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Telekom Srbija eyes 3 bln euro revenue by 2029 - report

Jul 10, 2024, 1:50:30 PMArticle by Iskra Pavlova
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July 10 (SeeNews) - State-controlled Telekom Srbija plans to raise its annual revenue to 3 billion euro ($3.25 billion) by 2029, CEO Vladimir Lucic told local media.

Telekom Srbija eyes 3 bln euro revenue by 2029 - report
Source: Telekom Srbija

In the first half of 2024, Telekom Srbija saw its revenue rise by 15% on the year, Lucic was quoted as saying by local news agency Tanjug on Tuesday. He didn't provide a specific figure for the January-June revenue.

In February, Lucic said Telekom Srbija expects to generate 2 billion euro in revenue in 2024.

In April, he reported that Telekom Srbija's revenue rose 37% to 164 billion dinars ($1.5 billion/1.4 billion euro) in 2023, with net profit soaring 156% to 34 billion dinars, and earnings before interest, tax, depreciation and amortisation (EBITDA) increasing 78% to 88 billion dinars.

The government in Serbia controls 58.11% of Telekom Srbija, the company itself has a 20% stake, current and former employees own a combined stake of 6.94%, while the remaining 14.95% belongs to individual shareholders.

In addition to Serbia, the company also has operations in neighbouring Bosnia and Herzegovina, North Macedonia and Montenegro.

(1 euro = 117.017 dinars)

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