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February 9, 2010

Telenor Q4 revenues down to NOK26.26bn

Mobile operations added two million subscriptions during the quarter

By CBR Staff Writer

Norwegian telecommunications group Telenor has reported revenues of NOK26.26bn for the fourth quarter of 2009, compared to revenues of NOK29.4bn for the fourth quarter of 2008. Telnors mobile operations added two million subscriptions during the quarter, reaching a total of 174 million.

The company’s EBITDA before other income and expenses was NOK8.12bn for the fourth quarter 2009. Adjusted operating profit for the quarter decreased to NOK3.93bn, compared to NOK5.34bn for the fourth quarter of 2008.

For the quarter ended December 31, 2009, the company posted net income attributable to equity holders of Telenor increased to NOK2.49bn, or NOK1.51 per share compared to NOK1.96bn, or NOK1.18 per share for the same period last year.

For the full year 2009, Telenor’s revenues increased by 2% to NOK106.7bn from NOK109.97bn in 2008. EBITDA before other income and expenses was NOK36.76bn compared to NOK38.49bn in 2008. Net income attributable to equity holders of Telenor was NOK8.98bn compared to NOK13.06bn in 2008.

In Norway, Telenor had strong performance in 2009, particularly within the mobile area where the demand for mobile broadband was one of the main revenue drivers.

Jon Fredrik Baksaas, president and CEO of Telenor Group, said: “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 NOK10bn.

“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.”

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