T-HT’s revenues hit by harsh economy in 2010

15 Feb 2011

Croatian telecoms group T-Hrvatski Telekom (T-HT) has reported that its consolidated revenues fell by 1.7% year-on-year to HRK8.375 billion (USD1.521 billion) in the twelve months to 31 December 2010, inhibited by tough domestic economic conditions. EBITDA slipped slightly, by 0.9% to HRK3.662 billion, whilst full-year group net profit dropped by 9.5% to HRK1.831 billion, due mainly to ‘lower financial income’, according to a press release from the Deutsche Telekom subsidiary. At the group’s mobile division, T-Mobile, twelve-month revenue shrank by 9.1% to HRK3.807 billion despite its total subscriber base growing by 1.5% to 2.9 million at the end of December. During the year, post-paid mobile subscribers increased by 9.0% to break the one million barrier, whilst the group also announced successful LTE-based trials demonstrating 4G mobile broadband. At T-HT’s fixed division, T-Com, highlights included internet revenue rising 19.1% to HRK1.368 billion as ADSL lines in service reached 629,000 at end-December 2010 (up 13.4%) and IPTV subscriptions grew 26.1% to 297,500.

Croatia, Hrvatski Telekom (HT)