Croatia's Hrvatski Telekom H1 cons net profit down 2.5% y/y.

By bne IntelliNews July 27, 2012
Croatia's Hrvatski Telekom said its net profit decreased by 2.5% on the year to HRK 808mn (EUR 107mn) in the first half of the year. Total consolidated revenues dropped by 6% on the year to HRK 3.65bn in H1, the company said in a filing with the Zagreb bourse. EBITDA fell by an annual 2.9% to HRK 1.62bn. The number of residential subscribers went down by 4% and of the corporate ones rose by 7.4% on the year. Hrvatski Telekom's CEO, Ivica Mudrinic, said in the statement that the company maintained its leading position on the telecommunications market, adding that the telecom was not immune to the impact of competitive pressures and the persistent economic slowdown in the Croatian economy. He explained that the company will continue to focus on innovation and the provision of premium quality services by the further development of 4G services after the launching of the LTE mobile network this year.

Related Articles

Croatian govt to acquire four companies part of 3.Maj shipyard.

The Croatian government decided on Thursday, March 21, to take over the ownership of all four companies part of local shipyard 3.Maj after which the privatisation of the parent company will be ... more

Croatias Dukat to make takeover bid for Slovenias Ljubljanske Mlekarne.

Croatian dairy producer Dukat said it intends to place a takeover bid for the 49.7% stake it does not yet own in Slovenian peer Ljubljanske Mlekarne. Dukats current stake of 50.3% in the ... more

Croatia's construction output down 2.1% y/y in Jan 2013.

Croatia's construction output fell 2.1% on the year in January 2013 after dropping an annual 19.9% a month earlier, the statistics office said, quoting unadjusted data. Working-day adjusted data, ... more

Dismiss