Optima Telekom Ends Half-Year with Decline in Revenue and Profit

Telecom company Optima Telekom (OT), which is undergoing pre-bankruptcy proceedings, concluded the first half of this year with total consolidated revenues of 277.1 million kuna, a decrease of 4.5 percent compared to the same period last year, while operating profit (EBITDA) fell by 8.8 percent to 41 million kuna, the company reported today.

Regarding this decline in EBITDA, OT states that it is partially a result of the initiation of pre-bankruptcy proceedings and the associated increased costs, while the decline in revenue was most affected by revenues from public voice services, which are experiencing a global downward trend and recorded the largest decrease.

They also add that the decline in revenue from the voice services segment is primarily due to a reduction in usage minutes in voice services and a decrease in the price per minute.

In contrast, OT highlights a half-year revenue growth from internet services of nearly 21 percent, reaching 48.5 million kuna, accompanied by a revenue increase from multimedia services of as much as 57.1 percent and a revenue increase from data services of nearly 85 percent compared to last year’s first half.

They emphasize that their capital investments have been in line with the plan for developing their own infrastructure for this year and that they have so far established 280 collocations connected to their own infrastructure network.

Additionally, they have invested in infrastructure development, which, as they state, necessarily requires the construction of their own fiber optic network, having built 37 kilometers of new fiber optic network during the first half of this year.

Regarding the half-year results, OT’s CEO Matija Martić emphasizes that they are primarily a consequence of unfavorable market conditions and the initiation of pre-bankruptcy proceedings, but despite this, they expect that in the upcoming period, through the implementation of a financial and operational restructuring plan, they will become a liquid and solvent company.