Business News

Telekom Slovenije Group Reports Higher Net Profit in H1

Ljubljana, 30 August (STA) - The group around Slovenia's telecoms incumbent Telekom Slovenije generated EUR 391.1m in operating revenues in the first half of 2012, down 3% compared to the same period last year. Net profit increased by 5% to EUR 26.5m, the company said on the website of the Ljubljana Stock Exchange.

Operating profit was also up, by 3% to EUR 41.3m, while earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at EUR 132.2m, down 4% compared to the first half of last year.

Net financial debt was down 27% over the last 12 months, at EUR 325.8m. "This means that Telekom Slovenije is one of the least indebted operators in Europe," the company said in the report.

"Given the results at the end of the first half of the year, Telekom Slovenije estimates that net profit will amount to around EUR 38m at the end of 2012, which is lower than planned, but higher than the net profit recorded in 2011," Telekom Slovenije said.

The half-yearly business report was discussed and approved by Telekom Slovenije's supervisory board on Tuesday.

"The Telekom Slovenije Group's operations in the first half of the year were characterised by certain trends that affected the majority of leading operators in Europe," the company said.

Revenues generated by the primary services of fixed and mobile telephony are gradually declining due to the adverse macroeconomic situation, slowing growth in broadband connections and regulatory requirements in the context of an intensifying price war, especially in the segment of mobile telephony, the telco said in the report.

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