Optima Telekom reports pre-tax profit

22 Oct 2014

Croatian fixed line operator Optima Telekom has posted turnover of HRK390.7 million (USD65.1 million) for the first nine months of 2014, down 2.2% year-on-year, while EBITDA dropped 6.6% to HRK54.1 million. The firm says the decreases were partly due to lower interconnect revenues, which fell 28% following a regulatory move to reduce mobile termination rates (MTRs). The successful implementation of pre-bankruptcy settlement proceedings and financial restructuring, meanwhile, helped push pre-tax profit to HRK9.2 million, reversing a loss of HRK58.7 million in the year-earlier period.

Optima claimed 189,989 voice telephony customers at the end of September 2014, down 15.1% from 223,885 twelve months before, while DSL broadband subscriptions dropped from 77,288 to 75,280 over the same period. There was some good news in the IPTV sector, however, as the number of users rose from 25,200 to 26,998.

In mid-June 2014 incumbent operator T-Hrvatski Telekom (T-HT) took management control of Optima as part of the latter’s financial restructuring programme; TH-T also has a 9.2% stake in Optima, while Zagrebacka Banka (Zaba) holds 45.5%. After the expiry of a four-year concentration period, the contract between the bank and T-HT will end, as will T-HT’s control over Optima, and T-HT must transfer its management rights to either Zaba or a third party unaffiliated to T-HT.

Croatia, Optima Telekom (incl. H1 Telekom)