Telenor has reported a rise of 27% in its 4th quarter net income to NOK 2.49 billion (US$420 million), from NOK 1.96 billion a year ago - while revenues dropped by 11% to NOK26.26 billion (US$4.42 billion). For the full year of 2009, Telenor's reported revenues increased by 2 per cent compared to 2008, reaching NOK 97.7 billion. The operating profit was NOK 13.3 billion.
Telenor's mobile operations added 2 million subscriptions during the quarter, reaching a total of 174 million.
"In 2009 the main focus within the Telenor Group has been to secure market positions while scaling our activities to a challenging business environment. The full year results demonstrate our commitment to these priorities. We had a strong operating cash flow in 2009, and the Nordic region was the main contributor with NOK 10 billion. In spite of weak macro economic conditions, our operations in Central and Eastern Europe have also delivered solid results throughout the year and the Asian operations have shown substantial improvement," said Jon Fredrik Baksaas, President and CEO of Telenor Group.
"The trends we have seen during the year continued into the fourth quarter, with a stable revenue development. In this quarter we report a solid EBITDA margin and are well aligned with our outlook for 2009. There have been improvements in the Asian region, where subscriber growth picked up in all our operations. Telenor in Pakistan continued the positive development and DTAC in Thailand delivered strong results combined with revenue recovery. The listing of Grameenphone in November has been met with overwhelming interest in the market," Baksaas said.
Focus areas in 2010
"Moving into 2010, the Telenor Group will strive to secure our market positions, while capturing organic growth opportunities. We will continue to implement necessary efficiency measures and provide innovative and viable solutions to our customers," Baksaas ends.
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