Telekom Slovenije (TLSG) Q2 2024 earnings summary

Executive summary

• Operating revenues for January–June 2024 reached EUR 350.1 million, up 4% year-over-year, driven by growth in user numbers and higher IT and wholesale revenues.

• Net profit rose 25% to EUR 29.6 million, with EBIT up 7% and EBITDA up 4% compared to the same period last year.

• Retail mobile users increased by 4% (73,020 more), and fixed broadband connections grew by 2% year-over-year.

• The Group maintained a strong market position in Slovenia, with leading shares in fixed broadband, IPTV, and mobile telephony.

Financial highlights

• Sales revenue: EUR 346.6 million (+4% year-over-year).

• EBITDA: EUR 121.4 million (+4%), with a 35% EBITDA margin.

• EBIT: EUR 38.7 million (+7%).

• Net profit: EUR 29.6 million (+25%).

• Net financial debt: EUR 386.4 million (up from EUR 355.7 million at year-end 2023).

• Equity ratio: 49.1%.

• Investments: EUR 79.7 million (96% of prior year period).

Outlook and guidance

• 2024 objectives: Operating revenues EUR 717.4 million, EBITDA EUR 233.6 million, net profit EUR 43.2 million, investments EUR 235.7 million.

• Focus on growth in ICT and digital services, operational efficiency, and sustainability.