The Croatian incumbent Hrvastki Telekom (T-HT) ended the third quarter with 393,000 TV customers, a 2.6% increase on the same period last year.

IPTV (335,000, -0.9%) accounted for the majority of the total, followed by satellite (53,000, +32.2%) and cable (6,000, +0.1%), while TV ARPU in the period stood at HRK80 (€10.4, +5.2%).

T-HT’s overall revenues in Q3 were HRK1,854 million (+3.8%) and EBITDA after exceptional items HRK744 million (-5.3%). Its net profit was down 20% year-on-year to HRK315 million.

Commenting on the company’s results (for the first nine months of the year), Davor Tomaskovic, president of the management board and CEO, said: “Operating in the face of a worsening economic crisis, which has been exacerbated for the telecommunications industry by the government’s introduction of a new spectrum fee, in the first nine months of the year Hrvatski Telekom managed to maintain its leading position in all segments of the telecommunications market and to improve its key financial indicators.

“Compared to the same period last year, we slowed the pace of revenue decline, and have almost stabilised our revenue performance. In the third quarter of 2014, our activities were primarily focused on the transformation of the company. We will continue to implement transformation initiatives in the forthcoming period in order to create a firm foundation for the future growth of the business in both the domestic and regional markets. Despite the challenging economic situation and regulatory changes, the positive impact of the transformation activities we have undertaken to date has enabled us to maintain our outlook for 2014.”