Business News

Telekom Slovenije Reports 17% Rise in Profit for 2013 (I)

Ljubljana, 27 February (STA) - The telecoms incumbent Telekom Slovenije saw its net profit rise by 17% to EUR 52.3m in 2013, nearly 5% above plans, as revenue increased for the first time since 2009, the company said at its annual earnings presentation on Thursday.

Operating revenue was up by EUR 3.9m (0.5%) to EUR 799m, according to information which was reviewed by the supervisory board on Wednesday and published in an official stock exchange release today.

The slight increase in revenue came in spite of a continued drop in the number of fixed line telephony subscribers and lower revenue from mobile telephony, which was offset by increased sales of new bundled packages and new services.

Operating profit was up 11% year-on-year to EUR 71.5m, while earnings before interest, tax, depreciation and amortisation (EBITDA) edged 1% lower to EUR 237.8m.

The net financial debt of the Telekom Slovenije group amounted to EUR 341.5m at the end of the year, which is 1% less than a year earlier. The group made net investments of EUR 111m.

The telco, which is being privatised under the government's plan to sell 15 state-owned companies, plans to make a profit of EUR 63m this year while investing around EUR 137m.

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