Telekom Slovenije’s net profit drops 71%, revenues up 1%

26 Feb 2010

Slovenian and south-east European telecoms group Telekom Slovenije has posted a 1% year-on-year rise in consolidated annual revenue to EUR856.1 million (USD1.16 billion) in 2009, but net profit decreased by 71% in the year to EUR24.6 million. EBITDA also fell by 14% to EUR267.8 million in the twelve-month period, whilst the EBITDA margin declined from 36.7% in 2008 to 32.3%, and operating income halved to EUR64.1 million. In 2009 the group invested EUR184.8 million in the construction, upgrade and development of networks and services, including EUR121 million in Slovenia and EUR63 million across its south-east European subsidiaries. Meanwhile, the largest financial investment during the year was the purchase of Macedonian cellco Cosmofon for EUR185.6 million.

Group-wide, Telekom Slovenije’s total fixed and mobile subscriber base numbered 2.771 million by the end of December 2009, up by 25% compared to the previous year, including 2.139 million mobile connections and 632,000 landlines, whilst it reported a total of 321,000 fixed broadband lines in service by that date. The fastest growth was registered by subsidiaries in Macedonia under the ‘One’ brand, and Ipko, the group’s Kosovan unit. Ipko, which entered the mobile telephony market in December 2007, had 532,000 cellular subscribers by end-2009, served by a network covering 99% of the population, which the parent company claimed gave it a market share of approximately 35%.

Slovenia, IPKO, Telekom Slovenije (incl. Mobitel)