30 April, 2013
T-Hrvatski Telekom (Reuters: THTC.L, HT.ZA; Bloomberg: THTC LI, HTRA CZ), Croatia’s leading telecommunications provider, announces unaudited results for the three months to 31 March 2013.
Ivica Mudrinić, President of the Management Board (CEO), said: Our business in the first quarter was again impacted by the sluggish economy as well as intensified regulatory and competitive pressure. In the face of this difficult environment, we have increased our efforts to maintain and grow our customer base and to promote the Group’s broadband and TV products. Whilst this necessitated significantly higher merchandise costs than in Q1 2012, we are confident that the investment will pay off soon.
The factors outlined above exerted downward pressure on our Q1 performance. Nevertheless, in light of our strong market position and strategic focus, we are maintaining our outlook for the full year 2013.
We continue to execute a strategic vision aimed at positioning the Group for growth, developing innovative products and tariffs that put the requirements of our customers at the very heart of everything we do in both the Residential and Business markets. These include customised tariffs, bundled offers, an ongoing pilot of mobile payments using NFC technology and a growing range of Cloud-based services.
We are also continuing to pilot TeraStream, the most advanced network deployment concept, which facilitates simple implementation and integration of advanced next-generation services and raises access network speeds exponentially. At the same time we are investing in next-generation 4G networks and the migration of our fixed-line customers to the IP network, to facilitate the introduction of new IP-oriented and fixed-mobile convergent services.”