Telenor reports a solid quarter

Norwegian telecoms firm Telenor delivered huge profits on Oct. 29 that surprised analysts and sent the Oslo Stock Exchange up while most stock markets are logging declines.

The Telenor Group is a leading provider of telecommunications services worldwide. The company has a strong footprint in Central and Eastern Europe and Asia and a leading Nordic position in mobile, broadband and TV services.

In the third quarter of 2009, Telenor’s reported revenues increased by 4 per cent compared to the third quarter of 2008, reaching NOK 24.3 billion. The operating profit increased by 14 per cent to NOK 4.5 billion. Telenor’s mobile operations added 4 million subscriptions during the quarter, reaching a total of 172 million.

“In the third quarter of 2009 we delivered a solid EBITDA margin, and revenue trends in line with the previous quarters this year. The strong EBITDA, combined with continued capex control resulted in a high operating cash flow,” said Jon Fredrik Baksaas, President and CEO of Telenor.

Read more on Telenor.com