Press Releases

04
May 2007

Telenor Pakistan posts solid financial results!

Islamabad, May 04, 2007: Telenor Pakistan has announced excellent financial results for the company for the Q1 2007 period. Telenor Pakistan achieved a record high in its history by adding 2.4 million subscriptions during the three month period. Compared to the previous quarter, total revenues in local currency increased by 45%.

According to the latest figures presented today by Telenor groups CEO Jon Fredrik Baksaas and CFO Trond. Westlie at Telenor Group's headquarter at Fornebu, Telenor Pakistans contribution to Telenor Groups net additions last quarter worldwide hit the 30% mark.

Commenting on what has propelled Telenor Pakistan to achieve such performance in little more than 2 years of operations in the face of intense competition, Telenor Pakistans CEO Tore Johnsen said, I am happy with the way we are growing. It is not just growth, we obviously have matured. That is why we have been able to control the way we have expanded. Our customer growth comes hand in hand with solid revenue growth.?

"Telenor Pakistan is obviously different from the competition. Our culture is different, our values are different, and our focus on business fundamentals is a little different as well.?

"We are succeeding because of the faith the Telenor Pakistan team members have put in one other and the strong sense of purpose they continue to display.?

Telenor groups President and CEO, Jon Fredrik Baksaas congratulated Telenor Pakistan on its performance, Telenor Pakistan is growing even faster than we expected, increasing revenue per subscription and thereby delivering break-even on EBITDA.?

Telenors mobile subscriptions worldwide now stand at an impressive 123 million. In the first quarter of 2007, Telenor's revenues increased by 5 per cent compared to the first quarter of 2006, reaching NOK 22.4 billion. The underlying revenue growth was 12 per cent. EBITDA before other income and expenses was NOK 7.1 billion while profit before taxes was NOK 4.2 billion.

Telenor ASA is an international provider of high quality telecommunications, data and media communication services. It ranks as one of the biggest GSM service providers in the world with over 123 million subscribers. Telenor Pakistan is 100% owned by Telenor ASA and adds on to its operations in Asia together with Thailand, Malaysia and Bangladesh.

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