Strong performance in line with expectations: revenue up 2.7%, T-Mobile subscribers up 12.8% to nearly 2.7million, strong growth in broadband, MAXtv and wholesale, proposed dividend of HRK 29.99 per share
27.2.2009
T-Hrvatski Telekom (Reuters: THTC.L, HT.ZA; Bloomberg: THTC LI, HTRA CZ), Croatia’s leading telecommunications provider, announces its consolidated audited results for the financial year 2008.
Group Highlights
- Strong performance in line with expectations
- Solid growth in Internet, Mobile and Wholesale drives 2.7% revenue growth to HRK 8,816 million
(EUR 1,221 million)
- EBITDA* steady at HRK 4,009 million (EUR 555 million); EBITDA margin* remains strong at 45.5%
- Net profit rose 3.2% to HRK 2,310 million excluding the impact of a one-off gain in 2007 (down 6.6% including the impact of the one-off gain)
- Operating cash flow remains strong at HRK 3,112 million (EUR 431 million)
- Proposed dividend of HRK 29.99 per share (2007: HRK 29.56)
T-Mobile
- 12.8% growth in subscriber numbers
- 6.1% increase in revenue to HRK 4,430 million
- Postpaid subscribers up 18.4%, now 59.7% of T-Mobile revenue
- Successful iPhone launch in November
T-Com
- Strong growth in internet and wholesale supports revenue at HRK 5,198, down just 1.0%
- Internet revenue up 33.2%
- ADSL mainlines up 37.0% to 472,653
- MAXtv subscribers up 210.0% to 135,573
* before exceptional items
Ivica Mudrinić, President of the Management Board, said:
“Despite the economic turmoil of 2008, T-Hrvatski Telekom has delivered what it promised: solid growth in revenues, protection of operating margins, strong cash generation and a substantial dividend for shareholders. We have achieved this by focusing on continuing investment in the quality and reach of our network, keeping a tight control on costs, while at the same time offering innovative products such as MAXtv and the iPhone 3G at competitive prices. We will continue to focus on these core priorities as we face the challenges of the coming year.”