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Tele2 Croatia's 9-mo EBITDA soars

Tele2 Croatia's 9-mo EBITDA soars Photo: All Rights Reserved

ZAGREB (Croatia), October 17 (SeeNews) – Swedish telecommunications group Tele2 said on Thursday its Croatian wireless unit recorded EBITDA of 351 million Swedish crowns ($36 million/32.5 million euro) in the first nine months of 2019, up from 198 million crowns in the like period of last year.

Tele2 Croatia’s total revenue increased 9% on the year to 1.582 billion crowns in the first nine months, the parent company said in a third-quarter financial report.

The capital expenditures of Tele2 in Croatia rose to 98 million crowns in the first nine months of the year from 70 million crowns in the like period of 2018.

On May 31, Tele2 entered into an agreement to sell Tele2 Croatia to United Group for an enterprise value of 220 million euro.

In Croatia, a country of 4.3 million, Tele2 competes with A1 Croatia, a subsidiary of A1 Telekom Austria, and the mobile arm of Hrvatski Telekom.

(1 euro = 10.7857 Swedish crowns)

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