HT achieved a profit of 166 million kuna

Hrvatski Telekom (HT) achieved a net profit of 166 million kuna in the first quarter of this year, which is 11.8 percent higher than in the same period last year, while revenues fell by 1.1 percent to 1.8 billion kuna, the telecommunications company announced on Friday.

Montenegrin Telekom contributed with a net profit of 3 million kuna higher than in the first quarter of 2017. Without the effect of Montenegrin Telekom, the net profit of the HT Group in Croatia amounts to 160 million kuna, which is 10.1 percent higher compared to the same period last year, the report states.

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Total consolidated revenues in the first three months of 2018 amounted to 1.798 billion kuna, which is 1.1 percent less compared to the same period last year.

EBITDA before one-off items in the first quarter increased by 11 million kuna, or 1.6 percent, compared to the same period last year, to 684 million kuna. The EBITDA margin is 38.1 percent, which is an increase of 1 percentage point.

The increase in profitability is also contributed by Montenegrin Telekom, which achieved EBITDA of 50 million kuna, 5 million kuna higher than the EBITDA achieved in the first quarter of 2017.

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Without the effect of Montenegrin Telekom, the HT Group in Croatia achieved an EBITDA that is 0.9 percent higher compared to the same period last year, amounting to 634 million kuna and an EBITDA margin of 38.3 percent.

The realization of capital investments increased by 21 percent compared to the first quarter of 2017, to 442 million kuna, including the contribution of Montenegrin Telekom. Without the effect of Montenegrin Telekom, the capital investments of the HT Group in Croatia increased by 13.8 percent, to 392 million kuna.

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– Hrvatski Telekom continued to increase key financial indicators in the first quarter of 2018. We are recording an increase in EBITDA, net profit, and capital investments, which we will continue to do. The focus is on investments in infrastructure, thereby laying the foundations for the introduction of 5G technology, emphasized Davor Tomašković, CEO of HT, in the report.