Crnogorski Telekom's net profit rises to 6.6 mln euro in 2023

Crnogorski Telekom's sales revenue rose 6.1% in 2023, while its earnings before interest, taxes, depreciation and amortisation (EBITDA) added 6.1% to 30.1 million euro, the company said in a statement on Friday without providing a figure for the sales revenue.

According to Crnogorski Telekom's financial report for 2022, its sales revenue came in at 79.2 million euro that year.

In 2023, the number of Crnogorski Telekom mobile internet users rose 3% to 249,000, the number of its active postpaid cards was up 8% to 308,000, while the number of the active prepaid cards increased 4% to 170,000, the company said.

Crnogorski Telekom is 77%-owned by Deutsche Telekom's Croatian arm Hrvatski Telekom. It is the second largest mobile services provider in Montenegro, a country of some 630,000 people. It competes with M:tel (part of Telekom Srbija group) and One Crna Gora (part of Hungary's 4iG).

At the end of 2023, M:tel had a 36.7% share of the overall number of subscribers, followed by Crnogorski Telekom with 36.4% and One with 26.9%, according to the national telecommunications regulator, EKIP. The number of mobile phone subscribers in Montenegro increased 3.1% year-on-year to 1,312,960 at the end of 2023, while the mobile penetration rate in the country dropped to 211.76% in December from 220% at the end of November.

Crnogorski Telekom's shares last traded on the Montenegro bourse on February 16, closing 2.16% lower at 1.81 euro.

($ = 0.923 euro)