ProMonte reports Q4 and year end results

12 Feb 2009

Telenor’s Montenegrin subsidiary ProMonte, a wireless network operator, has announced results for the three and twelve months ended 31 December 2008. In the fourth quarter ProMonte recorded revenues of EUR20.7 million (USD26.7 million), unchanged on the same period of 2007, while for the year revenues slipped 1% to EUR94.2 million. ‘Revenues remained stable, higher interconnection revenues compensated [for] less intensive campaigns of selling subsidised handsets and lower roaming revenues’, said Rada Drobnjak, CFO at the cellco. In the fourth quarter EBITDA increased 20% to EUR7.7 million, while for the year the measure slipped 7% to EUR39.6 million. ProMonte had 431,000 subscribers at the end of the year, up from 422.000 in 2007.

Montenegro, One Montenegro (formerly Telenor Montenegro)