Croatian incumbent telco T-Hrvatski Telekom (T-HT), earned revenues of HRK8.517 billion (USD1.589 billion) in full-year 2009, down by 3.1% from HRK8.791 billion the previous year. EBITDA after exceptional items reached HRK3.695 billion in the twelve-month period, although this also decreased year-on-year by 6.8%, whilst net profit after minority interests fell by 12.4% to HRK2.023 billion. Mobile operations under the T-Mobile Croatia banner saw revenues fall 5% in January-December 2009 despite a 6.3% increase in subscribers to 2.86 million, as the national recession and recently imposed government taxes took effect. The cellular customer base saw 13.5% growth in post-paid users to nearly 920,000 in twelve months compared to a 3.2% increase in pre-paid SIMs. At fixed and broadband division T-Com, internet revenue rose 27.7% year-on-year to HRK1.149 billion, driven up by a 17.4% increase in ADSL subscribers to 555,000 and IPTV subscriptions which jumped 74.1% to 236,000.
Ivica Mudrinic, CEO of T-HT, said: ‘This has been a very challenging year for Croatia but having anticipated the pressures that the recession would impose on our business, we began the year with the priority of protecting revenues and margins. I am pleased to say that our strategy has worked and we have delivered a resilient set of results that reflect the high-quality services and tight cost controls… We successfully reorganised the group so that we can serve our customers even more effectively and I believe we are in good shape to prosper when the economy begins to recover.’ On 1 January 2010 the corporate divisions of T-Com and T-Mobile were replaced by a new structure based upon Residential and Business units. The process of reorganisation began in July 2009 with the realignment of sales teams and was completed with the merger of T-Mobile into parent Hrvatski Telekom at the close of the year. The restructuring is in line with strategic policy at parent group Deutsche Telekom.