Telenor has reported that its first quarter pro forma revenues (including Kyivstar) increased by four percent compared to the first quarter of 2007, reaching NOK 26.3 billion (US$5.15 billion). Underlying revenues increased by seven percent in the same period. The EBITDA margin before other income and expenses was 35.1 per cent in the first quarter of 2008, up from 34.8 per cent in the first quarter of 2007.
First Quarter EBITDA reached NOK 7.12 billion (US$1.39 billion) - although the average forecast in a Reuters poll of 16 analysts had expected NOK 7.34 billion (US$1.41 billion). Adjusted profit reached NOK 5.545 billion (US$1.09 billon).
Telenor's operations added more than four million subscriptions during the first quarter.
"In the first quarter of 2008 we saw continued underlying revenue growth combined with a stable EBITDA margin. The appreciation of the Norwegian Krone puts pressure on our reported revenue growth. The number of subscriptions in our mobile operations reached 147 million, mainly contributed by continued high net additions in Pakistan, Bangladesh and Thailand," said President and CEO of Telenor, Jon Fredrik Baksaas.
Central and Eastern Europe
"Kyivstar in Ukraine has delivered an outstanding performance with high growth both in revenues and profits, combined with a solid cash flow. Kyivstar confirms its position as market leader with the most valuable consumer brand in Ukraine," Baksaas said.
Asia
"In Asia, we see a more turbulent business environment with a significant increase in prices for basic goods, such as rice and fuel, affecting purchasing power. This also affects inflation and general cost levels in the region. In spite of these challenges, our operations are performing well this quarter. Strong competition and high market growth in Bangladesh will continue to put pressure on ARPU and margins in Grameenphone," Baksaas said.
Nordic
"In our mobile operation in Norway we maintain a strong focus on operational excellence. We delivered a solid underlying growth of five per cent in retail revenues, offsetting most of the reduction in wholesale revenues. The EBITDA margin has significantly improved from the previous quarter, reflecting implementation of efficiency measures," Baksaas said.
Posted to the site on 30th April 2008
Posted to: www.cellular-news.com/story/30871.php