Deutsche Telekom-owned Croatian service provider T-Hrvatski Telekom will look to invest further in its infrastructure and explore opportunities to expand into other regional markets in response to a tough year when its performance was hit by the economic downturn, according to the company’s management.
The group continued to perform well in the TV segment. T-Hrvatski Telekom had 390,755 TV customers at the end of last year, up 7.3% year-on-year. The telco had 628,414 fixed broadband customers at the end of December, down 0.7%.
Overall revenue fell by 6.8% to HRK7.04 billion (€920 million) for the full year, driven down by the impact of the economic downturn and regulatory changes to achieve harmonisation with EU requirements ahead of the country’s entry into the Union.
Residential revenues were down 4% to HRK3.992 billion. However, non-voice revenues grew by 2.9%, slowing down the overall decrease, with TV, mobile broadband and – especially ICT revenue – contributing to growth.
“In order to reverse the declining trend in T-HT’s results aand to ensure long-term value for shareholders, we plan to embark on significant investment in the development of the group,” said Davor Tomašković, president of the T-Hrvatski Telekom management board.
“We will intensify investment in infrastructure development and increased service quality while also identifying and exploiting regional business expansion opportunities. In order to strengthen our presence in the region, as well as potential acquisition opportunities we will also consider expanding our products and services in south-east European markets.”
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08 May 2021 @ 14:30:00 UTC