Telio Holding ASA: Increased customer growth for Telio in the 3rd quarter

OSLO, Norway--(BUSINESS WIRE)-- - 3,883 new customers and operating profit of NOK 20.5 million in 3rd quarter

Telio continues to deliver strong results, thereby confirming their position as a leading European provider of access independent broadband telephone services. Telio increased its customer base by 3,883 net new customers in the third quarter. Revenues in the third quarter ended at NOK 94.0 million. The third quarter is the company’s first reporting after the introduction of VAT on electronic services from 1 July.

- Considering the effect from the introduction of VAT on electronic services from 1 July, we are satisfied with the financial performance in the third quarter. Despite this effect we are able to deliver good profitability and a strong cash flow. The growth in the customer base in the third quarter was higher than in the whole first half year. In addition to an increase in customer intake in the markets outside Norway, it is encouraging to see a positive development in Norway in both the residential and the business segment, says Eirik Lunde, CEO of Telio Holding ASA.

Net customer growth in Norway

In Norway, the customer base increased by 242 customers in the third quarter. Sales to the business segment continued the positive development.

Continued growth in international markets

Telio continues to grow in the markets outside Norway. Especially, the Dutch operation has achieved strong growth and the company now has a customer base of above 47,000 subscribers in the Netherlands. Net increase in customers in the Netherlands was 2,269 while the increase was 82 customers in Denmark and 635 customers in Switzerland in the third quarter.

Strong financial results

In the 3rd quarter 2011, the Telio Group achieved revenues of NOK 94.0 million compared to NOK 97.1 million in the year-ago quarter. EBITDA was NOK 29.6 million (31.5% EBITDA margin) compared to NOK 32.3 million (33.3 % EBITDA margin) in the same quarter last year. Operating profit ended at NOK 20 .5 million compared to NOK 21.4 million in the 3rd quarter of 2010.

(See separate financial report and market presentation for Q3 2011 at http://www.telioholding.no/investor_relations/reports_presentations)

Download high definition pictures of CEO Eirik Lunde at http://www.telio.ch/om_telio/presse

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CONTACT:

Mr. Eirik Lunde, CEO
Telephone: +47 23 62 66 88
Mobile: +47 48 09 69 64
E-mail: eirik.lunde@telio.no

KEYWORDS:   Europe  Norway

INDUSTRY KEYWORDS:   Technology  Telecommunications

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