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Financial Statements Directors Report Information telenor telenor asa CONTENTS INTRODUCTION RR1 This is Telenor 3 Group management 5 R To the shareholders 6 annual report Important events in 2000 8 REPORT RR9 Directors’ report 11 2000 Board of Directors 12 OPERATIONS RR19 W Telenor Mobile Communications 21 Telenor Telecom 24 Telenor Broadband Services 26 Telenor Internett 28 Other businesses 30 FOCUS RR33 Innovation in networks 35 FINANCIAL REVIEW RR37 Result of Operations - Group 38 Liquidity and capital resources 52 Telenor Mobile Communications Market risk information 54 P.O. Box 6746 St. Olavs plass 0130 Oslo – Norway Phone: + 47 22 78 50 00 FINANCIAL STATEMENTS RR59 Fax: + 47 22 78 55 00 Profit and loss statement– Telenor Group 60 Balance sheet – Telenor Group 61 Telenor Telecom directors report Cash flow statement – Telenor Group 62 P.O. Box 6701 St. Olavs plass Equity – Telenor Group 63 0130 Oslo – Norway + financial statements Accounting principles – Telenor Group 64 Phone: + 47 23 25 05 00 Notes – Telenor Group 67 Fax: + 47 23 25 05 05 + analysis Accounts – Telenor ASA 96 Auditor’s report 2000 99 Telenor Broadband Services + information note 1 Statement by the Corporate Assembly 100 P.O. Box 6701 St. Olavs plass 0130 Oslo – Norway = annual report 2000 Phone: + 47 22 77 99 00 SHAREHOLDER INFORMATION RR101 Fax: + 47 22 77 79 80 Shareholder information 102 note 1 The annual report contains Elected officers and management 104 Telenor Internett comprehensive information P.O. Box 393 Skøyen concerning the Telenor Group’s activities. The general 0130 Oslo - Norway information section is also Phone: + 47 22 77 19 00 published as an expanded Fax: + 47 22 77 19 10 Internet version. Telenor ASA www.telenor.com Annual report on the Web R Environmental report on P.O. Box 6701 St. Olavs plass Telenor’s annual reports since 1995 the Web R have been published on the com- Telenor’s environmental 0130 Oslo - Norway pany’s website: report for 2000 is only Phone: + 47 22 77 50 60 www.telenor.com/ir/annual_reports published electronically in Fax: + 47 22 77 87 20 accordance with the group’s The 2000 report has also been environmental policy: Annual Report 2000 published in the form of an www.telenor.com/reports/ Published by: Telenor ASA expanded presentation with more 2000/environment Universitetsg. 2 detailed information: P.O. Box 6701 St. Olavs plass www.telenor.com/reports/2000 0130 Oslo - Norway Phone: + 47 22 77 50 60 Design , illustration, production: Gazette R Photo: Michael M. Krohn R Printing: RK Grafisk R Fax: + 47 22 77 87 20 Paper: Munken Lynx and Kaskad iceblue R Typeface: Telenor e-mail: [email protected] telenor telenor asa CONTENTS INTRODUCTION RR1 This is Telenor 3 Group management 5 R To the shareholders 6 annual report Important events in 2000 8 REPORT RR9 Directors’ report 11 2000 Board of Directors 12 OPERATIONS RR19 W Telenor Mobile Communications 21 Telenor Telecom 24 Telenor Broadband Services 26 Telenor Internett 28 Other businesses 30 FOCUS RR33 Innovation in networks 35 FINANCIAL REVIEW RR37 Result of Operations - Group 38 Liquidity and capital resources 52 Telenor Mobile Communications Market risk information 54 P.O. Box 6746 St. Olavs plass 0130 Oslo – Norway Phone: + 47 22 78 50 00 FINANCIAL STATEMENTS RR59 Fax: + 47 22 78 55 00 Profit and loss statement– Telenor Group 60 Balance sheet – Telenor Group 61 Telenor Telecom directors report Cash flow statement – Telenor Group 62 P.O. Box 6701 St. Olavs plass Equity – Telenor Group 63 0130 Oslo – Norway + financial statements Accounting principles – Telenor Group 64 Phone: + 47 23 25 05 00 Notes – Telenor Group 67 Fax: + 47 23 25 05 05 + analysis Accounts – Telenor ASA 96 Auditor’s report 2000 99 Telenor Broadband Services + information note 1 Statement by the Corporate Assembly 100 P.O. Box 6701 St. Olavs plass 0130 Oslo – Norway = annual report 2000 Phone: + 47 22 77 99 00 SHAREHOLDER INFORMATION RR101 Fax: + 47 22 77 79 80 Shareholder information 102 note 1 The annual report contains Elected officers and management 104 Telenor Internett comprehensive information P.O. Box 393 Skøyen concerning the Telenor Group’s activities. The general 0130 Oslo - Norway information section is also Phone: + 47 22 77 19 00 published as an expanded Fax: + 47 22 77 19 10 Internet version. Telenor ASA www.telenor.com Annual report on the Web R Environmental report on P.O. Box 6701 St. Olavs plass Telenor’s annual reports since 1995 the Web R have been published on the com- Telenor’s environmental 0130 Oslo - Norway pany’s website: report for 2000 is only Phone: + 47 22 77 50 60 www.telenor.com/ir/annual_reports published electronically in Fax: + 47 22 77 87 20 accordance with the group’s The 2000 report has also been environmental policy: Annual Report 2000 published in the form of an www.telenor.com/reports/ Published by: Telenor ASA expanded presentation with more 2000/environment Universitetsg. 2 detailed information: P.O. Box 6701 St. Olavs plass www.telenor.com/reports/2000 0130 Oslo - Norway Phone: + 47 22 77 50 60 Design , illustration, production: Gazette R Photo: Michael M. Krohn R Printing: RK Grafisk R Fax: + 47 22 77 87 20 Paper: Munken Lynx and Kaskad iceblue R Typeface: Telenor e-mail: [email protected] R R R KEY (in millions except per share amounts) 2000 1999 1998 1997 1996 Calculation of EBITDA 2000 1999 1998 1997 1996 DAB: Digital Audio Broadcasting, i.e. SMATV: Satellite Master Antenna TV, an At the end of 2000 Telenor had digital radio. independent cable network that has its Income Statement Data Operating profit 3,629 4,002 3,797 2,657 2,597 GLOSSARY AND TELENOR’S active operations in its four FIGURES 1) own antenna and delivers television Revenues 36,602 32,784 28,751 25,763 - Depreciation and amortization 5,934 5,047 4,461 4,048 3,903 core areas in 29 countries, Gains on disposal of fixed assets and operations 1, 0 4 2 7 8 3 2 4 8 17 7 1)- EBITDA 9,563 9,049 8,258 6,705 6,500 DEFINITION OF R Digital: Term for radio transmission where channels to more than 20 users. The INTERNATIONAL OPERATIONS as illustrated on the map. Total revenues 37,644 33,567 28,999 25,940 22,447 Gains on disposal of fixed assets and operations 1, 0 4 2 7 8 3 2 4 8 17 7 _ the voice signal is measured at regular network is owned by the users, and they These operations are managed Operating expenses 34,015 29,565 25,202 23,283 19,850 Losses on disposal of fixed assets and operations 58 302 9 40 _ TERMS intervals and the value of these meas- have a non-exclusive agreement with Operating profit 3,629 4,002 3,797 2,657 2,597 EBITDA, excluding gains and losses on disposal of by wholly and partly owned urements is transferred by the radio sig- the program supplier or operator. Share of profit (loss) in associated companies (692) (1,239) (1,097) (534) (175) fixed assets and operations 8,579 8,568 8,019 6,568 _ R ADSL: Asymmetrical Digital Subscriber companies. (Sales and nal as numerical values (0 and 1 ). Net income 1,076 2,035 1,710 1,389 1,784 Line. Mode of transmission that utilizes representation offices are R SMS: Short Messaging Service, text EUROPE Net income per share in NOK 0.754 1.454 1.293 1.157 1.622 Other operating data 2000 1999 1998 1997 1996 existing copper cable networks for not included here.) R DSMP: Directory System Multi Platform, messaging system in GSM. Mobile telephony (digital) subscriptions in Norway, period end (000s): services that require higher capacity in US GAAP Contract 1, 14 5 1,0 0 3 944 80 3 534 a sfully integrated directory production one direction than in the other, e.g. Revenues 36,553 32,716 28,670 - - Prepaid 1, 0 13 78 1 3 16 68 - system. R UMTS: Universal Mobile Mobile Communications: video-on-demand. • Net income 1, 0 8 2 2 , 18 8 1, 5 7 8 - - Mobile telephony churn rates for contract subscriptions 12 . 7 % 14 . 2 % 13 . 1 % 13 . 9 % 12 . 0 % Telecommunications System, term for Austria Bangladesh Net income per share in NOK 0 .759 1. 5 6 3 1. 19 4 - - Total mobile telephony outgoing minutes in Norway R EBITDA: Earnings before interest, taxes, the third generation mobile network. (in millions of minutes): R Analog: Term for radio transmission Denmark depreciation and amortization. Balance Sheet Data 2000 1999 1998 1997 1996 Digital 2,298 1,80 1 1,279 7 11 328 where the radio waves vary continuously Greece R VDSL: Very high-speed Digital Subscriber Total fixed assets 80,881 37,617 31,783 26,631 23,017 Analog 108 174 271 331 391 in step with the voice. Hungary R Total current assets 12,804 10,409 8,967 7,533 6,537 Average monthly revenue per mobile subscription (digital) in Norway (in NOK) GPRS: General Packet Radio Services; Line, mode of transmission that utilizes Ireland 2) the existing copper cable network for Malaysia Total assets 93,685 48,026 40,750 34,164 29,554 Total 323 332 363 394 418 R packet-switched service that transmits ASP: Application Service Provider, Montenegro Shareholder's equity 35 ,474 20 ,0 33 18 , 5 15 15 , 4 78 14 , 6 4 7 Contract 481 445 400 394 418 data as packets with one address for services that require an extremely high provider who delivers applications. Norway Minority interests 2,706 1,232 239 242 95 Prepaid 13 8 2) 13 1 16 1 - - each packet.
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