Business News

Telekom Slovenije Sees Slight Drop in Profit in H1

Ljubljana, 21 August (STA) - Slovenia's leading telecommunications provider, Telekom Slovenije, generated EUR 384.9m in operating revenue in the first six moths of the year, which is down 3% from 2013. Net profit was down 2% year-on-year to slightly below EUR 31m.

The management expects net profit to top EUR 63m at the year's end.

Telekom Slovenije, which is currently up for sale, has recorded growth in the number of TV connections, mobile users as well as fixed broadband connections, CEO Rudolf Skobe noted as he presented the group's unaudited business report in Ljubljana on Thursday.

The supervisory board got acquainted with the report last night.

Telekom allocated EUR 101.1m for investments in the first six months, most of which was spent on expansion and modernisation of the network.

Net financial debt of the Telekom Slovenije group amounted to EUR 437m at half-year, which is 28% more than at the end of 2013.

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