Revenue up 2.1%, T-Mobile breaks through 2.5 million subscribers; strong growth in ADSL and MAXtv.
7.8.2008
T-Hrvatski Telekom (Reuters: THTC.L, HT.ZA; Bloomberg: THTC LI, HRTA CZ), Croatia’s leading telecommunications provider, announces its unaudited interim results for the six months ended 30 June 2008.
Group Highlights
- Revenue up 2.1% to HRK 4,193 million (EUR 577 million), driven by internet, wholesale and mobile services
- EBITDA down 2.4% to HRK 1,932 million (EUR 266 million) because of increased operating expenses; EBITDA margin of 46.1%
- Net profit down 15.6% to HRK 1,125 million (EUR 155 million) because of lower income from HT Mostar compared with H1 2007, which included one off gains. Excluding the impact of one-off gains, net profit rose 2.3%.
- Net cash flow from operations up 2.4% to HRK 1,038 million (EUR 143 million)
- HRK 2,421 million dividend payment in May , representing payout ratio of 100%
- Offering of shares in June to former and current employees reduces Government holding to 5.2%
- Resolution of DTI (Distributive Telecommunication Infrastructure) access rights as expected
- Full-year 2008 guidance remains unchanged
T-Mobile
- Revenue up 4.2% to HRK 2,007 million (EUR 276 million)
- Subscriber numbers up 14.5% to 2,543,257
- Monthly minutes of use up 5.8% to 127.7 minutes per subscriber
- National roaming agreement with TELE 2 effective from June
T-Com
- Revenue steady at HRK 2,563 million (EUR 353 million)
- ADSL mainlines up 45.4% to 402,880
- MAXtv subscribers up 3.4x to 71,602
Ivica Mudrinić, President of the Management Board and CEO, said:
“T-Hrvatski Telekom had an excellent first half of 2008. Our strategy is delivering stable revenue with healthy margins that support strong generation of cash. Our focus on quality and competitive pricing has helped the Group maintain leadership in all market segments, with good growth in mobile subscriptions and high-speed internet. We remain confident of continuing our strong performance throughout 2008.”