Telenor Obtains Unaudited Kyivstar Financial Results
"We are delighted that Kyivstar has provided us with financial information concerning its performance for the first three quarters of 2007," said Jan Edvard Thygesen, Executive Vice President and head of Telenor's operation in Central and Eastern Europe. "However, as a consequence of Alfa Group's continuing collusive litigation in Ukraine and its ongoing boycott of Kyivstar's board and shareholder meetings in defiance of an international arbitration award and two court orders, Telenor remains unable to consolidate Kyivstar's financial results. To restore corporate governance in Kyivstar, Telenor intends to continue its efforts to enforce the arbitration award and court orders against Alfa and its affiliates, including Storm and Altimo, wherever they and their assets can be found."
Telenor holds 56.5 per cent of Kyivstar. The remaining 43.5 per cent is held by Storm, an Alfa affiliate. Telenor will report Kyivstar as an associated company from the fourth quarter 2007.
The financial results provided by Kyivstar are as follows:
Kyivstar -Ukraine | ||||
2007 | Year | |||
(NOK in millions) | Q1 | Q2 | Q3 | 2006 |
Subscription and traffic | 2 215 | 2 435 | 2 625 | 8 359 |
Interconnection revenues | 559 | 634 | 705 | 2 312 |
Mobile revenues company's subscriptions | 2 774 | 3 069 | 3 330 | 10 671 |
Other mobile revenues | 38 | 48 | 68 | 197 |
Total mobile revenues | 2 811 | 3 116 | 3 398 | 10 868 |
Non-mobile revenues | 20 | 24 | 28 | 65 |
Total revenues 1) | 2 831 | 3 141 | 3 427 | 10 934 |
1) Of which internal revenues | 6 | 11 | 11 | 9 |
EBITDA | 1 687 | 1 905 | 1 981 | 6 497 |
Depreciation and amortization 1) | 448 | 441 | 474 | 1 587 |
Write-downs 2) | 3 | 2 | 2 | 31 |
Operating profit | 1 236 | 1 462 | 1 504 | 4 879 |
1) Of which amortization of Telenor's net excess values | 23 | 22 | 14 | 94 |
2) Of which write-downs of Telenor's net excess values | - | - | - | |
Profit after tax and minority interest | 512 | 611 | 645 | 1 909 |
EBITDA/Total revenues (%) | 59,6 | 60,6 | 57,8 | 59,4 |
Capex | 557 | 526 | 449 | 3 671 |
No. of mobile subscriptions (in thousands) | 21 959 | 22 059 | 23 059 | 21 510 |
- of which prepaid | 20 713 | 20 837 | 21 841 | 20 281 |
Average traffic minutes per subscription per month (AMPU) in the quarter | 125 | 137 | 145 | |
Average revenue per subscription per month (ARPU) in the quarter | 42 | 47 | 49 | |
- of which contract | 183 | 197 | 210 | |
- of which prepaid | 34 | 38 | 40 | |
These figures have not been subject to the ordinary internal control review process in Telenor.
Further information:
Dag Melgaard, Vice President
Telenor ASA, tel: +47901 92 000
Anastasyia Sosevych, Communications Manager
Telenor Ukraine, tel: +380 6746 76666