Solid performance despite economic uncertainty; revenue up 1.7%, EBITDA up 2.5%, net profit up 6.4%
30.4.2009
T-Hrvatski Telekom (Reuters: THTC.L, HT.ZA; Bloomberg: THTC LI, HTRA CZ), Croatia’s leading telecommunications provider, announces its unaudited results for the first three months of 2009.
Group Highlights
- Revenue up 1.7% to HRK 2,068 million (EUR 279 million) despite challenging economic conditions
- Strong growth in internet and mobile revenue
- EBITDA up 2.5% to HRK 950 million (EUR 128 million); EBITDA margin stable at 45.9%
- Net profit up 6.4% to HRK 583 million (EUR 79 million)
- Operating cash flow and cash position remain strong
T-Mobile
- Subscriber numbers increased by 13.4% to 2.78 million, with a market share of 46.1% by SIM
- Revenue up 6.6% to HRK 990 million (EUR 134 million)
- Postpaid revenue increased by 5.7% to HRK 567 million (EUR 76 million), now 57.2% of T-Mobile revenues
T-Com
- Internet revenue up 29.3% to HRK 272 million (EUR 37 million), now 21.7% of T-Com revenue
- ADSL mainlines up 30.6% to 492,989
- MAXtv subscribers up 167.9% to 150,953
Ivica Mudrinić, President of the Management Board , said:
“Although T-Hrvatski Telekom has produced solid results for the first three months of 2009, we remain cautious about the rest of 2009 and are managing our business accordingly. The Croatian National Bank recently forecast a 4% decline in economic activity this year and that reinforces our view that T-HT’s revenues are likely to decline in 2009. In response to the economic and competitive pressures we are facing, we continue to monitor our key performance indicators very closely and are ready to take whatever actions are necessary to protect shareholder value.”