Vipnet’s Profit Increased by 12.3 Percent in the First Half of the Year

The telecommunications company Vipnet achieved earnings before interest, taxes, depreciation, and amortization (EBITDA) of 53.6 million euros in the first half of the year, which is 12.3 percent higher than in the same period last year, the company announced on Wednesday.

At the same time, total revenues increased by 1.8 percent to 213.1 million euros.

>>> Collaboration between Vipnet and Japanese Anritsu in the application of big data analytics

Vipnet also stated that investments in the first half of the year amounted to 36.3 million euros, with the majority invested in high-speed fixed internet networks and the 5G transformation process of the mobile network.

“Vipnet continues to record positive business results, achieving organic growth in key market categories. This year is indeed dynamic for the company, as we are simultaneously undergoing digital transformation, an extensive 5G transformation process, and a rebranding process,” emphasized Jiri Dvorjančanski, CEO of Vipnet.

He added that due to the enormous demand for data traffic and meeting future customer needs, they initiated an extensive 5G transformation process and successfully introduced a range of 5G functionalities into the existing network.

“Achieving speeds of over 20 Gbit/s in a live network, which is an absolute record in Croatia, is just an incentive for us to continue providing the best customer experience in Croatia,” he stated. He reminded that after 19 years, Vipnet also announced a rebranding, during which it will become A1 Croatia.

>>> Vip will become A1 by the end of the year

The total number of Vipnet users in the mobile segment increased by 1.1 percent in the first half of the year, reaching 1.8 million. At the same time, the number of users in the prepaid segment fell by 9.1 percent, while the subscriber base grew significantly by 10.9 percent during the same period.

Vipnet also reported that the number of households using their fixed communication and TV services in the first six months of 2018 was 293.8 thousand, which is 3.8 percent less than in the same period last year. The number of fixed broadband lines decreased by 2.8 percent compared to the first half of 2017, while the number of fixed telephony users fell by 4.9 percent.