February 15 (SeeNews) - Croatia's biggest telecommunications operator, Hrvatski Telekom [ZSE:HT-R-A], said on Friday its consolidated net profit jumped 23% to 1.06 billion kuna ($161.4 million/143.1 million euro) in 2018.
The telco's management has proposed a dividend payment in the amount of 10 kuna per share, Hrvatki Telekom said in a bourse filing. It added that 7 kuna per share will be paid out of the 2018 profit and 3 kuna per share will come from retained earnings from previous periods.
Total consolidated revenues edged up 0.4% to 7.78 billion kuna in 2018, it added.
Hrvatski Telekom maintained its leading position in all segments of the telecommunications market, the company noted. The main contributors to revenue growth of the company were system solutions revenue and mobile communications growth.
In 2018, Hrvatski Telekom invested 1.826 billion kuna in infrastructure and development of innovative services. Investment in the fixed network resulted in fibre optic access for 400 thousand households.
In early 2018, Hrvatski Telekom started modernising the radio access network across the country. This network will enable the introduction of 5G technology as soon as the required radio frequency spectrum is allocated to it, the company said, adding that completion of this project is planned for the end of 2019.
Hrvatski Telekom is 51%-owned by Deutsche Telekom.
(1 euro = 7.40913 kuna)