T-HT reports 1Q results; IPTV users up 66%

4 May 2010

T-Hrvatski Telekom (T-HT), Croatia’s dominant telecoms provider, has announced unaudited results for the three months to 31 March 2010. Group revenue was down 6% year-on-year to HRK1.94 billion (USD353 million) as competition intensified and recession and special taxes impacted its mobile business. EBITDA also fell, by 13.8% y-o-y to HRK819 million, and net profit decreased by 34.2% to HRK384 million, reflecting significantly lower income. At the beginning of the quarter a new ‘Residential’ and ‘Business’ divisional structure was implemented, following the merger of T-HT’s mobile unit T-Mobile Croatia into the parent telco. T-Mobile’s subscribers increased by 0.6% in the three-month period to nearly 2.8 million, including an 11.9% rise in post-paid users to 944,000; the monthly contract customers contributed 58.9% of T-Mobile’s quarterly revenues, which were down 12.9% to HRK863 million. T-HT’s T-Com fixed and broadband operations saw internet growth continue in 1Q10, as the segment’s revenues climbed 20.6% to HRK328 million, ADSL lines increased by 16.3% to 573,000 and IPTV subscribers jumped 66.1% year-on-year to 251,000 at the end of March.

Croatia, Hrvatski Telekom (HT)