Falling subscriber base hits Telenor revenues

9 May 2012

Telenor Serbia, the nation’s second largest cellco by subscribers, has booked revenues of NOK656 million (USD112.8 million) for the three months ended 31 March 2012, dipping slightly year-on-year by NOK1 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) were NOK257 million. Operating profit rose by 16.6% y-o-y to NOK169 million, as CAPEX fell from NOK89 million to NOK46 million. The cellco’s subscriber base dropped by 27,000 during the period under review to 3.11 million.

Telenor saw a similar drop in Montenegro, with revenues dropping to NOK120 million, a fall of 9.8% compared to the corresponding period a year earlier. EBITDA, too, fell to NOK29 million, falling by NOK7 million against the previous year. Telenor’s Montenegrin subscriber base dropped by 60,000 during the quarter, though this was attributed to compulsory deactivations as part of pre-paid registration requirements.