OSLO, Norway and BARCELONA -- Compared to the previous year, Telenor's revenues increased by 37 per cent in 2006, to NOK 91.1 billion. Profit after taxes and minority interests more than doubled compared to 2005, reaching NOK 15.9 billion. In the fourth quarter of 2006, revenues increased by 30.0 per cent compared to the same period last year, reaching NOK 24.5 billion. The EBITDA margin in the fourth quarter of 2006 was 33.4 per cent, compared to 34.9 per cent in the fourth quarter of 2005.

"2006 has been an outstanding year with high growth in revenues and profits, significantly improving our operating cash flow. The number of subscriptions in our mobile operations increased by more than 30 million, reaching 115 million. I'm proud to see that our consistent strategy of investing in emerging markets combined with a strengthened position in the Nordic markets has led to such strong results. Building on this strong position, we expect the high underlying growth to continue in 2007," said President and CEO of Telenor, Jon Fredrik Baksaas.

"We have had another quarter of record-high subscription growth, mainly driven by impressive net additions in Kyivstar and Telenor Pakistan. Operationally and financially our mobile operations have performed very well. However, the quarterly results from Fixed Norway and Broadcast have been affected by higher costs related to operational conditions and marketing activities," said Jon Fredrik Baksaas.

Telenor Group (Nasdaq: TELN)