Mobile operator Telenor Serbia’s revenues increased to NOK 773 million in the second quarter, from NOK 723 million in the same period last year.
EBITDA rose to NOK 336 million, compared to NOK 281 million and operating profit increased to NOK 171 million from NOK 136 million a year ago. Revenues in local currency increased 10 percent, while EBITDA on the same basis was up 23 percent thanks to the increased revenues, lower sales and marketing expenses and reduced handset subsidies. Capex fell to NOK 92 million, from NOK 167 million in Q2 2007, due to postponed investments in network equipment. The number of subscribers rose by 60,000 during the quarter to 3.047 million at the end of June, while the estimated market share remained stable at 39 percent.