SARAJEVO (Bosnia and Herzegovina), March 2 (SeeNews) – Bosnian telecommunications company HT Mostar [SAJ:HTKM] said its net profit plummeted to 48,500 marka ($29,800/24,800 euro) in 2020, from 115,600 marka a year earlier.
The company's operating revenue shrank 6% to 183.4 million marka in 2020, while operating costs fell 4.7% to 187.6 million marka, Hrvatske Telekomunikacije Mostar (HT Mostar) said in a filing with the Sarajevo Stock Exchange on Friday.
As a result, its operating loss widened to 4.2 million marka from 1.6 million marka in 2019.
The company reported 1.4 million marka profit from financial activities last year, down from 1.9 million marka in 2019.
HT Mostar is the smallest of three telecommunications companies operating in Bosnia, which is made up of two autonomous entities - the Federation and the Serb Republic.
The government of Bosnia's Federation entity owns 50.1% of HT Mostar, Croatian telecommunications operator Hrvatski Telekom (HT) holds a 39.1% stake and Croatian postal operator Hrvatske Poste owns 5.23%. The remainder belongs to smaller shareholders.
HT Mostar is based in the southern city of Mostar and has its customers mainly in the Federation.
The other two Bosnian telecoms are BH Telecom, which is active in the Federation, and Telekom Srpske which operates in the Serb Republic.
(1 euro = 1.95583 marka)