Finansijski podaci SRBIJA

Telenor Serbia
Telenor Serbia, Telenors wholly owned subsidiary, is the countrys largest mobile
operator (revenue/ marketshare).
Telenor Serbia offers voice and non-voice services to subscribers on both a prepaid
and contract basis.
The international presence of Telenor gives me the opportunity to travel, meet new
people and experience their working culture.

Telenor Serbia at a glance
Key facts
The largest mobile operator in Serbia (revenue/ marketshare)
3.171 million mobile subscriptions (Q4 2013)
861 employees (Q4 2013)
Total revenues of NOK 2,911 million (2011)
Monthly Mobile ARPU: NOK 72 (Q4 2013)
The headquarters are located in Belgrade
CEO: Ove Fredheim
Socio-economic impact of mobile financial services
A study conducted by the Boston Consulting Group for Telenor in 2011 found that
the introduction of mobile financial services could add a 2 % increase to Serbias
Gross Domestic Product (GDP) by 2020. Widespread mobile financial services are
estimated to play a role in the creation of 23,000 new jobs by 2020.
Telenor Serbia offers Platimo, where customers can pay their Telenor bills, top up
prepaid accounts, authenticate transactions and transfer money.
Read more about our impact
Historical background
Telenor has been operating in Serbia since 2006, when it acquired and rebranded
Serbias first mobile provider on the Serbian market, Mobi 063. Telenor is the largest
foreign investor in Serbia and engages in the development of Serbia, financially,
technologically, socially and culturally.
Analytical information
For detailed information on regulatory matters, network, licenses and competitors,
see our business descriptions for Telenor Serbia.
Company Website
Visit Telenor Serbias website
Key Figures for Telenor Serbia
(NOK- Norveska Kruna in millions) 4th quarter Year

2013 2012 2013 2012
Revenues

Subscription and traffic 519 467 2 021 1 879
Interconnect revenues 170 148 634 580
Other mobile revenues 22 28 95 121
Non-mobile revenues 56 43 190 155
Total revenues 768 686 2 940 2 735
EBITDA before other items 268 274 1 141 1 080
Operating profit 182 160 835 733
EBITDA before other items/Total revenues (%) 34.9 39.9 38.8 39.5
Capex 59 68 200 221
No. of subscriptions - Change in quarter/Total (in
thousands):
(67) (40) 3 171 3 207
ARPU - monthly (NOK Norveska Kruna) 72 64 69 65
Exchange rate

0.0690 0.0661
Vision, Mission and Values
Our industry plays an increasingly important role in peoples everyday lives. Our
vision, mission and values express where Telenor is headed and the role we will play
both in transforming peoples lives and empowering societies to grow and progress.

Our vision
Empower societies
We provide the power of digital communication, enabling everyone to improve their
lives, build societies and secure a better future for all.
Our vision to empower societies is a clear call to action. We bring vital infrastructure,
new services and products that stimulate progress, change and improvement.
Our mission
Were here to help our customers
We exist to help our customers get the full benefit of being connected. Our success
is measure by how passionately they promote us.
Our values
Our values serve as a guide for our everyday work. They describe how we should
serve our customers and work together as colleagues.
Be respectful
We acknowledge and respect local cultures and want to be a part of local
communities wherever we operate.
Keep promises
Were about delivery, not overpromising. Were about actions, not words.
Make it easy
We dont complicate things. Everything we produce should be easy to understand
and use.
Be inspiring
We find new ways to improve and create value.
Our Story
We provide the power of digital communication, enabling everyone to improve their
lives, build societies and secure a better future for all.
Empowering people to transform their lives
We are proud to bring real change to hundreds of millions of people and the
societies where we operate. We exist to help our customers get the full benefit of
being connected. We put their needs first in all of our decision-making.
A better future for all
Access to the internet enables new levels of connectivity in a world where people,
services and devices interact seamlessly. Telenor facilitates this interaction by
matching the needs of people with the true potential of technology.
Providing internet access for all empowers people, by giving them access to banking
services, healthcare and education. We collaborate with local and international
partners to deliver vital services to hundreds of millions of people every day. At the
heart of our vision is the belief that our services can bring a better future for
everyone.
Telenor creates value and growth for the long-term. Understanding peoples needs is
fundamental to us. We meet everyone at eye level, building relationships based on
respect and trust. We believe in empowering everyone to deliver their best, with high
ethical standards.
Our Story
We provide the power of digital communication, enabling everyone to improve their
lives, build societies and secure a better future for all.
Empowering people to transform their lives
We are proud to bring real change to hundreds of millions of people and the
societies where we operate. We exist to help our customers get the full benefit of
being connected. We put their needs first in all of our decision-making.
A better future for all
Access to the internet enables new levels of connectivity in a world where people,
services and devices interact seamlessly. Telenor facilitates this interaction by
matching the needs of people with the true potential of technology.
Providing internet access for all empowers people, by giving them access to banking
services, healthcare and education. We collaborate with local and international
partners to deliver vital services to hundreds of millions of people every day. At the
heart of our vision is the belief that our services can bring a better future for
everyone.
Telenor creates value and growth for the long-term. Understanding peoples needs is
fundamental to us. We meet everyone at eye level, building relationships based on
respect and trust. We believe in empowering everyone to deliver their best, with high
ethical standards.
What We Do
We are proud to bring real change to hundreds of millions of people and the
societies where we operate.
Studies by the Boston Consulting Group and Deloitte show that the telecom industry
makes an important contribution to economic and social welfare and is an important
driver of social and economic development. According to the results, 10 per cent
increase in mobile density boosts GDP growth by 1.2 percentage points over time.
Connects the unconnected
For instance, mobile communication and Internet can connect people in remote
areas to basic utilities such as banking and health care, services which they would
have to spend both time and money to get access to before. It can also make it
easier for people to communicate with friends and family in distant locations.
A potential to change peoples lives
These studies show that the telecom industry has the potential to change peoples
lives:
The Internet enables the creation of new jobs, drives higher revenues and is both an
instrument and a driver for better social conditions. Access to mobile
communications can improve information flow, increase work flexibility, and promote
business in previously underserved rural areas. The mobile phone is also a key tool
for bringing financial services to unbanked populations. It allows users to complete
basic payments and remittances via the mobile phone, and gives easier access to
savings, credit and insurance products.
An integral part of the society
In all our markets, we want to help people get the full benefit of communication
services in their daily lives. We become an integral part of the societies we join and it
is fundamentally important to us that we strive to operate responsibly in all aspects of
our operations. Through this, I believe we can create shared benefit for society and
for Telenor.
Jon Fredrik Baksaas President and CEO, Telenor Group.
See examples of how we create services that meet peoples needs
How we work
Telenor creates value and growth for the long term. Understanding peoples needs is
fundamental to us. We meet everyone at eye level, building relationships based on
respect and trust. We empower everyone to deliver their best, with high ethical
standards.
See examples of how we bring real change to the societies where we operate.
Socio-economic impact of telecommunication
Telenor Group has commissioned studies on the socio-economic impact of the
Internet, mHealth, mobile financial services and mobile communications.
http://www.telenor.com/corporate-responsibility/impact/
Strategy 2014 2016
Telenor Groups business strategy is built around maintaining our role as a
predominantly retail operator, while adding new services to extend our reach into
digital services.
Our key ambitions
Telenor will continue to focus on growth and value creation. To achieve this, we
focus on three strategic ambitions: Internet for all, loved by customers and efficient
operations.
Internet for all
Data represents the next growth curve. We will increase and monetize data usage
and selectively build new stand-alone services positions.
Loved by customers
To continue to deliver higher growth than peers, it is increasingly important to win
and retain existing mobile subscribers, and to strengthen the ties we have with
customers delivering what customers truly value.
Efficient operations
We aim to utilize our resources to better meet future customer needs. Improving
efficiency and changing how we operate will allow us to invest time and money in the
customer experience. We target gross savings of NOK 5 billion by 2015.
Our key enablers
In order to deliver on our growth and value creation ambitions for 2016, we focus on
two key enablers: passionate employees and impact societies.
Passionate employees
We must have passionate employees in order to deliver on our goal of achieving a
leading Net Promoter Score in our markets by 2015. Telenors People strategy is to
create impact through world class talent management. We will attract and develop
unrivalled competence; we will drive employee engagement to retain the right
capabilities; and we will ensure sustainable change and operational excellence to
release capacity to deploy new capabilities.
Impact societies
We have a significant impact on the societies where we operate. Providing people
with affordable smartphones and internet connectivity is an important catalyst for
growth and development. We also have an opportunity to play a role in the
digitalization of societies, within areas such as education, health and financial
inclusion. In addition, we aim to further improve the way we work with our business
environment, with a focus on local regulatory frameworks, societal expectations and
stakeholder perceptions.
Strategic initiatives to support key ambitions
To deliver on its strategic ambitions, Telenor Group has prioritized a number of
initiatives.
Delivering on Internet for All
Enable people to use the internet
We will increase penetration of internet users by making data networks available and
affordable, and by increasing penetration of smartphones and other internet-capable
devices.
Stimulate use
We will make larger customer segments aware of how mobile internet is beneficial
and relevant for them.
Monetize internet use
We will continue to develop holistic portfolios that encompass prepaid, postpaid and
all sub-brands. We will also continue to focus on total communication bundles
consisting of relevant volumes of voice, SMS and data services.
Develop stand-alone digital service propositions
In selected markets, we will build positions in new service areas with attractive
stand-alone revenues and strong network effects, such as financial services, M2M,
online classifieds and others.
Delivering on Loved by Customers
Telenors Marketing Platform
Telenors Marketing Platform consists of best-in-class tools and creates a common
language for discussing strategic marketing topics across the Group.
Net Promoter Score and Closed Feedback Loop
Net Promoter Score and Closed Feedback Loops are important tools for becoming a
customer-centric leader. We will improve quality in customer touch points and
customer-facing processes, and improve loyalty through better customer
experiences.
Customer Insight
Solid insights are needed to create more targeted product and price packages in
order to improve the customer experience and retention. Customer insight also
drives cost efficiency.
Distribution
As customer preferences evolve, digital channels increase in share of commerce.
We will develop digital distribution capabilities and assets to stay competitive. In our
growth markets, we will also strengthen mass market and physical distribution.
Customer Service
The customer service organization is a vital touch point between us and our
customers. With the abundance of devices and services, customers need more
advanced support. We will develop customer service to deliver on new expectations
and service volumes.
Delivering on Efficient Operations
Efficiency agenda
Improving efficiency and changing how we operate will allow us to invest time and
money into the customer experience. We target gross opex savings of NOK 5 billion
by 2015.
Network
New data demands result in new requirements for networks, and we see network
quality as a lever for differentiation. We will be implementing networks that
are faster, smarter, more robust and available, high-performing and more efficient.
We will continue to utilize network sharing to improve cost and quality positions in
our markets.
IT
We aim to transform IT to become an enabler for superior customer experiences. IT
renewals will be business driven, and simplifying product portfolios and business
processes is a prerequisite for success. Changing how we operate IT is another
important tool to reduce cost and improve agility.
Global activities
We aim to realize operational synergies across borders, specifically within the
following areas: Global Digital Service Deployment, Global Sourcing, Telenor
Common Operations, Global Shared Services and Global Roaming.
Corporate Governance
Corporate governance defines a framework of rules and procedures by which the
Telenor Group governs and controls its business. Good corporate governance is
about establishing a sound platform for such a framework and applying our values in
order to create value for Telenor stakeholders.
We consider good corporate governance to be a prerequisite for value creation and
trustworthiness and for access to capital.
Governance principles
In order to secure strong and sustainable corporate governance, it is important that
we ensure good and healthy business practices, reliable financial reporting and an
environment of compliance with legislation and regulations across the Telenor
Group.
The Telenor Group has governance documents setting out principles for how
business should be conducted. These apply to all Telenor units. The Telenor
Governance regime is approved by the Board of Directors in Telenor ASA.
Trust and transparency
We believe good corporate governance involves openness and trustful cooperation
between all parties involved in the Group: the owners, the Corporate Assembly, the
Board and Group Executive Management, employees, customers, suppliers,
creditors, public authorities and society in general. When submitting reports, Telenor
provides both financial and non-financial information, emphasising transparency so
that interested parties may be able to make informed decisions.
Applying values to create value
Good corporate governance principles are reflected in our values Make it easy.
Keep promises. Be respectful. Be inspiring. By applying our values in what we do as
an organisation, we create value and maintain a healthy corporate culture.
Rules and regulations
Telenor is subject to specific rules and regulations in all the countries where the
Group conducts business. The Telenor shares are listed on the Oslo Stock
Exchange. As an issuer of shares the company must comply with rules regarding
Norwegian stock exchange and rules regarding public limited companies.
Compliance with rules and regulations
The Telenor Group has developed a set of governing documents, including the Code
of Conduct, as well as policies (Group Policies) and accompanying manuals (Group
Manuals), to ensure good and efficient governance and control. Internal rules are
adapted and implemented in all subsidiaries where the Telenor Group has
operational control.
Telenor Group works continuously to ensure that governing documents, training and
control mechanisms are current and adequate. They should meet our own
requirements as well as the justified expectations of other interested parties. We
work systematically to ensure compliance with rules and regulations.
In 2011, the HSSE committee was extended and renamed Ethics and Sustainability
committee. The committee supports the Board in fulfilling its responsibility with
respect to ethics and compliance, corporate responsibility, HSSE and sustainability
in the supply chain.
Whistleblowing
Employees who become aware of any kind of infringement are encouraged to report
this to their leader or the Local- or Group Ethics & Compliance Officer. In fact, failure
to do so is itself a breach of Telenors Code of Conduct.
Telenor has established a Hotline to compliance throughout the Group. The hotline is
not staffed around the clock, but incidents may still be reported in official local
language by phone, e-mail or postal service 24 hours a day, every day of the year.
Incidents may be reported and handled confidentially if desired.
Telenor does not allow reprisals of any kind against those, who in good faith, report
an infringement or suspicion of an infringement. Misconduct that may result in
disciplinary actions includes failure to promptly raise a known or suspected breach.
Socially responsible business conduct
Our efforts to ensure socially responsible business conduct involve more than just
good business ethics at all levels. They concern the manner in which we treat our
employees, our relationship to nature and our surrounding environment, our efforts
to ensure safe products, as well as a number of other factors.
Telenor and human rights
Corporate responsibility in Telenor
Report on Corporate Goverance Telenor ASA