Croatia's public broadcaster HRT had a total revenue of 1.38 billion kuna (€186.2 million) in 2017, with a a 100 million kuna (€13.5 million) profit after taxes, HRT said in a report released on Wednesday.

HRT said the profit earned in 2017 would be used solely to service debts due to losses incurred over several previous years, which totalled 550 million kuna (€74.2 million) at the end of 2017, or equivalent to 68 percent of its share capital.

The company said it plans to reduce its overall debt to below 50 percent of its share capital, including continued efforts to reduce its debt to banks. In 2017 HRT reduced its debts to banks by 78 million kuna compared to 2016, and its debts to suppliers by 56 million kuna.

HRT operates four terrestrial television channels and a series of radio stations, and is financed primarily through compulsory licenses paid by households and companies owning TV sets or radios, which totals around 1.2 billion kuna per year. In 2016 it had some 2,800 employees.

(€1 = 7.41 kuna)

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