Hrvatski Telekom 1Q 20 - Drop in handset sales due to Covid-19
The top line came in lower yoy and below our estimates, with declines in both Mobile (-3.5%) and Fixed (-5.7%) revenue categories. The System Solutions segment advanced 26.6% on customized and standard ICT solutions. Mobile revenues decline was mostly due to lower sales of handsets caused by Covid-19, but it was partially cushioned by strong post-paid revenues. Smartphone customers share rose from 67% in 1Q 19 to 70% driving the mobile data ARPU growth, both in prepaid and post-paid. Broadband & TV revenues were up on EvoTV's contribution (consolidation started in March 2019) as well as a higher customer base and higher broadband ARPU. Optima Telekoms contribution was down 18% due to the cancellation of the bilateral telco relationship with Telekom Slovenia. Crnogorski Telekoms revenues went down 4.2% as the growth in post-paid and TV was not able to offset decrease in fixed voice and mobile prepaid.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.