T-Hrvatski Telekom grows TV base, reports earnings drop

Croatian telco T-Hrvatski Telekom reported a 9.7% year-on-year increase in TV customers in Q3, though cited the continued economic downturn and EU regulation for wider drop in revenues and profits. 

Announcing its third quarter earnings, the Deutsche Telekom-owned company reported 361,748 residential TV customers, up 9.9% compared to last year and 2.4% on the previous quarter. In its business segment it reported 21,566 TV customers, up 7.9% year-on-year and 2.4% quarter-over-quarter.

With a total TV customer base of 383,314 at the end of September, T-Hrvatski said this representing 60.8 % of its total fixed broadband customer base, which consisted of 630,898 customers.

The firm said that the overall Croatian pay TV market grew by 11.2% year-on-year in Q2, though said that further consolidation in the pay TV market had heightened competitive pressure.

In total, T-Hrvatski reported revenue of HRK5.206 billion (€689 million), down 8% year-on-year, with net profit falling 30.6% to HRK964 million (€128 million). EBITDA was down 19.5% to HRK2.148 billion (€284 million).