- Revenue up by 1.6%, adjusted EBITDA AL up by 2.5%, Net profit reached EUR 29.9 million
- Continued investment in network and customer experience leadership
- Signed SPA for the acquisition of PRO-PING d.o.o.
- Proposed dividend of EUR 1.69, up 3.0% year-on-year
Hrvatski Telekom maintained its growth trajectory in Q1 2026, delivering a 1.6% YoY revenue growth, supported by positive service revenue development as well as continued growth in the System Solutions business.
Adjusted EBITDA AL increased by 2.5% YoY, reflecting top-line strength, disciplined cost management and ongoing transformation measures.
Net profit after non-controlling interests reached EUR 29.9 million, reflecting improved operating performance and absence of exceptional items on the cost side recorded in Q1 2025.
Market leading investments reached EUR 62.6 million, up by 4.1% YoY, underscoring HT’s continuous commitment to expanding state-of-the-art fiber and mobile infrastructure across Croatia, ensuring constant product and services development and strengthening the foundation for sustainable growth.
Strengthened network and CX leadership
During Q1, Hrvatski Telekom continued to expand the largest FTTH network in Croatia, increasing its footprint by additional 16% year-on-year in new households and businesses covered. Together with continuous improvements in fixed and mobile network performance, this contributes to narrowing the digital gap, providing a digital platform which is the foundation for progress and enables best-in-class customer experience.
In line with its long-term network development strategy Hrvatski Telekom signed a Share Purchase Agreement to acquire of 100% stake in the company PRO-PING d.o.o., a regional broadband provider. Closing of the transaction is subject to regulatory approvals, and it is expected during 2026.
Advancing the ESG agenda
Hrvatski Telekom became the first company in Croatia to receive the Golden HRIO for exemplary sustainable business. The certificate is granted by the Croatian Business Council for Sustainable Development (HR PSOR), following an in-depth external audit and confirms Hrvatski Telekom implementation of the highest sustainability standards across all ESG dimensions.
Through the launch of AIMO! a knowledge-building platform for strengthening AI skills, Hrvatski Telekom is developing national AI educational programs and provides in-demand AI tools that represent the foundation for personal development, raising businesses’ efficiency and broader societal progress.
Attractive shareholders returns
The Management Board and Supervisory Board of Hrvatski Telekom Inc. proposed to the General Assembly a dividend of EUR 1.69 per share, directly benefiting nearly 146,000 shareholders, including private individuals and institutional investors, who directly participate in the company’s success.
The proposed dividend represents a payout ratio of 92.8% of realized Company profit, with dividend yield dividend yield of 4.2%, based on the last price on 23 March 2026.
Unchanged outlook for 2026
Despite the still-volatile environment, Hrvatski Telekom expects to maintain its growth trajectory in 2026, with both revenue and Adjusted EBITDA AL projected to grow at a low single-digit rate. Following the elevated investment cycle in previous years, CAPEX AL is expected to decline moderately, at a low single-digit rate.
The company’s stance on regional expansion remains unchanged, as it continues to diligently assess potential M&A opportunities.
Commenting on the business results for Q1 2026, Nataša Rapaić, CEO of Hrvatski Telekom, stated:
“In Q1 2026, Hrvatski Telekom delivered solid results, continuing our growth momentum. Performance across mobile, fixed and ICT reflects our focus on continuous improvement and our commitment to delivering best-in-market network quality and customer experience.
With over EUR 62 million in investments, we are expanding fiber and 5G networks across Croatia, building a robust digital platform that goes beyond connectivity and supports economic growth and social progress. This is reflected in continued double-digit growth in FTTH coverage (+16%) and further improvements in 5G performance, which are on par with leading European benchmarks.
In sustainability, we became the first company in Croatia to receive recognition for exemplary sustainable business practices in form of a certificate following an in-depth audit. At the same time, we are advancing our AI initiatives, including the launch of AIMO!, a knowledge platform that enables individuals and businesses to build AI capabilities through free education programs and access to relevant tools.
Looking ahead, we will further strengthen our market leadership, sustain growth, and continue investing in critical infrastructure, while accelerating the use of AI across our operations. This will support long-term business development, shareholder value, and the creation of broader value for our customers, the economy, and society.”