Last week, Telekom Slovenije published a report on the Ljubljana Stock Exchange regarding its 2026 business plan, as well as its projections for the period up to 2030. In this quick overview, we bring you all the main points.
Telekom Slovenije held its 34th Supervisory Board meeting on 1 October 2025, during which the Company’s 2026 annual business plan and projection until 2030 were reviewed and approved. After the meeting, a release was made on the LJSE commenting on these plans.
The Group estimates that in 2025, it will exceed its originally planned revenue and EBITDA targets, with sales estimated at EUR 731m, EBITDA estimated at EUR 250m, with a net income of EUR 57m.
Telekom Slovenije key financials comparison* (Old 2025 plan, new 2025 plan, 2026 Annual Business Plan, EURm)
Source: Telekom Slovenije, InterCapital Research
*No new numbers for investments were disclosed in the new 2025 plan, and as such, the value from the previous plan is used for comparison.
Furthermore, in the Strategic Business plan for the 2024-2028 period, approved 2 years ago in November 2023, the Group has set ambitious goals for continued growth in the telecom revenues and an increase in market share, with a special focus on better utilization of existing infrastructure. The Group planned most of the growth in the ICT and digital services segment. They also planned to improve business efficiency through continued digitalization of operations, cost reduction, and greater investment efficiency.
In the 2026 Annual Business Plan, the Group forecasts growth in revenue, EBITDA, and net income. In their projections, they estimate revenue of EUR 737.3m (+1% compared to the new 2025 plan), an EBITDA of EUR 255.5m (+2.2% vs. the new 2025 plan), and a net income of EUR 59.9m (+5% vs. the new 2025 plan). Furthermore, the Group plans on investing EUR 217.2m in 2026. In addition to investments in the network, planned investments also include program rights and the capitalization of leases in accordance with IFRS 16. Telekom Slovenije operates the largest fixed and mobile service network, with the Group’s fibre optics network already available to more than 498k Slovenian households.
The Group further noted that, by constantly upgrading and modernizing the entire network with new, cutting-edge technologies, they are laying the foundation for further development, strengthening their competitive advantage, and creating the technological groundwork for the continued provision of safe, reliable, and modern telecom services in line with the latest trends and user expectations. Due to these developments, the Group already covers 99% of the population in Slovenia in the 4G sphere, while the 5G coverage has already exceeded 92% of the population, with the goal of achieving 99% coverage by the end of the year.
Lastly, the Group also commented on the dividend policy. Accordingly, the plan on allocate 30-50% of the net income for dividends, taking into account the financial position and the volume of investments.
Telekom Slovenije, SBITOP price performance (2022 – 2025 YTD, %)
Source: Bloomberg, InterCapital Research