Telekom Slovenije EBITDA up 3% on 2% sales drop

2 Mar 2012

Slovenian and southeast Europe communications group Telekom Slovenije has posted a 3% increase in annual consolidated EBITDA to EUR255.6 million (USD340.6 million) in 2011, despite a 2% fall in revenues to EUR824.5 million. Group net income was reported at EUR34 million, compared to a loss of EUR210 million twelve months earlier, as total operating expenses were reduced to EUR766.2 million in the year, from EUR1.027 billion in 2010.

In Slovenia the parent company’s pro forma financial statements include its domestic mobile arm Mobitel from 1 January 2011 onwards – the cellco was merged into the fixed line operator on 1 July 2011. For the year, total domestic fixed, broadband and mobile operating revenue reached EUR698.7 million in FY11, down from EUR714.8 million in 2010, while operating profit saw an increase, from EUR49.7 million to EUR68.4 million, and the company reported a net profit of EUR21.3 million, compared to a pro forma net loss of EUR237.1 million, on a drop in finance costs from EUR299.5 million in FY10 to EUR64.9 million the following year. Ahead of the merger, in the first six months of 2011 Mobitel generated a standalone net profit of EUR21.3 million on operating revenues of EUR185.7 million, with operating expenses of EUR161.6 million.

Telekom Slovenije expects a consolidated group net profit of EUR55 million in 2012, with projected EBITDA of EUR280 million and CAPEX ranging from EUR120 million to EUR135 million.

Slovenia, Telekom Slovenije (incl. Mobitel)