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Hrvatski Telekom's 9-mo cons net profit falls 18% y/y

Hrvatski Telekom's 9-mo cons net profit falls 18% y/y Author: Hrvatski Telekom. License: All rights reserved.

ZAGREB (Croatia), October 31 (SeeNews) - Croatia's biggest telecommunication services provider, Hrvatski Telekom [ZSE:HT-R-A], said on Thursday its nine-month consolidated net profit decreased 18.3% on the year to 677 million kuna ($101.4 million/90.8 million euro).

Consolidated revenues in the nine months through September fell by 1.3% to 5.713 billion kuna, Hrvatski Telekom said in a statement filed to the Zagreb Stock Exchange (ZSE).

Earnings before interest, taxes, depreciation and amortisation (EBITDA) before exceptional items decreased by 4.8% to 2.238 billion kuna with a margin of 39.2%.

Hrvatski Telekom invested 1.086 million kuna in the first nine months of 2019, mainly in the modernisation of the fixed and mobile network infrastructure, the company said.

"I am proud to be the head of a company that contributes directly 3% of Croatia's GDP, and last year contributed directly and indirectly 11.3 billion kuna in induced GDP, created 30,200 jobs, and generated 3.26 billion kuna in taxes and contributions," CEO Konstantinos Nempis, said.

Hrvatski Telekom is 51%-owned by Deutsche Telekom.

(1 euro = 7.45406 kuna)