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ZAGREB (Croatia), January 31 (SeeNews) - Telekom Austria said its Croatian unit Vipnet recorded a 12.3% year-on-year growth in earnings before interest, taxes, depreciation and amortisation (EBITDA) to 88.3 million euro ($95 million) in 2016, on the back of increased revenues.
Vipnet's revenues rose by an annual 8.6% to 398.3 million euro in the twelve months through December, Telekom Austria said in a full-year 2016 financial report released on Monday.
"The Croatian segment continued to exhibit positive operational trends, which were based on the ongoing growth of its fixed-line business and stronger mobile trends amidst slightly higher competition in both the mobile and fixed-line business, with a push of bundles and convergent products", according to the report.
In December 2016, Vipnet signed an agreement for the acquisition of fixed-line operator Metronet in Croatia; the company is expected to be consolidated in the first quarter of 2017.
On the mobile segment in Croatia, a market of around 4.3 million, Vipnet competes with the local unit of Swedish telecommunications group Tele2 and with the wireless arm of incumbent Hrvatski Telekom.
Besides Vipnet, the wireless operations of Telekom Austria include Velcom in Belarus, Mobilkom Austria, Bulgaria's Mobiltel, Slovenia's Si.mobil, Serbia's Vip Mobile, and Macedonia's Vip Operator.