Telekom Slovenije group’s net profit drops by 22% in H1

Telekom Slovenije group’s net profit drops by 22% in H1

Ljubljana, July 28, 2016/Independent Balkan News Agency

The group around Telekom Slovenije generated EUR 347.8m in net sales revenues in the first half of the year, which is a 5% drop year-on-year. The group’s net profit was also down, by 22% to EUR 17.3m, showed an unaudited report published on Thursday.

The core company’s EBITDA was up by 1% to EUR 91.1m, while net profit dropped by 24% to EUR 23.9m (Photo: Telekom Slovenije)

The core company’s EBITDA was up by 1% to EUR 91.1m, while net profit dropped by 24% to EUR 23.9m (Photo: Telekom Slovenije)

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) at the group level amounted to EUR 108m in the first half, which is 5% more than in the same period last year.

The share of EBITDA in net sales revenues was up by 3 percentage points to 30.3%.

Core company Telekom Slovenije meanwhile generated EUR 320.9m in revenues in the January-June period, up 2% year-on-year.

The growth in revenue is attributed to higher earnings from IT, broadband and wholesale services, said Telekom Slovenije.

The core company’s EBITDA was up by 1% to EUR 91.1m, while net profit dropped by 24% to EUR 23.9m.

Telekom Slovenije issued EUR 100m in five-year bonds in the first half of the year, which completed the company’s borrowing plan for 2016.

The group plans to generate EBITDA in the amount of EUR 198m and EUR 34m in net profit for the entire year.

Investments will amount to a total of EUR 156m this year, the bulk of it going for an expansion of the optical and mobile network.

Source: The Slovenia Times