Optima Telekom Q1 2021 Results

In Q1 2021, the company reported a decrease in sales of 3.5% and a net loss of HRK 4.6m

In Q1 of 2021, Optima Telekom recorded a decrease in consolidated revenues of 3.5% YoY to HRK 108.4m.  The company notes that due to the general trend at the global level, revenues from the public voice service in Q1 2021 decreased by 6.1% YoY, while Internet revenues in Q1 decreased by 6.8% YoY due to a smaller user base and increased demand for the Internet via mobile networks. Revenues from data services in Q1 dropped by 7.8% YoY, mostly due to the termination of contracts with one major user of data services. Such a decrease was partially offset by revenues from interconnection, which increased by 21.3% YoY due to the growth of revenues from voice transit services. Furthermore, revenues from multimedia increased by 2.2% YoY under the influence of the continuous focus of the Company’s operations.

Operating expenses reached HRK 107.4m, representing a slight increase of 0.6% YoY (or HRK 613.7k). As a result of the above-mentioned, consolidated EBITDA before one-time items after leases amounts to HRK 26.1m and is HRK 3.2m lower compared to the same period last year. The achieved reduced EBITDA is primarily a reflection of the negative impacts of the application of IFRS 15 and lower own work capitalization. EBITDA margin after leases stood at 24%, which is a decrease of 2 p.p.

Going further down the P&L, operating profit stood at HRK 1.05m, representing a sharp decrease of 81%, which could be attributed both to lower revenues generated and somewhat higher operating expenses.

In Q1 2021, the company reported a net loss of HRK -4.57m, compared to HRK -4m (Q1 2020). The loss came on the back of a negative net financial result of HRK -6m, which can mostly be attributed to a FX loss of HRK -5.4m.

Category : Flash News

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