Telekom Slovenije posts 1% drop in revenues, declares war on costs

Slovenian and south east European communications group Telekom Slovenije has posted a 6% year-on-year increase in consolidated net profit to EUR15.4 million (USD19.1 million) in the first quarter of 2012, as it fought to bring costs down and diversify in the face of declining core telecoms revenues. The group’s operating turnover reached EUR193.8 million in January-March 2012, down by 1% year-on-year, while operating profit amounted to EUR22.7 million, also down by 1% on the first quarter of 2011. EBITDA fell by 5% to EUR68.7 million in Q1 2012 while quarterly CAPEX investment was raised by 18% y-o-y to EUR14.5 million.

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OVETEL Telekom Slovenije posts 1% drop in revenues, declares war on costs