Speaking in a presentation about its annual results and quoted by Capital, its DG Pedrag Culibrk added that its strategy in recent years has been to increase the user base, primarily the internet and multimedia.
This has been through a combination of organic growth and acquisitions in Serbia and BiH.
Culibrk also said that Telekom Srbija had a record number of 10.4 million users in 2019, or 6% more than a year earlier.
Its revenues meanwhile grew by a 7% to reach a record RSD133.7 billion (€1.13 billion) and the operating profit rose by 25% to RDS48.4 billion.
Telekom Srbija’s TV customer total increased by almost 50% to 1.15 million and internet customers by 21% to 1.25 million.
The number of satellite TV subscribers increased by 90,000 in 2019.