In the first nine months of this year, the company had net profits in the amount of 735 million kunas, which is 17 million less than in the same period last year.
In the first nine months of this year, Croatian Telecom (HT) posted 5.7 billion kunas in consolidated revenues, which is 11.6 percent more than in the same period last year, while net profits fell by 2.2 percent to 735 million kunas, reports Večernji List on October 26, 2017.
In the financial statement published on Thursday, the company said that, without taking into account the results of Montenegrin Telecom, revenues were 2.4 percent higher on an annual basis. Without H1 Telecom, the revenues grew by 2.1 percent.
“Croatian Telecom continues to generate revenue growth from mobile telecommunications, broadband internet access and television, wholesale business activities, energy, system solutions and fixed communications,” said the company in the report.
In the first nine months of this year, net profits were realized in the amount of 735 million kunas, which is 17 million or 2.2 percent less than in the same period last year. Without Montenegrin Telekom, the net profits were 709 million kunas, down 5.7 percent, according to the report.
“Net profit results were affected by higher amortisation due to increased infrastructure investments, increased value adjustments of assets primarily associated with higher value adjustment of receivables as a result of the market impact, and financial costs associated with exchange rate differences,” the report states.
It also points out that the realisation of capital investments in the first nine months of this year increased by 28 percent on an annual basis, including the contribution of Montenegrin Telecom. Without this contribution, the realisation of capital investments increased by 18.1 percent compared to the same period last year and amounted to 1.15 billion kunas, according to HT’s report.
“Positive financial results enable us to continue with investments which will provide a solid foundation for next-generation services and premium user experience. In the upcoming period, we will continue to invest in networks, and digital transformation of the company as prerequisites for the best user experience and the premium position in the local and regional markets,” Croatian Telekom’s CEO Davor Tomašković said in the report.
Translated from Večernji List.
