Telekom Slovenije planning EUR 30.8 million in profit in 2021

Ljubljana – The Telekom Slovenije group plans to generate EUR 653 million in operating income and EUR 30.8 million in net earnings, the company announced on the website of the Ljubljana Stock Exchange on Wednesday. The group’s supervisory board has endorsed the business plan.

Telekom Slovenije supervisors discussed and cleared today the group’s strategic business plan for the 2021-2025 period, including the business plan for 2021.

The strategic business plan is based on the group’s strategy “that puts digitalisation across all levels of operation at the forefront”, the company said.

The telecoms incumbent would like to see EUR 210.6 million in EBITDA in 2021 and EUR 203.7 million in next year’s investments.

The group expects this year’s results to be below expectations. In early November they estimated net sales income would be lower than projections by some 3% at EUR 609.3 million.

The figure excludes the media arm Planet TV, which has already been sold to TV2 Media in Hungary, and the Kosovo subsidiary Ipko, which was supposed to be sold by now but has not been after the sales procedure was terminated.

This year’s EBITDA is expected to stand at EUR 178.5 million, down by some 4% compared to the 2020 business plan. Net profit is estimated at EUR 24.6 million.

Releasing the future business plan, the group highlighted it operated “on markets characterised by a high level of competitiveness”.

Slovenia’s telecom services market is saturated and income stemming from basic services is expected to continue to decline.

Telekom Slovenije retains a high market share across all segments of its operations, however other operators are chipping away at the market share using pricing strategies.

The majority state-owned telecoms incumbent believes that it provides “the latest services tailored to the needs of users”.

To further adjust to those needs the company plans to invest in expanding and upgrading technologies, further digitalisation and optimisations efforts and empowerment of its employees.

The post Telekom Slovenije planning EUR 30.8 million in profit in 2021 appeared first on Slovenia Times.