T-HT’s 9M net profit slumps 15% y-o-y

1 Nov 2010

Croatia’s former monopoly telco T-Hrvatski Telekom (T-HT) has reported that its consolidated net profit fell by 15% year-on-year to HRK1.48 billion (USD279 million) in the first nine months of 2010, despite good subscriber growth in its broadband internet and IPTV businesses. T-HT, a subsidiary of Deutsche Telekom, ended September with 271,000 subscribers to its IPTV service MAXtv, up by 43.3% y-o-y, whilst fixed broadband subscriber lines in service rose by 13.9% to 600,000 by the same date, driving up internet-based revenue by 19.9% y-o-y to HRK1.02 billion in 9M10. Overall, though, a troubled economy and new taxes contributed to a 3.2% fall in consolidated sales to HRK6.32 billion in the first three quarters of the year, whilst 9M EBITDA fell by 6.4% to HRK2.86 billion and net profit by 15% to HRK1.48 billion.

Croatia, Hrvatski Telekom (HT)