HT Reports Growth in 3Q24

Hrvatski Telekom delivered strong results in the first nine months of 2024, as well as in the third quarter. The operator recorded revenue growth, driven by robust performance in mobile, fixed services, and system solutions.

Revenue in 3Q24 was €291.7 million, a 4.5% YoY growth. Adjusted EBITDA AL grew 5% to €118.6 million, as net profit jumped 15.5% YoY to €49.7 million. In the first nine months, HT's revenue rose 5.5% while net profit surged 10.8%.

The first three quarters of the year brought investment acceleration to €161.0 million, reflecting a 14% YoY increase. During the period, HT continued to expand the largest FTTH network in the country, increasing coverage by an additional 23%. This brings HT a step closer to its goal of covering over 1.1 million households with gigabit fiber speeds.

In May 2024, HT paid a dividend of €1.53 per share, marking the highest dividend payout in over a decade. This represents a payout ratio of 95.3% of the realized profit and a 39.1% increase compared to the previous year. As part of its Share Buyback Program, HT acquired an additional 177,315 shares on the Zagreb Stock Exchange. The company invested €5.3 million in these buybacks.

HT said that, although the environment remains challenging, their outlook remains unchanged. The operator expects a mid-single-digit growth in revenue and EBITDA AL and a high-single-digit increase in CAPEX AL compared to 2023. The regional expansion outlook remains the same as HT continues to monitor and evaluate potential M&A activities.

“In the first nine months of 2024, Hrvatski Telekom has maintained its growth momentum by delivering strong commercial and financial results. Our growth across both residential and business segments is reflected in increased revenue, EBITDA AL, and net profit, and this despite challenging labor market conditions and ongoing pressures from rising costs and inflation,“ said Nataša Rapaić, CEO of Hrvatski Telekom.