In the 9M of 2021, Optima recorded a slight decrease in sales of 0.4%, EBITDA before one-time items after leases was up 1% and net profit of HRK 450k.
In the first 9m of 2021, Optima Telekom recorded a slight decrease in sales of 0.4%, amounting to HRK 333.6m. Revenues from public voice service in the 9M of 2021 were lower by 8.0% YoY due to the general trend at the global level. Internet revenues recorded a decline of 6.5% YoY due to a smaller customer base and increased demand for the Internet via mobile networks. Meanwhile, revenues from data services decreased by 6.5% YoY mostly due to the termination of contracts with one major user of data services. At the same time, Interconnection revenues increased by 68.2% primarily due to the growth of revenues from voice transit services.
Operating expenses remained flat in the 9M period, amounting to HRK 320.6m. As a result, consolidated EBITDA before one-time items after leases amounts to HRK 91.7m (+1% YoY). The company notes that realized EBITDA is a reflection of the positive effects of the application of IFRS 16 due to seasonal trends. This puts EBITDA margin at 27.3%, indicating an increase of 0.4 p.p. YoY.
At the same time, operating profit amounted to HRK 15.8m, showing a decrease of 9.9% YoY. Such a result can be attributed also to a somewhat higher depreciation in 2021.
Going further down the P&L, the company noted a net financial loss of HRK 15.2m (compared to HRK -19.9m in 9m 2021). The relatively better financial result led to the company reporting a profit of HRK 450k (compared to HRK -3.1m).