"Telefonija" realized profit in amount of 57m RSD in 2007

Branimir Bošković, the CEO of Stock Company "Telefonija", pointed out on the occasion of submission of Business Report for year 2007 that the company's income amounted to 1 billion and 174m RSD, that the profit was at the level of 57m RSD and that, in spite of unfavorable trends on the market, the trend of growth of incomes and investments in equipment and facilities of gas infrastructure, of which results would be seen in the following period, had been continued.

Also, according to the announcement of "Telefonija", dependent companies achieved good business results - "Beotelnet" realized income in amount of 307m RSD and profit worth 14.5m RSD, "NSpoint" had income worth 30m RSD and profit in amount of about 2m RSD, "Telefonija Brčko" realized income amounting to 47m RSD and profit of 3m RSD.

Such business results enabled distribution of about 8m RSD from the total profit among the workers, while stockholders will increase their stock capital by 16.3% through distribution of 72,175 stocks without public offer.

Speaking about plans for year 2008, CEO Bošković pointed out that the projected income amounted to 1 billion and 422m RSD, that is, about 2 billion RSD when the incomes of dependent companies were included in the calculation. It is expected that dependent company “Gastel” will start gas distribution in 2008 on the basis of the contracted and partially completed works on gas introduction to municipalities of Subotica, Zvezdara, Obrenovac, Kovačica and Pančevo.

Secret voting for 11 proposed candidates at the meeting led to appointment of seven new members to the Administrative Board with one-year mandate. New members of the Board are: Prof Dr Dejan Erić, Nikola Ilić, Milan Nikolić, Nebojša Simović, Zoran Antić, Bojan Jocić and Goran Velagić.

the decision of the Administrative Board on organization of "Telefonija" as a business system was verified, which represented a new step towards both defining of the relations between the companies and strengthening of the roles of Administrative and Supervisory Board and more efficient control of work and operations in the stock company.

Among the series of the procedural decisions, "Telefonija" pointed to the ones about appearance on A listing of the Belgrade Stock Exchange and about the 13th issue of stocks for the sake of increase in capital, of which realization would depend on the trends on the Belgrade Stock Exchange.

The Assembly of stockholders of "Telefonija" was held on March 31, 2008. Total of 101 stockholders, who possess 311,401 stocks or 71.31% of total number of stocks, took direct part or participated through their trustees in the work of the Assembly.