ZAGREB (Croatia), October 21 (SeeNews) – Swedish telecoms group Tele2 said its Croatian wireless unit turned to positive earnings before interest and taxes (EBIT) of 25 million Swedish crowns ($2.8 million/2.6 million euro) in the first nine months of 2016, from a negative EBIT of 7 million crowns a year earlier.
In the first nine months of 2016, Tele2 Croatia lost 14,000 customers year-on-year, lowering its customer base to 871,000, the parent company said in a financial report on Thursday.
Tele2 Croatia’s net sales increased 7.6% on the year to 1.09 billion crowns through September while its earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased 26.6% to 80 million crowns.
The company's capital expenditures in Croatia dropped to 100 million crowns in the first nine months of the year from 179 million crowns in the same period last year.
In Croatia, a country of 4.3 million, Tele2 competes with Vipnet, a subsidiary of Austria's Mobilkom, and the mobile arm of incumbent telco Hrvatski Telekom.
(1 euro=9.69568 Swedish crowns)