Hrvatski Telekom (HT) Q3 2024 earnings summary

Executive summary

• Achieved strong commercial and financial results in 9M 2024, with revenue, EBITDA AL, and net profit all increasing year-over-year despite inflation and labor market challenges.

• Maintained best and fastest mobile network status for the sixth consecutive year and expanded FTTH coverage by over 100,000 households.

• Focused on customer experience, innovation, and digitalization, supported by dedicated employees.

Financial highlights

• Revenue increased by 5.5% year-over-year to EUR 813.3m; net profit after non-controlling interest rose 10.8% to EUR 106.7m.

• Adjusted EBITDA AL grew by 5.0% to EUR 312.0m; EBIT up 13.1% to EUR 136.4m.

• Operating cash flow increased by 8.9% to EUR 299.8m; cash and cash equivalents at period end EUR 209.6m.

• CAPEX AL (excluding spectrum) up 14.0% to EUR 161.0m, with a CAPEX/Revenue ratio of 19.8%.

Outlook and guidance

• 2024 revenue and adjusted EBITDA AL outlook upgraded to mid-single-digit growth; CAPEX AL guidance raised to high-single-digit increase.

• Actively monitoring and evaluating regional M&A opportunities.