Solid performance; revenue increased 0.7% despite economic crisis
30.7.2009
T-Hrvatski Telekom, Croatia’s leading telecommunications provider, announces its unaudited results for the first six months of 2009.
Group Highlights
- Revenue up 0.7% to HRK 4,208 million (EUR 569 million)
- Continuing strong growth in Internet services; growth in mobile revenue
- EBITDA* slightly down by 0.5% to HRK 1,923 million; EBITDA* margin remains strong at 45.7%
- Operating cash flow and cash position remain strong
- Significant investment in network upgrades
- Dividend payment of HRK 29.99 per share
T-Mobile
- Subscriber numbers increased by 12.7% to 2.87 million, with a market share of 47.6% by SIM
- Revenue up 1.1% to HRK 2,017 million (EUR 273 million) despite challenging economic conditions
- Postpaid revenue increased by 1.8% to HRK 1,193 million (EUR 161 million), 59.1% of T-Mobile revenue
T-Com
- Internet revenue up 30.6% to HRK 555 million (EUR 75 million), 22.1% of T-Com revenue
- ADSL mainlines up 26.6% to 509,874
- MAXtv subscribers up 138.2% to 170,591
* before exceptional items
Ivica Mudrinić, President of the Management Board and CEO, said:
“T-HT has achieved a slight revenue increase, driven by growth in its internet customer base, growth in the mobile customers and growth in mobile data services, whilst managing costs to protect margins. This is a commendable performance at a time when the Croatian Economy has been under considerable stress.
We are obviously concerned about the economic crisis and the Government’s plan to raise taxes, including the proposed tax on mobile services. In light of these developments, T-HT will strive to compensate the tax impact through optimised service offerings, cost management and a review of our plans for infrastructure investments.”