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Telekom Srbija Q1 revenue, profit up 10% y/y - report

Jun 5, 2024, 4:43:35 PMArticle by Iskra Pavlova
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June 5 (SeeNews) - State-controlled Telekom Srbija saw its revenue and profit increase more than 10% on the year in the first quarter of 2024, CEO Vladimir Lucic was cited as saying by local media on Wednesday.

Telekom Srbija Q1 revenue, profit up 10% y/y - report
Source: Telekom Srbija

Lucic gave no further details on Telekom Srbija's financial performance in January-March in an interview for daily Blic.

He recalled that in 2023, the company's consolidated net profit reached a record high 49 billion dinars ($457 million/419 million euro), while the consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 80% to 128 billion dinars.

By the end of June, Telekom Srbija's shareholders will decide on the payout of dividends worth an overall 6.7 billion dinars, the same as in 2023, Lucic said, adding that if approved, the dividend will be distributed in December.

In February, Lucic told local media that Telekom Srbija expects to generate 2 billion euro in revenue in 2024.

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% belong to individual shareholders, according to data from the telco's website.

(1 euro = 117.074 dinars)

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