Tuesday, February 23, 2010

Telenor profit grew 25% Asian subscriber growth

Pin It Telenor’s Q4 profit grew 25% year-on-year despite quarterly and annual declines in revenue because of increasing subscriber numbers in Asia. Net profit hit 2.5 billion kroner (€308 million) from 1.9 billion kroner even after sales fell from 29 billion kroner to 26 billion year-on-year.

The quarterly and annual growth of the operator is contributed by growing number of subscribers at Telenor’s operations in Pakistan which added 842,000, Thailand which added 386,000 users, and Bangladesh which added 1.2 million subscribers, thus ending 2009 with a total of 174 million subscribers.

According to CEO Jon Fredrik Baksaas, 2009 results reflect the firm’s focus on geographical presence and reorganization of its activities and he also predicted single digit growth in organic revenues for 2010, and EBITDA margin of 27%-28%, excluding other income and expenses.


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