Business news

Telekom Slovenije's net profit down 24% to EUR 14.8m in H1

Ljubljana, 30 July (STA) - The group around the telecoms incumbent Telekom Slovenije generated EUR 335.4 million in total operating revenue in the first half of the year, which is 2% less year-on-year, while net profit was down 24% to EUR 14.8 million, Telekom Slovenije announced in a press release on Thursday.

"The Telekom Slovenije group revenue in the first half of the year was affected by the Covid-19 pandemic, with revenue in the mobile segment decreasing due to lower revenue from roaming," the release says.

Wholesale revenue was down in the first half due to lower revenue from international voice traffic and foreign users roaming in Telekom Slovenije's network, and the situation also effected the sale of other services and products.

"Revenue from traditional phone services was also down, while e-commerce revenue increased by 70% year-on-year, and revenue in the energy segment was also higher compared to the same period last year."

Telekom Slovenije Group's earnings before interest and taxes (EBIT) stood at EUR 20.7 million, but adjusted for the effects of the agreement on the sale of Planet TV, EBIT would amount to EUR 27.3 million, or 15% or EUR 3.5 million more than in the first half of 2019.

The group's earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 104.3 million, and adjusted for the effects of the Planet TV sale, EBITDA would amount to EUR 111 million, or 1% less year-on-year.