Business News

Telco T-2 Ups H1 Operating Profit by Third to EUR 6.7M

Ljubljana, 16 August (STA) - Telecommunications service provider T-2 made EUR 6.7m in earnings before interest, depreciation and amortization (EBITDA) in the first six months of 2012, up 32% compared to the same period last year.

T-2's revenues stood at 24.5m, which is in line with the plans, the company said in a press release on Thursday.

On the yearly level, the number of T-2 subscribers increased by 3.1% to over 142,000, while the highest increase was recorded in the mobile telephony division (7.6%).

The heavily indebted company launched a court-mandated debt restructuring in February after the court rejected the demand for receivership by rival Telekom Slovenije.

T-2 also saw a change in ownership as its previous owner, the Church-owned holding Zvon Ena Holding, was disowned through conversion of claims.

The telco is now in majority ownership of telecommunications infrastructure company Gratel.

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