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UPDATE 1 - Hrvatski Telekom's cons net profit falls 1.2% y/y in H1

UPDATE 1 - Hrvatski Telekom's cons net profit falls 1.2% y/y in H1 Author: Hrvatski Telekom. License: All rights reserved.

ZAGREB (Croatia), July 25 (SeeNews) - Croatia's biggest telecommunication services operator, Hrvatski Telekom [ZSE:HT-R-A], said on Thursday its first-half consolidated net profit fell 1.2% on the year to 435.3 million kuna ($65.6 million/58.8 million euro).

First-half consolidated revenues edged up 0.4% to 3.8 billion kuna, Hrvatski Telekom (HT) said in a statement.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) before exceptional items decreased 1.3% to 1.403 billion kuna with a margin of 38%, while earnings before interest and taxes (EBIT) added 1.4% to 598 million kuna.

HT's mobile customer base slightly increased, by 0.8% year-on-year to 2.286 million customers at the end of June, mainly as a result of attractive postpaid packages.

Total fixed access mainlines decreased by 5.8% to 798,000 as of end-June, driven by the market trend of fixed to mobile and IP migration, regulations and enhanced competition.

As at the end of June, the broadband customer base decreased 0.4% on the year at 619,000, while the telco's TV subscribers increased 18% to 490,000 as a result of continuous improvements to service and programme offer through premium content.

Hrvatski Telekom is 51%-owned by Deutsche Telekom.

(1 euro = 7.37346 kuna)