Hrvatski Telekom (HT) investor relations material

Executive summary

• Revenue increased by 1.6% year-over-year in Q1 2026, with net profit rising 12.3% to EUR 29.9 million, reflecting improved operating performance and the absence of exceptional items.

• Adjusted EBITDA AL rose 2.5% year-over-year, driven by top-line expansion and disciplined cost management.

• Continued double-digit FTTH network expansion in Croatia (+16% YoY) and acquisition agreement for PRO-PING d.o.o., a regional broadband provider.

• Over EUR 62 million invested in expanding fiber and 5G networks, supporting digital transformation and economic growth.

• Became the first company in Croatia to receive a certificate for exemplary sustainable business practices.

Financial highlights

• Q1 2026 revenue: EUR 271.9m (+1.6% YoY); Adjusted EBITDA AL: EUR 98.4m (+2.5% YoY); Net profit: EUR 29.9m (+12.3% YoY).

• EBIT improved by 15.0% YoY to EUR 38.9m; EBIT margin up 1.7 p.p. to 14.3%.

• CAPEX AL grew 4.1% YoY to EUR 62.6m, with a CAPEX AL/revenue ratio of 23.0%.

• Proposed dividend of EUR 1.69 per share, up 3.0% year-over-year, with a payout ratio of 92.8% and a dividend yield of 4.2%.

• Net cash flow from operations declined by 26.1% year-over-year to EUR 63.2m, mainly due to working capital dynamics.

Outlook and guidance

• 2026 outlook unchanged: low single-digit increase in revenue and adjusted EBITDA AL, low single-digit decrease in CAPEX AL.

• Continued focus on regional expansion and monitoring M&A opportunities.