The Croatian incumbent Hrvatski Telekom (HT) saw a reduction in its TV subscriber base in the year to September 30.
It ended the third quarter with a total of 385,000 customers, or 2.1% fewer than the same period last year. IPTV accounts for the overwhelming majority of its TV customers and its total fell by 5.1% to 318,000 over the same period. At the same time, the cable TV subscriber total fell only slightly (-0.4%) to 6,000, while the DTH total rose, by 16.7% to 61,000. Also encouragingly, TVARPU rise by 2.4% over the period to HRK82 (€10.8).
HT notes that the Croatian pay-TV market is both expanding and highly competitive. It grew by 3.2% in Q2 this year to 747,340 customers.
HT had revenues of HRK1,885 million in Q3, or 1.7% more than in the same period last year. EBITDA after exceptional items amounted to HRK766 million (+3%) and net profit HRK324 million (+2.9%).
Commenting on the results for the first nine months of this year, Davor Tomaskovic, president of the management board of HT, said:
“Looking back on a highly successful third quarter, marked by revenue growth and increased profitability, we are exceptionally proud that after six years we have managed to achieve a turnaround in operational results – with all key financial indicators stabilised, and the upward trend seen in the first half of the year reaffirmed. We continue to focus on increasing our investment in infrastructure development, which will enable us to offer innovative products and the best quality and fastest services on the Croatian market. The successful completion of our IP transformation initiative, which positions Hrvatski Telekom alongside Europe’s top telecommunications operators, is a further endorsement of our position of the absolute technology leader in the Croatian market.“
