Tough times continue at Hrvatski Telekom

The Croatian incumbent Hrvatski Telekom (T-HT) ended the first quarter with a total of 390,000 TV subscribers, or 0.6% fewer than in the same period last year.

Its residential TV subscriber total amounted to 367,000, a 0.9% reduction on a year earlier.

IPTV accounts for the overwhelming majority of T-HT residential TV customer base and it saw the sharpest year-on-year fall, down by 3.6% to 306,000.

However, cable was stable (6,000, +0.2%), while DTH grew (57,000, +18.5%), over the same period. Overall TV ARPU grew slightly to HRK80 (€10.55), up by 0.4%, though was both higher, and increased more, on the business side.

T-HT’s revenues in Q1 amounted to HRK1.619 billion, up 0.7% on the same period last year. EBITDA was, at HRK622 million, down 1.2% year-on-year, while net profit, at HRK151 million, down by 24%.

Commenting on the results, Davor Tomaskovicc, president of the management board of T-HT, said: “At Hrvatski Telekom, the beginning of the year was marked by stable financial results, the continuation of Company transformation initiatives and the start of our investment cycle. We increased investments by 34.5% and set infrastructure development and fast internet as our primary focus. We are reinforcing our position as the technology leader, thus forming the basis for offering the best customer experience and the best quality and the fastest services on the Croatian market.”