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Telekom Slovenije suffers sharp fall in 9-mo cons net profit on One deal

Telekom Slovenije suffers sharp fall in 9-mo cons net profit on One deal hin255/Shutterstock.com

LJUBLJANA (Slovenia), October 27 (SeeNews) - Telekom Slovenije [LJE:TLSG] said on Thursday its consolidated net profit plummeted to 23.5 million euro ($25.6 million) in the first nine months of 2016 from 72.5 million euro a year earlier due to the one-off effect of the exclusion of its Macedonian unit One from the group's financial results in 2015.

The group's revenues dropped 5% to 522.5 million euro through September, the company indicated in a bourse filing.

The key financial indicators of the Telekom Slovenije Group are not directly comparable to the results in the same period last year, since One was included in consolidation until July 31, 2015.

"A comparison of revenues in the first nine months of 2015 excluding One indicates that the net revenues generated over the first nine months of 2016 were 5.1 million euro or 1% higher," Telekom Slovenije said.

In 2015, Telekom Slovenije merged ONE with Telekom Austria’s Vip Operator, getting a 45% share in the newly established company.

($=0.9164 euro)

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