Hrvatski Telekom (HT) Q4 2024 earnings summary

Executive summary

• Achieved 6.0% revenue growth to EUR 1,101.6m and 7.5% net profit growth, maintaining market leadership in mobile and fiber networks.

• Expanded FTTH network by 150,000 households, the largest annual fiber rollout and a 20% YoY increase.

• Recognized as #1 mobile network and telco brand, with multiple industry awards and enhanced content via Netflix partnership.

• Completed merger of Iskon Internet and launched HT Servisi to streamline network operations.

• Advanced ESG agenda, sourcing 100% renewable electricity and winning multiple sustainability awards.

Financial highlights

• Revenue increased by 6.0% YoY to EUR 1,101.6m; adjusted EBITDA AL grew 4.7% to EUR 416.2m.

• Net profit after non-controlling interest rose 7.5% to EUR 141.9m; EBIT up 11.3% to EUR 179.6m.

• CAPEX AL increased 9.9% to EUR 242.9m, with a CAPEX/Revenue ratio of 22.1%.

• Operating cash flow increased by 11.2% to EUR 401.0m; cash and cash equivalents at year-end EUR 229.7m.

• EUR 147.6m returned to shareholders, including a EUR 119.2m dividend and EUR 28.4m in share buybacks; TSR at 52.9%.

Outlook and guidance

• 2025 guidance targets low-single-digit increases in revenue, adjusted EBITDA AL, and CAPEX AL, with continued high investment in fiber and digitalization.

• Ongoing evaluation of regional M&A opportunities.