Telenor 1Q results released

27 Apr 2005

Telenor has reported a 7.2% increase in first quarter revenues to NOK15.3 billion. Profit before tax was NOK2.81 billion, compared to NOK5.03 billion in the first quarter of 2004, though 2004’s results were inflated by a gain of NOK2.6 billion from the sale of its stake in Greek cellco Cosmote. Mobile operations accounted for 54% of Telenor’s total sales in the period; in its home market wireless subscriptions rose to 2.63 million to give it a 56% market share. Meanwhile, its Danish wireless subsidiary Sonofon reported a 43,000 decline in its customer base as a result of a saturated market and stiff competition. In Ukraine, Kyivstar added 1.4 million customers in the first three months of the year to take its total to 7.66 million.

Norway, Telenor Group