Croatian Telecom (HT) achieved a net profit of 752 million kuna in the first nine months of this year, which is 2.9 percent higher than in the same period last year, while revenues stagnated, according to the company’s business results published on Thursday.
In three quarters of 2016, revenues amounted to 5.18 billion kuna, which is 0.1 percent less than in the same period last year. During the same period, there was a 0.6 percent increase in operating profit before interest, taxes, depreciation, and amortization (EBITDA before one-off items) compared to the same period last year. EBITDA amounts to 2.1 billion kuna, with an EBITDA margin of 40.7 percent, the report states.
Croatian Telecom increased its capital investments by 8.3 percent compared to the same period last year, to 977 million kuna, focusing on increasing capacity for broadband internet access and improving customer experience. Optical access in the fixed network has been enabled for 257 thousand households, which is about 30 thousand households more than at the end of the second quarter.
– In the third quarter, we delivered good financial results. We are seeing an increase in the number of users and growth in the mobile business segment, broadband, TV, and energy. We have continued to invest in network infrastructure and innovative services, further strengthening our position as a technology leader in the Croatian market, emphasized Davor Tomašković, CEO of HT, in a statement.
