April 11 (SeeNews) - State-controlled telecom operator Telekom Srbija has recorded a profit of 13.1 billion dinars ($121.3 million/111.2 million euro) in 2021, backed by a substantial rise in revenue, local media reported on Monday.
"We hope that the results for 2021 will show that we are the most profitable company in the country, because we made a profit of 13.1 billion dinars. The trend shows that we will have increasing profits every year," the Blic daily quoted CEO Vladimir Lucic as saying.
The Serbian company recorded a consolidated net profit of 4.16 billion dinars in 2020, up from 2.47 billion dinars in the previous year, it said in September 2021.
"In just one year, we have increased Telekom Srbija's revenue by more than 130 million euro. As for the number of users in multimedia, last year alone we recorded an increase of 150,000 users," Lucic said.
The company completed the merger of all cable operators it owns under the Supernova brand in 2021, Lucic said. "This happened in June, so the real effects will be even more visible in 2022, when we expect Telekom Srbija to surpass the magic figure of 1 billion euro in revenue, and at the group level even 1.5 billion euro," he noted.
Telekom Srbija will become the first Serbian company to receive an international credit rating and to issue euro-denominated bonds on an European stock market, in Frankfurt, or in Luxembourg, Lucic said.
"We started issuing corporate bonds in 2020 on the Serbian market. All large telecommunications companies have diversified debts partly through bank loans and partly through corporate bonds," he added.
Telekom Srbija provides a range of services to over 11 million users through its units in Serbia, Bosnia and Herzegovina, Montenegro and Austria. In November 2021, the company launched operations in North Macedonia.
(1 euro = 117.790 dinars)
Telekom Srbija AD is among the biggest companies in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here