Telenor First quarter 2008: Continued growth and stable margin

Wednesday, April 30th, 2008
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FORNEBU — In the first quarter of 2008, Telenor’s pro forma revenues (including Kyivstar) increased by four per cent compared to the first quarter of 2007, reaching NOK 26.3 billion.

Broadcast

“¢ Revenues in the Canal Digital Group increased primarily due to higher revenues from sales of additional services to subscribers, including hardware sales. The decrease in EBITDA was mainly related to increase in commissions and higher content and hardware costs.
“¢ Revenues and EBITDA in Transmission & Encryption increased due to higher revenues from digital terrestrial TV (DTT) transmission related to the start up of DTT in Norway and increased sales of conditional access cards. The analogue transmission network shut off in Norway was carried out in the first region in March 2008, and is expected to be completed in November 2009.
“¢ EBITDA in the first quarter of 2008 was negatively affected by a loss contract related to the content business of NOK 35 million.
“¢ The new satellite Thor 5, which was launched 11 February 2008 and successfully deployed to its final location 1 degree west, is included in capital expenditure for the first quarter of 2008.

(thousands) 2006 2007 2008
  Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
No. of DTH TV subscribers 1,134 1,134 1,136 1,152 1,142 1,126 1,128 1,131 1,124
No. of Cable TV subscribers 684 687 691 696 700 697 701 705 710
– of which in Norway 411 412 414 419 423 424 427 431 442
– of which in Sweden 243 245 246 246 246 242 242 242 235
– of which in Denmark 30 30 31 31 31 31 32 32 33

More: 1Q08 Results