24.7.2025
Business results for the first six months of 2025
Solid business development: Revenue up by 4.4%, adjusted EBITDA AL up by 3.0%, Net profit reached EUR 58.0m
- Solid business development: Revenue up by 4.4%, adjusted EBITDA AL up by 3.0%, Net profit reached EUR 58.0m
- Market leading investments EUR 116.9m
- HAKOM recognition for the best mobile network for the 3rd consecutive year
- Secured exclusive broadcasting rights for HNL matches until 2031
In H1 2025 , Hrvatski Telekom has maintained its growth trajectory, delivering a 4.4% YoY revenue growth, a result of positive business developments across mobile and fixed service revenues.
Adjusted EBITDA AL grew by 3.0%, driven by top-line performance, offsetting still persisting cost pressures. Net profit after non-controlling interests grew by 1.6% in H1 2025, as growth in adjusted EBITDA AL was partially offset by depreciation and net financial result.
In H1 2025 investments reached EUR 116.9 million, up by 15.1% YoY, underlining HT’s dedication to provide the platform for the country’s digitalization and building high-performing modern fiber and 5G infrastructure across Croatia.
Strengthened network leadership
During H1, we continued to expand the largest FTTH network in Croatia, increasing our footprint by 20% in new households and businesses YoY. This makes a step closer toward our goal of bringing gigabit fiber speeds to over 1.1 million households and businesses in Croatia.
Our mobile network has once again been recognized as the best one in Croatia. This has been confirmed by independent national research of mobile networks organized by the Croatian Regulatory Authority for Network Industries (HAKOM). For the third consecutive year, each year since the research began, Hrvatski Telekom has achieved the best performance across all evaluated categories.
Won exclusive broadcasting rights for national football league for the additional 5 years
As part of our commitment to delivering exceptional value to our customers, we continued to enhance our content offerings. In line with this, Hrvatski Telekom won exclusive broadcasting rights for the national football league (HNL) matches for additional five seasons, starting with the 2026/2027 season and ending with the 2030/2031 season. All HNL top tier matches will be broadcast exclusively on HT’s MAXSport.
The General Assembly approved separation of passive mobile infrastructure into wholly owned subsidiary
In June, the General Assembly approved the separation of our passive mobile infrastructure assets into a company fully owned by Hrvatski Telekom. This strategic move aligns with a broader European trend of towers asset separation, aimed at improving operational efficiency and unlocking additional value. The conclusion of the separation is foreseen for the third quarter of 2025.
New mandates for Management Board members
The Supervisory Board appointed for the next term of office in the duration of three years, Matija Kovačević, as Management Board Member for Finance, Marijana Bačić as Management Board Member for Business, Siniša Đuranović, as Management Board Member for Corporate Affairs, and Boris Drilo, as Management Board Member for Technical and Information functions.
Attractive capital return for shareholders
In June, the General Assembly confirmed the joint proposal by the Management Board and the Supervisory Board and brought decision on the distribution of Net profit for 2024. The amount of EUR 1.64 per share represents the highest dividend payment since 2013 and growth of 7.2% compared to the previous year.
In H1 2025 Hrvatski Telekom, within the framework of ongoing Share Buyback Program has purchased additional 704,812 Company shares on the Zagreb Stock Exchange. The total number of acquired Company shares on 30 June 2025 amounted to 1,498,491 representing 1.92% of the Company’s issued share capital.
Unchanged Outlook for 2025
Although the environment remains challenging and volatile, our primary objective is to continue with our growth trajectory. We are confirming our Outlook from February aiming for a low single-digit growth in revenue, EBITDA AL, and CAPEX AL compared to 2024. Our stance on regional expansion remains unchanged, as we diligently assess potential M&A opportunities.
Commenting on the business results for Q2 2025, Nataša Rapaić, CEO of Hrvatski Telekom, stated:
"In the first six months of 2025, despite the still challenging environment, we delivered on our key objectives: recording good business results, growing in residential and business segments, in mobile, fixed and ICT services, continuing to provide the best customer experience, and building gigabit fiber and 5G infrastructure across Croatia, from large cities to rural areas, providing the economy and society with a key digital platform.
With investments that exceeded 115 million euros in the first half of the year, we further strengthened our position as the leading network, expanding the FTTH network by an additional 20 percent. These, market leading investments also resulted with key network performance improvements, maintained high level of customer satisfaction, and another recognition from the regulator, recognizing our mobile network once again as the best in Croatia, and with a considerable margin.
Committed to providing additional value by delivering the best content, we have again secured the exclusive broadcasting rights for national football league matches, which MAXtv viewers will be able to enjoy for an additional five seasons.
Going forward, our focus will be on further increasing operational efficiency, continuing the application of innovative technologies, enabling advanced AI solutions that increase the productivity of businesses and contribute to social progress. By providing the best customer experience and with the engagement of our employees, we will continue to grow sustainably and make our contribution to accelerating the digital transformation and development of Croatia."