Croatian Telecom Reports Increase in Revenues, Fall in Profits

ZAGREB, February 21, 2018 – Hrvatski Telekom (HT) generated 7.756 billion kuna in revenues in 2017, an increase of 11% over 2016, while net profit fell by 7.5% to 863 million kuna, the company’s audited consolidated results show.

Revenues increased by 2% if the impact of Montenegro’s Crnogorski Telekom is excluded and by 1.5% if the impact of H1 Telekom is excluded. The revenue growth was driven by mobile communications revenues and system solutions growth.

EBITDA before one-off items was 3.138 billion kuna, up 11.2%, while the EBIDTA margin rose by 0.1 percentage point to 40.5%.

Net profit fell by 7.5% to 863 million kuna, while excluding the impact of Crnogorski Telekom it declined by 10.8%. Net profit was affected by higher depreciation due to increased infrastructure investments and increased adjustments of assets and receivables.

Capital investments increased by 17.2%, including Crnogorski Telekom’s contribution. Excluding that contribution, capital investments rose by 8.5% to 1.7 billion kuna, according to the financial statement.

 

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