The telecommunication company O2 Czech Republic increased its net profit by 1.9% year-on-year to CZK1.29bn (€50mn) in 1Q21, according to its interim financial results.
Total consolidated operating income increased by 5.4% y/y to CZK10.11bn for the first three months, mainly due to a growth in revenues from O2 TV, mobile data, ICT and subsidiaries in Slovakia.
O2 revenues in the fixed network increased by 8.9% y/y to CZK3.22bn, while mobile revenues increased by 1.4% y/y to CZK4.97bn in 1Q21. Traffic on O2 networks has doubled due to the effects of the coronavirus pandemic.
"It's been a year since we've been facing all the challenges of a pandemic, and our technologies and services are reliably supporting work from home, distance learning and company operations. We're facing more than doubling network traffic, making distribution channels and often more urgent needs on the part of our customers,” said O2 CEO Jindrich Fremuth.
“This requires not only additional investments in networks and capacities, but also significantly increased efforts and creativity of all people at O2," said Fremuth.
Consolidated investments fell by a third annually to CZK372mn in 1Q21.
The majority owner of O2 is the PPF investment group with a share of about 80%.
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