Croatia's Vipnet 2017 EBITDA rises on higher revenues

Croatia's Vipnet 2017 EBITDA rises on higher revenues Author: Telekom Austria Group. License: All rights reserved.

ZAGREB (Croatia), February 14 (SeeNews) - Telekom Austria said its Croatian unit Vipnet recorded a 9.6% year-on-year growth in earnings before interest, taxes, depreciation and amortisation (EBITDA) to 108 million euro ($133.4 million) in 2017, on the back of increased revenues.

Vipnet's revenues rose by an annual 2.6% to 434.9 million euro in the twelve months through December, Telekom Austria said in its annual financial report on Tuesday.

"Mobile subscribers increased by 3.1% year-on-year, with losses in the prepaid segment while the contract subscriber base continued to rise due to the strong growth of mobile WiFi routers as well as the ongoing general shift from prepaid to contract in the market. This led to a value enhancement of the customer base," Telekom Austria said in the report.

Compared to last year, the fixed-line business has been further strengthened by the acquisition of local peer Metronet, which has been consolidated as of 1 February 2017.

Details follow (in millions of euro):

  2017 2016 y/y %change
Total revenues 434.9 423.9 2.6
EBITDA 108 98.6 9.6
EBIT 12.4 15 -17.2
Capital expenditures 84.7 81 4.7

Source: Telekom Austria

On the mobile segment in Croatia, a market of around 4.3 million, Vipnet competes with the local unit of Swedish telecoms 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 one.Vip.

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