Press Releases

January 1970

Telenor Pakistan announces solid financial results for Q4 2010

ISLAMABAD, February 8, 2011: Telenor Pakistan has announced results for the fourth quarter of 2010. Pakistans second largest cellular company continued to out-perform the industry by registering above average growth. At the end of Q4 2010, the number of subscribers reached 24.7 million, showing a year-on-year growth of 10%. EBITDA margin has remained strong in the quarter, growing by 9% as compared to the same period last year. The year closed with Telenor Pakistan retaining its subscriber market share of 24.5%.

Jon Eddy Abdullah, CEO Telenor Pakistan while commenting on the results said:

I am pleased to share Telenor Pakistans latest financial results. These show sustained growth both in the last quarter of 2010 and throughout the year. Telenor Pakistan continues to show solid performance in the face of a number of challenges such as the widespread floods, power shortages and the security situation. For 2011, we look up to the government to rationalize the taxation structure for the telecom sector to ensure the industry continues to contribute long-term to the economy of Pakistan.?

In the previous quarter, Telenor Pakistan along with its partner Tameer Microfinance Bank received global recognition for easypaisa when they were presented the Best Mobile Money Transfer Entrant of the Year Award. Easypaisa was pitted against some of the leading mobile financial service providers in the world, such as Vodafone and Safaricom, and outshone mobile operators Grameenphone, Banglalink and Vodafone to become the winner.

Also in the previous quarter, as part of its Khuddar Pakistan Corporate Responsibility initiative, Telenor Pakistan organized the First National Virtual Leadership Conference on International Day of Persons with Disabilities in which disability leaders called for the ratification of the United Nations Convention on the Rights of Persons with Disabilities.

About Telenor Pakistan

Telenor Pakistan is a provider of high quality telecommunication services in Pakistan. Telenor Pakistan acquired its GSM license in 2004 and launched its services in 2005. Currently, Telenor Pakistan has 24.7 million subscribers, a nationwide network encompassing 8,000 plus cities and 2,500 employees. Telenor Pakistan is 100% owned by Telenor ASA and adds on to its operations in Asia.

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