ZAGREB, April 26, 2018 - In the first quarter of 2018, Hrvatski Telekom (HT) earned a net profit in the amount of 166 million kuna, 11.8% more than in the same period of 2017, while its revenues dropped by 1.1% to 1.8 billion kuna, the telecommunications operator said on Thursday.
"The contribution by Crnogorski Telekom shows net profit realisation increased by 3 million kuna compared to Q1 2017. Excepting the contribution by Crnogorski Telekom, the net profit realised by HT Group in Croatia amounts to 160 million kuna, a 10.1% increase compared to the same period last year," the group said in a financial statement.
Total consolidated revenue generated in the first three months of 2018 amounts to 1.798 billion kuna, which is a 1.1% decrease compared to the same period last year.
"In Q1 2018, EBITDA before exceptional items increased by 11 million kuna, or 1.6%, to 684 million kuna compared to the same period last year. The EBITDA margin is at 38.1%, which is an increase by 1 percentage point. Crnogorski Telekom also contributed to the profitability growth by realising EBITDA in the amount of 50 million kuna, a 5 million kuna increase compared to EBITDA realised in Q1 2017.
"Excluding Crnogorski Telekom's contribution, HT Group's EBITDA in Croatia increased by 0.9% compared to the same period last year, amounting to 634 million kuna, along with an EBITDA margin at 38.3 %."
CAPEX (capital expenditure) realisation increased by 21% compared to Q1 2017, amounting to 442 million kuna, including the contribution by Crnogorski Telekom. Without this effect, HT Group's CAPEX in Croatia increased by 13.8% to 392 million kuna.
"In the first quarter of 2018, Hrvatski Telekom continued to increase key financial indicators. We saw an increase of EBITDA, net profit, and CAPEX, and we will continue on this path. The focus is on investments in infrastructure. In this way, we are creating the foundations for implementation of 5G technology," said Davor Tomašković, president of the Management Board of Hrvatski Telekom.
