Telenor Pakistan announces financial results for Q1 2011

Communication and IT

Karachi –– Telenor Group announced on Wednesday results for the first quarter of 2011. At the end of the first quarter of 2011 Telenor Pakistan subscribers reached 25.75 million which is nearly 5% higher than the previous quarter. EBIDTA margin remained firm with Telenor Pakistan’s market share at 24%.

Christian Albech, CEO Telenor Pakistan commenting on the results said: “Our performance is in line with our expectations and above par as compared with the industry average. In 2011 we hope to continue to consolidate our growth across all areas of the business.”

Also in the first quarter of this year Telenor Pakistan was presented with the High Tax Payer Award of Excellence 2010 from Pakistan Customs, Islamabad.

Overall, Telenor Group reported revenues of NOK24.1 billion, representing an organic revenue growth of 7%. EBITDA before other items was NOK7.4 billion, EBITDA margin was 31 per cent, and operating cash flow was NOK5 billion.

“Our mobile operations are continuing the strong subscriber growth seen in the last part of 2010, adding 9 million subscribers during the first quarter this year,” said Jon Fredrik Baksaas, President and CEO of Telenor Group.

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