Internet and fixed revenues increased by 2.4%.

With a 32% net increase in market share in the quarter, SFR once again continued to perform well in the ADSL segment for the fourth successive quarter. For the first nine months of the year, the net growth of new active broadband Internet customers amounted to 404,000. At the end of September 2009, SFR broadband Internet customer base increased by 14.7% compared to the same period in 2008 and totaled 4.283 million customers.

SFR's EBITDA amounted to EUR3,027 million, down by EUR169 million on a comparable basis. SFR's EBITDA included notably the additional tax created by the French government to finance the state-owned audiovisual sector reform.

SFR's mobile EBITDA decreased by EUR165 million year-on-year to EUR2,529 million. This decline was mainly due to the imposition of additional taxes and regulated cuts.

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