Telenor Serbia boosts Q1 2014 revenue

Telenor Serbia announced Wednesday that its revenues in the first quarter of 2014 had amounted to RSD 9.873 billion. Excluding the change in interconnect rates, revenues increased by 1% compared to the first quarter in 2013, Telenor Serbia said in a release. The subscriptions base is 3.1 million users, a decrease of 3% compared to the same period last year. - The economic environment in Serbia in Q1 remained challenging. Though the competition in the market remains high, we have strengthened our market leadership and maintained healthy profitability - says Erlan Netten, Chief Financial Officer of Telenor Serbia, pointing out that the investments in their network and services will continue. Telenor Serbia is part of the Telenor group, one of the world's largest mobile operators with 172 million subscribers in 13 countries. In the fourth quarter of 2013, Telenor Group reported the revenues of NOK 26.5 billion, representing an organic revenue growth of 1.5%. EBITDA, before other items, was NOK 9.3 billion, EBITDA margin was 35%, and operating cash flow was NOK 5.6 billion.

Yettel d.o.o. Beograd

Telenor Serbia

Telenor group

Erlan Netten