Press Releases

23
July 2009

Telenor Pakistan posts strong results for Q2 2009

Islamabad (Thursday, July 23, 2009): Telenor Pakistan has posted strong results for Q2 09, growing its Q-o-Q revenues by 8% and netting 908k subscribers compared to 597k in the previous quarter.
The Q-o-Q subscriber growth of 52% has come at a time of significant industry competition and market challenges. With approximately 20.9 million subscribers at the end of Q2 09, Telenor Pakistan has exceeded industry average growth and strengthened its No.2 market share position. Quarterly growth of 19% in EBITDA in the second quarter signifies the success of the company in enhancing its operational efficiency even as the industry struggles with high costs of doing business in the local market.
Executive Vice President and Head of the Telenor Asia Operations, Sigve Brekke expressed his confidence in how Telenor Pakistan was growing in the face of economic challenges in the market: Brekke said, We are very pleased to see that the Telenor Group companies in Asia deliver good results even in tough times. The second quarter figures re-confirm the importance of this region in Telenor, and we are excited about continuing to be a part of the development of the mobile industry in Asia. We are committed to Telenor Pakistan, and we are impressed with the effort our colleagues in Pakistan have shown in delivering good results.
Telenor Pakistans CEO, Jon Eddy Abdullah, praised Telenor Pakistan employees for the continued success of the company. The credit goes to our employees, who have responded to the changing dynamics of the market, managed risks and opportunities well, and committed to a constructive process of change. It is because of them that today, we have a network, a brand, and a culture that are healthier than ever. I believe Telenor Pakistan is well-positioned to realize new business opportunities in the market in line with our long-term commitment to Pakistan, Jon said.
At the end of Q2 09, the Telenor Group reported improved performance, record high operating cash flow, and total subscriptions of 168 million worldwide.

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