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Telekom Slovenije's 9-mo cons net profit rises 25%

Telekom Slovenije's 9-mo cons net profit rises 25% hin255/

LJUBLJANA (Slovenia), November 7 (SeeNews) – Telekom Slovenije [LJE:TLSG] said on Thursday its consolidated net profit at the group level increased 25% year-on-year in the first nine months of 2019, reaching 29.4 million euro ($32.6 million).

Telekom Slovenije Group's January-September consolidated net sales revenue fell 6% on the year to 507.4 million euro, the telco said in a filing to the Ljubljana Stock Exchange.

 Operating revenues totalled 511.4 million euro

“Net sales and operating revenue are lower than in the same period of last year; however, the revenue for 2019 no longer includes Blicnet, which was sold in 2018.This year, the revenue from the sale of mobile goods on the retail market was lower, as well as the revenue from IT goods and licences and revenue in the wholesale market,” the company noted.

The group’s consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) expanded 9% to 166.2 million euro.

The group allocated 116.1 million euro for investments during the first nine months of this year.

The Telekom Slovenije Group employed 3,455 as at September 30, down from 3,530 at the end of 2018.

In February, Telekom Slovenije said it has concluded the sale of its 100% stake in its Bosnian unit Blicnet to Bosnian company Telekomunikacije Republike Srpske.

Last month, Telekom Slovenije said it has established a new subsidiary in Kosovo, SIOL Prishtina LLC, with the purpose of providing integrated management of the regional optic fibre network.

Telekom Slovenije's shares closed at 53.6 euro on Wednesday, down 1.11%. They did not trade by 1230 CET on Thursday.

($ = 0.90276 euro)