Ljubljana, 07 November (STA) - The Telekom Slovenije group posted a net profit of EUR 29.4 million in the first nine months, a 25% increase year-on-year despite a 6% drop in net sales revenue and total operating revenue.
The telco group generated EUR 507.4 million in net sales revenue in the first nine months, while total operating revenue reached EUR 511.4 million. Both figures are 6% lower than in the same period last year, shows an unaudited report published on the web site of the Ljubljana Stock Exchange.
The company said sales revenue was down due to the sale of Blicnet, which was completed in the second half of 2018. Excluding the operations of Blicnet, net sales revenue was down 4% on the same period in 2018.
Group profit before income tax, depreciation and amortisation (EBITDA) rose 9% to EUR 166.2 million and pre-tax profit (EBIT) was up 29% to EUR 35.9 million.
The group allocated EUR 116.1 million for investment in the January-September period.
The net sales revenue of the core company was down 6% to EUR 453.4 million, and operating revenue dropped by 6% as well to EUR 455.5 million.
Net profit rose 31% to EUR 29.6 million and operating profit was up by as much to top EUR 31.7 million.
The supervisory board got acquainted with the results on Wednesday.