Hrvatski Telekom holds its own

14.00 Europe/London, October 28, 2011 By Chris Dziadul

The Croatian incumbent telco Hrvatski Telekom (T-HT) ended the third quarter with a total of 337,000 subscribers to its TV services, or 21.5% more than in the same period last year.
All but 19,000 were residential customers, and the overwhelming majority opted for IPTV rather than DTH or cable reception of its TV offer.
However, revenues for the first nine months of the year were, at HRK6,092 million (Ä822 million), 3.6% down on a year earlier and EBITDA fell 2.1% year-on-year to HRK2,799 million.
Its net profit was almost flat at HRK1,483 million. T-HTís business continues to be impacted on by recession, regulatory initiatives and a special tax.