Hrvatski Telekom (T-HT) saw its pay-TV subscriber total fall in the first half of 2015.
However, as the company points out, its leading market position remained intact thanks to the IPTV service MAXtv, which had the highest share of the IPTV market in H1.
Overall, the pay-TV market in Croatia grew by 4.7% in H1 to reach 746,956 customers as of the end of June.
T-HT ended H1 with a total of 387,000 TV customers, down 1.7% on the same period in 2014. Of these 322,000 (-4.5%) opted for IPTV, 6,000 (-0.1%) for cable and 59% (+16.5%) for satellite TV.
T-HT’s revenue in H1 amounted to HRK3,305 million – €435.1 million (+0.5%) and EBITDA after exceptional items HRK1,226 million (+3%), while its net profit was HRK406 million (+1.2%).
Commenting on its results, Davor Tomaskovic, president of the management board, said: “Despite a decline in the overall telecommunications market, the first half of the year was characterized by the stabilization of all Hrvatski Telekom’s key financial indicators, which reversed the downward trends seen in previous years.
“This year, we have significantly increased our investment, which we are primarily directing towards the development of a high speed internet infrastructure. HT is the technology leader on the Croatian market, and this enables us to provide market-leading customer experience and the highest-quality, fastest services”.