Montenegrin Telekom successfully completed last year with positive financial parameters and significant profit growth, announced the telecommunications company.
“The growth in business results, with higher revenues and increased profitability, growth in the number of users of all types of services, and a superior position in the capacity and coverage of the 5G and 4G mobile networks segment, are key determinants of the successfully concluded last year,” the statement said.
The largest growth for Telekom is recorded in the postpaid and prepaid segments, with a stable position as the market leader in postpaid and mobile internet.
According to measurements and data from the Agency for Electronic Communications and Postal Services (EKIP), Montenegrin Telekom now has the largest and fastest 4G and 5G network. Last year also saw an 11% increase in fiber optic users.
“The financial aspect of Telekom’s business during the past year is characterized by positive trends, with the most significant leap in net profit of 6.6 million, resulting in exceptional growth compared to the previous year,” said the company.
Better results in retail services predominantly drove a 6.1% increase in revenue compared to the previous year. Operating profit before interest, taxes, and depreciation (EBITDA), after leasing and excluding special influences, amounted to 30.1 million, 6.6% higher than last year.
The last quarter of last year, as stated by the company, was marked by the project to shut down the 3G network, creating technological prerequisites for creating an even faster and superior mobile network and achieving a revolutionary technological breakthrough to ensure that the Telekom network reaches world-class standards.
The Executive Director of Montenegrin Telekom, Stjepan Udovičić, said that the shutdown of 3G technology is a trend present in the most technologically advanced countries globally and is actually an excellent indicator of the level of development, reliability, and superiority of the 4G and 5G Telekom networks in Montenegro.
“With more than 200 locations in the country, over 83% coverage of the population with 5G signals, and the highest speed in the mobile network, Telekom’s leadership position is recognized by our users. The frequency resources we possess, including the spectrum we are freeing up by shutting down obsolete 3G technology, ensures the leading position of our 5G and 4G networks in the coming years. Furthermore, to provide the necessary capacities for the increase in the number of users and total internet traffic in the mobile and fixed network, we have begun intensive modernization and expansion of our IP and Transport network, which will enable a superior user experience for all our services,” Udovičić said.
For years, Telekom has been the company with a stable leading position in the number of users in postpaid and mobile internet, with particularly excellent results during the summer season and in the prepaid segment.
The growth in the number of users is evident in almost all segments.
The number of mobile internet users is 249,000, three percent higher compared to the same period. In addition, there are 308,000 active postpaid cards, eight percent more than last year, while the number of active prepaid cards amounted to 170,000, representing a four percent increase.
The continuous development of the optical infrastructure in the past year resulted in the availability of optical networks for 8,300 new homes, achieving a total coverage of 133,000 homes, while the number of connections increased by 11% to 37,000.
The total number of broadband connections was 83,000, while the TV user base was 88,000.
“The introduction of the new TV platform – Magenta TV, is a turning point, after which the past year can be characterized as a successful one. In addition to the superior position in the 4G and 5G segments, we have launched a TV platform that confirms our position as a competitive player in the market, a player that imposes positive trends, quality, and innovation, as the basis for constructive competition in the market. Magenta TV is a potential for the period ahead – technology delivered from the ‘cloud’ (Cloud TV), which means that new functionalities launched at the Deutsche Telekom group level are available in Montenegro at the same time as in other EU countries where Deutsche Telekom operates,” said Udovičić.
By launching Magenta TV, Montenegrin Telekom has implemented the fastest and best implementation in the DT group, which, as Udovičić states, leads to a valuable interpretation of the results.
“According to the recently published study – Brand Finance Global 500, Deutsche Telekom is one of the most valuable telecommunications brands globally, and Montenegrin Telekom through corporate processes, cooperation with the community, and relations with competitors transfers that value structure to the local level. Therefore, Telekom’s role in the market exceeds quantitative metrics; we add more value to the result, push the limits, maintain active market dynamics, and deliver innovative solutions that follow the most modern global telecommunication trends to the domestic market,” Udovičić added.
The migration of users to the new TV platform achieved during the past year significantly exceeded projected targets. Also, user experience measurements show excellent trends, as users give a 4X better rating for the Magenta TV service compared to the old platform.
The new TV platform – MagentaTV, will replace ExtraTV and brings numerous novelties to users, including the ability to watch programs up to 14 days back, content recommendation according to user interests and habits, better picture and sound quality, and watching television on every screen (mobile phone, tablet, laptop, TV).
In addition, the Magenta TV box turns every TV into the latest generation smart TV.
