• 19% growth in revenues excluding gains to NOK 11,518 million.
• 30% growth in EBITDA adjusted for special items to NOK 3,001 million.
• 85% growth in EBITDA excluding gains and losses in Telenor Mobile to NOK 1,517 million, 24% growth excluding DiGi.Com and Pannon GSM.
• EBITDA margin in Telenor Networks of 34%, representing growth of close to 2 percentage points.
• EBITDA margin in mNorway of 40%, representing growth of 4 percentage points.
• Stable ARPU of NOK 334 in mNorway.
• EBITDA in Business Solutions increased by NOK 168 million to NOK –9 million, excluding gains and losses.
• Weaker results in Plus due to costs related to the sales of ADSL subscriptions (57,000 subscriptions at the end of the first quarter this year).
• Net interest bearing liabilities of NOK 24.4 billion at the end of the first quarter this year.

Telenor focused strongly on the rationalization of operations in the first quarter and achieved a significant improvement in margins and reduction in capital expenditure in both mobile and fixed telephony in Norway. Business Solutions is in a major turnaround operation, which is now starting to show results. Demand for ADSL exceeded the expectations which also increased costs that lowered the results in Plus. The mobile operations abroad showed continued strong growth,and Telenor’s share of total subscriptions at the end of the first quarter was 7 million. Total number of subscriptions including Norway was 9.3 million. DiGi.Com and Pannon GSM were consolidated as subsidiaries as of 1 September 2001 and 4 February 2002, respectively.

Jon Fredrik Baksaas has been appointed as the new Chief Executive Officer following Tormod Hermansen.

© Telenor ASA