PODGORICA (Montenegro), May 7 (SeeNews) – Norwegian telecommunications group Telenor said on Wednesday that its earnings before interest, tax, depreciation and amortisation (EBITDA) in Montenegro and Serbia fell to 298 million Norwegian crowns ($50.4 million/36.2 million euro) in the first quarter of 2014 from 306 million crowns a year ago.
The revenues of Telenor's units in Montenegro and Serbia rose to 569 million crowns in the first quarter of 2014 from 537 million crowns a year ago, it said in a quarterly financial report.
The company’s first-quarter CAPEX in Montenegro and Serbia totaled 60 million crowns, compared to 50 million crowns a year ago.
Telenor's main rival in Montenegro is T-Mobile Crna Gora, owned by the Hungarian unit of Deutsche Telekom, Magyar Telekom. M:tel, the third mobile operator in the tiny Adriatic state of some 630,000, is majority owned by Serbian state-owned company Telekom Srbija.
On Serbia's wireless market, Telenor competes with Telekom Srbija's mobile unit, MTS, and VIP Mobile, a unit of Telekom Austria Group.
(1 euro=8.08 Norwegian crowns)