Hrvatski Telekom (HT) generated a net profit of HRK 546 million in the first nine months of 2020, which is 19.1% less than in the same period of 2019, while revenues fell by nearly 4%, the company's consolidated financial statement shows.

Net profit after minority interests dropped by 17.5% to HRK 559 million.

The situation caused by the Covid-19 pandemic affected business developments across the economy and HT inevitably experienced its effects as well, the company said in a press release on Thursday.

As a result, consolidated net revenues declined by HRK 221 million or 3.9% to HRK 5.5 billion due to a 6.7% drop in revenues from mobile telecommunications and a 5.5% fall in revenues from fixed telecommunications. The decline was partly offset by a 18.3% rise in revenues from system solutions.

EBITDA after loans decreased by HRK 178 million or 8% to HRK 2.06 billion.Total capital investments amounted to HRK 1.23 billion, up by 13.3% from the same time last year.

(€1 = HRK 7.57)