Hrvatski Telekom (HT) Q4 2025 earnings summary

Executive summary

• Achieved sustained growth across all business segments, maintaining market leadership in customer experience and network quality.

• FTTH coverage expanded to 1 million households, and mobile network leadership reaffirmed for the third consecutive year.

• Returned EUR 160 million to shareholders, the highest capital allocation since 2013, through dividends and share buybacks.

• Recognized for innovation with projects like the Rijeka Gateway 5G campus and NextGen 5G Airports, and awarded for sustainability and governance.

• Continued transformation with AI integration and launched a national AI education program to boost digital inclusion.

Financial highlights

• Revenue increased by 3.6% year-over-year to EUR 1,141.7 million, reflecting sustained commercial momentum.

• Adjusted EBITDA AL rose 3.3% year-over-year to EUR 429.8 million, with margin at 37.6%.

• Net profit reached EUR 143 million, up 0.8% year-over-year.

• Market-leading investments (CAPEX AL) totaled EUR 268.4 million, up 10.5% year-over-year, with a CAPEX/Revenue ratio of 23.5%.

• Net cash flow from operating activities rose 1.6% to EUR 407.5 million; cash and cash equivalents at year-end were EUR 173.1 million (-24.6% YoY).

Outlook and guidance

• 2026 outlook projects low single-digit increases in revenue and adjusted EBITDA AL, with a low single-digit decrease in CAPEX AL.

• Continued monitoring and evaluation of regional M&A opportunities.