"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.
"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.
"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.
The table below contains pro forma key figures (including Kyivstar) for the first quarter of 2008, compared to the previous year:
(NOK in millions except earnings per share)
EBITDA before other income and expenses
EBITDA margin before other income and expenses (%)
Adjusted operating profit
Adjusted operating profit/Revenues (%)
Profit after taxes and non-controlling interests
Earnings per share from total operations, basic, in NOK
Investments in businesses
Net interest-bearing liabilities
For more information please refer to the quarterly report on www.telenor.com/ir/reports/08q1 .
"I am pleased to see that we make daily life easier for our customers world wide. In close cooperation with partners, we have introduced several innovative and user friendly solutions, such as mobile financial services in Bangladesh and Thailand, as well as a mobile health service in Pakistan. We will continue to make the opportunities and benefits of mobile communication available for all," said Jon Fredrik Baksaas.
Scott Engebrigtsen, Vice President Group Communications
Tel: +47 90043484, E-mail firstname.lastname@example.org
To the editorial offices:
Press and analyst conference
In connection with the publication of the financial results, a press and analyst conference will be held on Wednesday 30 April at 09:00 hrs Norwegian time/CET. The presentation will be held in Auditorium A, Telenor Expo Visitors' Centre, at the Telenor Headquarters at Fornebu outside Oslo. President and CEO Jon Fredrik Baksaas and CFO Trond Westlie will present the results. All presentations will be given in English.
Internet and mobile broadcast
The press and analyst conference will be broadcast live over the Internet, and a recorded version will be made available on www.telenor.com/ir/reports/08q1. During the live transmission, written questions may be submitted via the Internet. The conference will also be available live, and in a recorded version, on mobile phones with 3G, GPRS or EDGE. For more details please refer to www.telenor.com/ir/reports/08q1.
Conference call and Q&A
The press and analyst conference will also be available as a conference call. This service also allows participants to ask questions at a concluding Q&A session, which will be held immediately after the presentation and a brief Q&A session in the auditorium. Please register well in advance on (+47) 800 80 119 (from Norway) or (+47) 23 00 04 00 (from Norway or abroad).
English language versions of the full quarterly report and all presentations used during the press and analyst conference will be made available on www.telenor.com/ir/reports/08q1 at 07:00 and 09:00 hrs Norwegian time/CET, respectively.