Telenor (Canal Digital) subscribers fall in Q1

Tuesday, May 5th, 2009
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FORNEBU — “In the first quarter of 2009, the Telenor Group delivered stable organic revenues and an EBITDA margin in line with our outlook for 2009,” said President and CEO of Telenor (Oslo:TEL), Jon Fredrik Baksaas.

BROADCAST

“¢ The number of DTH subscribers decreased by 17,000, and the number of Cable TV Internet access subscriptions increased by 16,000 during the quarter.
“¢ Total revenues increased by 9%, mainly driven by increased revenues in the Canal Digital Group.
“¢ Revenues in the Canal Digital Group increased primarily as a result of a higher number of cable TV subscribers, higher sales of additional services including hardware to cable TV and DTH subscribers as well as positive currency effects. The increase in EBITDA was mainly due to increased revenues only partly offset by higher hardware, CRM and logistics cost related to more complex add on products and hardware. EBITDA was affected by a one time accrual of NOK 27 million related to replacement of cable TV decoders in Canal Digital Norway.
“¢ Revenues in Transmission & Encryption increased due to higher revenues from satellite transmission related to increased capacity from Thor 5 and positive currency effects, partly offset by lower revenues from terrestrial transmission due to analogue shut off in Norway.
“¢ In the first quarter of 2009 Norkring aquired a 49% stake in a terrestrial TV operator in Belgium for NOK 88 million.

No. of subscriptions (in thousands):

             First quarter
             -------------    Year
              2009    2008    2008
             -----   -----   -----
DTH TV       1,096   1,124   1,113
Cable TV       739     710     746

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