A1 Srbija's EBITDA up 2.9% y/y in Q1

Total revenue of A1 Srbija increased by 1.7% year-on-year in the review period to 93 million euro, as service revenues rose 6.3% to 69 million euro, A1 Telekom Austria said in a quarterly financial statement published on Tuesday.

EBITDA margin of A1 Srbija came in at 34.2% in the first quarter, up from 33.8% in like period of last year.

"In Serbia, market conditions remained pretty unchanged. Total revenues grew mainly driven by an increase in the retail mobile business. Core OPEX increased due to higher total workforce costs as well as higher electricity costs. In this challenging environment on the cost side, EBITDA still grew," A1 Telekom Austria said.

A1 Srbija, previously known as Vip Mobile, was the third largest mobile services provider in Serbia at the end of 2023, with a 23.98% market share, according to data from the country's telecommunications agency.

($ = 0.9399 euro)