Telekom Slovenije, the national telecoms incumbent, saw its net profit rise by 17% to €55 million in 2024, as revenue inched 2% higher to €720 million, according to unaudited results released by the company.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached €240 million, a 5% increase on the year before, and pre-tax profit (EBIT) rose 14% to just shy of €73 million.

The company says it exceeded targets across all key segments and markets.

The group had a total of 1.99 million mobile retail users, 4% more than at the end of 2023, and 316,176 fixed retail broadband and TV connections, likewise a 4% increase.

In Slovenia, it remains the market leader with a 35.8% share in the mobile services segment, and it increased its market shares in the fixed internet access (34%).

In Kosovo, its subsidiary IPKO is the market leader with a 53% share in the mobile segment and a 28% share in the fixed segment.

The group raised capital expenditure by 16% to €219 million, as a result of which its fibre optic network is available to half a million Slovenian households and its 5G mobile network coverage expanded by a third to 80% of the population.

For this year, Telekom expects revenue to rise marginally, to €726 million, with net profit projected to be slightly lower, at €54 million.