HT records positive business trends in the first half of 2022 | ICT Business | TechBuzz

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Hrvatski Telekom, the strongest domestic telecom operator, recorded growth in all key business indicators in the first six months of 2022. In the first half of 2022, organic revenues grew by 0.5 percent to HRK 3.5 billion, thanks to the strong development of the mobile telecommunications business.

In the first six months, organic profit before interest, taxation, amortization and depreciation (EBITDA) after leases grew by 3.2 percent to HRK 1.3 billion, which is the result of good business momentum and the positive effect of the transformation of the operational business model. Where growth is slowing as rising inflation and energy prices impacted our operating costs in the second quarter.

In the first half of the year, a strong increase in organic net profit by 80.3 percent to HRK 301 million was recorded. In addition to EBITDA growth, depreciation also contributed positively to this, which returned to its usual level after the peak recorded in the first half of 2021. Organic investments It is very significant for HT that the EBITDA margin increased to HRK 773 million and was higher by 12.7 percent compared to the same period last year.

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It is very significant for HT that the adjusted EBITDA margin increased by 0.8 percentage points to 37.7 percent, the EBITDA margin increased by 1.1 percentage points to 36.6 percent, while the EBIT margin (earnings before interest and taxes) increased 5.5 percent to 12.2 percent.

Organic investments increased by 6.5 percent to HRK 735 million in the first half of 2022. At the same time, the share of investment in relation to income increased by 2.1 percentage points to 22.2 percent. In the second quarter, capital investments increased by 12.6 percent to HRK 417 million.

Hrvatski Telekom strengthened its status as the leading network in Croatia by winning the “Best in Test” awards for the best and fastest mobile and fixed broadband network, they claim in this telecom and add that the awards are the result of constant improvement of the personal experiences of users of mobile and fixed broadband telecommunications and reflect a record high user satisfaction.

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Accordingly, HT remains focused on the construction of optical infrastructure throughout the whole of Croatia, with which, as they claim, they have increased the already largest FTTH coverage in Croatia by a significant 28 percent compared to the same period last year. They additionally increased the coverage of the 5G network to almost 100 cities and municipalities, which means that more than 2 million inhabitants are covered by the 5G network, which has been available to our private users of postpaid and prepaid services since June.

As a reminder, in July 2022, HT announced that Daniel Daub, member of the Management Board of HT dd and chief financial officer, is leaving the company on August 1, 2022, and will assume the position of Senior Vice President for Finance at Deutsche Telekom Europe.

Matija Kovačević was appointed a member of the Management Board and chief financial officer of HT dd, as of August 1, 2022. Prior to his appointment to the Management Board, he held the position of Director of the Controlling, Transformation and Investor Relations Department.

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“We continued to implement the sustainable development plan throughout our ecosystem, achieving ambitious ESG goals. The fact that we are recognized as one of the climate leaders in Europe is a confirmation of our positive action. In a major survey by the Financial Times and Statista, which analyzed the success of the company’s ESG agendas and activities in the field of environmental protection, social engagement and management, Hrvatski Telekom was recognized among 4,000 companies from 33 European countries, because in the analyzed period it reduced total greenhouse gas emissions by 68 .5 percent, which is the third best achievement in the entire European telecommunications industry”, they point out from HT.

At the beginning of the second half of the year, HT expects a worsening of the macroeconomic environment with record high inflationary pressures and energy prices, which will further adversely affect the disposable income of users, our industry and the Croatian economy. Taking into account the new challenges, we have adjusted our outlook for the end of the year, HT explains.

“We concluded the first six months of 2022 with good business results, which are reflected in stable revenues, higher EBITDA and net profit, thereby further strengthening the status of the leading mobile and fixed network, while user satisfaction reached a new historical record. The aforementioned achievements are a continuation of our positive momentum despite the challenges of unprecedentedly high energy prices and one of the highest inflation rates in the history of Croatia, whereby it is to be expected that the effects of inflation on our profitability will become even more visible in the second half of the year. These are challenges that require everyone to adapt to an unpredictable and unstable macroeconomic environment. At the same time, we remain committed to realizing our investment plans and supporting the country’s priorities. Our investments in increasing the optical and 5G network will play a key role in economic and social development, and they represent a platform for future progress”, emphasizes Kostas Nebis, President of the Management Board of Hrvatski Telekom.

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