July 25 (SeeNews) - Croatia's Optima Telekom [ZSE:OPTE-R-A] said it recorded a consolidated net profit of 5 million kuna ($753,335/676,879 euro) in the first half of 2019, compared to a net loss of 3.9 million kuna a year earlier.
First-half operating income edged down 0.8% year-on-year to 268.2 million kuna, while operating costs fell 6.4% to 194.1 million kuna, Optima said in a Zagreb bourse filing on Wednesday.
Consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 19.2% to 62.5 million kuna on the back of increased operating efficiency, improved business processes and increased cost efficiency.
Consolidated capital investments amounted to 46.3 million kuna in the first half of 2019.
In July, Croatia's biggest telecommunications operator, Hrvatski Telekom [ZSE:HT-R-A], informed the country's anti-trust regulator AZTN that it has launched preparations for the sale of Optima Telekom. HT should launch the sale in January 2020 by way of international tender.
Hrvatski Telekom intends to sell its 17.4% stake, and will have the right to also sell the 36.9% stake of local lender Zagrebacka Banka in Optima, in line with a previous agreement between HT and the bank.
In 2017, AZTN extended HT's temporary management rights over Optima by three years, until July 10, 2021.
(1 euro=7.39908 kuna)