BELGRADE (Serbia), April 24 (SeeNews) – Telenor said on Tuesday the combined EBITDA, before other items, of its wireless units in Serbia and Montenegro increased 13.3% on the year to 340 million Norwegian crowns ($43.1 million/35.3 million euro) in the first quarter of 2018.
The combined operating profit of the Norwegian telecommunications group's units in the two Balkan countries rose 11.6% to 193 million Norwegian crowns in the first quarter, while total revenues increased 10.2% to 941 million Norwegian crowns, Telenor said in an interim financial report.
Telenor's subscriptions in Serbia and Montenegro countries decreased to 3.112 million at the end of March from 3.252 million a year earlier.
Capital expenditure fell to 65 million Norwegian crowns from 67 million Norwegian crowns in the first quarter of last year.
Telenor's wireless unit competes with Telekom Srbija's mobile arm, MTS, and VIP Mobile, a unit of Telekom Austria Group, on the Serbian market of some 7.1 million people.
Telenor's main competitor in Montenegro is T-Mobile Crna Gora. M:tel, the third mobile operator in the Adriatic state of some 620,000 people, is majority owned by Telekom Srbija.
Elsewhere in Southeast Europe, the Telenor Group also operates in Bulgaria.
(1 euro = 9.62457 crowns)