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Telekom Srbija's net profit falls slightly in 2017

Telekom Srbija's net profit falls slightly in 2017 Author: Telekom Srbija. License: All rights reserved.

BELGRADE (Serbia), July 13 (SeeNews) - Serbian state-controlled telecom operator Telekom Srbija said it recorded a consolidated net profit of 14.7 billion dinars ($144.7 million/124.5 million euro) in 2017, versus 14.95 billion dinars in the previous year.

Telekom Srbija's operating revenue fell 1.7% last year to 123.7 billion dinars, and earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by 1.2% to 41.8 billion dinars, the consolidated report of the company, posted on its corporate website, shows.

The investments made by Telekom Srbija last year declined by 6.2% to 26.7 billion dinars, the company said.

At the end of 2015, the Serbian government, which controls 51% of the company, decided to retain control of Telekom Srbija after all offers from potential investors for the privatisation of the incumbent telco were deemed unsatisfactory.

The Serbian company is the majority owner of Bosnia’s Telekom Srpske [BANJ:TLKM-R-A], and controls also Montenegrin mobile operator M:Tel.

In Serbia, a market of around 7 million, Telekom Srbija competes in the mobile segment with Vip Mobile, a unit of Telekom Austria, and the local arm of Norway's Telenor. In the fixed-line segment, it shares the market wit Serbia Broadband (SBB), controlled by US private equity firm KKR.

(1 euro = 118.041 dinars)

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