HT reports 3.4% increase in revenue, net profit down

In the first quarter of this year Croatian Telecom (HT) generated a net profit after non-controlling interests of HRK 136 million, which was 15 million or 10.1% less than in the same period of 2015. The company's revenue increased, shows a consolidated financial report the HT group issued on Thursday.  

Net profit totalled HRK 132 million and was 7% down from the same period of last year.

The company's revenue in Q1 was 3.4% up from the same period of last year, amounting to HRK 1.67 billion, which was mostly owing to increased revenues from the ICT business segment, good results in the energy business, and increased sales of mobile handsets.

EBITDA before exceptional items was stable at HRK 627 million, a decline of 0.1 per cent year-on-year, at an EBIDTA margin of 37.5 per cent. The EBITDA margin declined by 1.3 p.p. in comparison to the same period last year, due to increased revenues from segments with a lower profit margin and increased investment in market activities, reads the report.

After having invested HRK 1.47 billion in infrastructure development in 2015, HT continues to make substantial investments in three key areas – development of the mobile and fixed infrastructure and increased broadband Internet access capacity. In comparison to the first quarter of last year, capital investment increased by HRK 41 million, or 15.2 per cent, says the report. 

In 2016 HT continues the HorizonT strategic programme, which is mainly aimed at increased efficiency, improved business operations of the company, and further growth and development of business.

The first quarter also saw the completion of a surplus management programme resulting in 240 employees leaving the company.

Last update: Thu, 28/04/2016 - 11:14
Author: 

More from Business

Trump's warning to German carmakers hits shares

Shares in German carmakers tumbled on Monday after incoming US president Donald Trump threatened the industry with...

Report: Ex-Volkswagen head knew about scandal two months before

Former Volkswagen chief executive Martin Winterkorn knew about the company's emissions scandal two months earlier...

Takata to pay 1-billion-dollar criminal fine over defective airbags

Beleaguered Japanese car-parts supplier Takata has agreed to pay a criminal penalty of 1 billion dollars, and three...

India's SpiceJet to buy 205 Boeing jets in 22-billion-dollar deal

Indian budget airline SpiceJet will purchase 205 planes worth 22 billion dollars from US manufacturer Boeing, one of...

Amazon plans to create more than 100,000 new jobs in the US

The world's largest online retailer Amazon plans to create 100,000 new jobs in the US over the next 18 months.