LJUBLJANA (Slovenia), May 11 (SeeNews) – Telekom Slovenije [LJE:TLSG] said on Thursday its consolidated net profit increased 12% on the year to 9.7 million euro ($10.6 million) in the first quarter of 2017.
Consolidated net sales revenues added 2% on the year to 179.9 million euro through March, primarily due to higher revenues on the wholesale market, and higher revenues from broadband and IT services, the telco said in a Ljubljana bourse filing.
Telekom Slovenije Group's operating revenues totalled 181.3 euro million, an increase of 2% on the first quarter 2016, while EBITDA shrank 3% to 50.8 million euro.
"The Telekom Slovenije Group is successfully implementing its adopted Strategic Business Plan in 2017," the company noted. "Again this year the majority of investments will be earmarked for the modernisation and development of broadband fibre optic networks and fourth-generation mobile networks, through which we are creating a platform to attract new subscribers and secure new revenue sources".
The telco earmarked 36.2 million euro for investments in the first quarter of the year.
($=0.9192 euro)