During the first three months of 2024, Telekom recorded an increase in revenue and operating profit compared to the same period of the previous year. Within the user base, the growth is most evident in the postpaid segment, while in the first quarter the stable position of the market leader in terms of the number of mobile Internet users is confirmed. In the extremely competitive telecommunications market, Crnogorski Telekom ended March in the first position when it comes to user satisfaction.
The financial results of Telekom operations in the first quarter of 2024 are characterized by stable trends. Positive trends in retail sales were the dominant reason for the 4,6% increase in revenue compared to the first quarter of the previous year. Operating profit before interest, taxes and depreciation (EBITDA), after lease and excluding special effects, amounted to 7,3 million, which represents a growth of 3%, compared to the same comparative period.
Crnogorski Telekom concluded the first quarter as the market leader when it comes to user satisfaction, which was shown by research carried out by an independent, foreign agency using a methodology relevant at the global level. According to the user's perception, Telekom is in the lead compared to the competition in terms of mobile network quality and mobile internet speed. Users rate the quality of service channels highly, while the new TV platform - MagentaTV significantly increased satisfaction in this segment as well, both due to advanced functionality and content, i.e. new channels available to our users. A special part is Magenta Moments, an innovative benefit and rewards program of Crnogorski Telekom, which records excellent results, in terms of the number of activations, as well as user ratings.
The postpaid base grew by as much as 8% compared to the first quarter of the previous year, which continued the stable growth of the number of postpaid users and confirmed the first position in the extremely competitive market. Telekom is also the market leader in the segment of the number of mobile internet users, with a growth of 3% compared to the same period in 2023.
Continuous investments in infrastructure have resulted in the availability of optical network for 8,2 thousand new homes, which represents an increase of 6%, which has achieved total optical coverage for about 137 thousand homes. The number of users on Telekom's optical network also increased by 12%, compared to the first quarter of the previous year.
March was rounded off by stable trends in the segment of broadband connections (84 thousand users) and TV user base (89 thousand users).
"An overview of the results gives a clear picture of our strategy, which we consistently incorporate into our business - Telekom is a guarantor of service quality and stability, invests in the network and innovations and thus forces the rest of the market to follow the innovative technological challenges we set. When we talk about the most modern requirements of developed, global search engines, we at Telekom have shown that we are ready to follow trends and that we deliver innovative solutions before everyone else in Montenegro. We also have the answer - the satisfaction of our users, as a key indicator of the correctness of what we undertake. We continue to invest - after 2022, when we started with 5G technologies, today we have the largest and fastest 4G and 5G network, we already cover over 80% of the population with a 5G signal and we do not plan to stop. The focus of the investment is also the new TV platform - MagentaTV, accelerated migration process, constant innovation of content, but also new functionalities within the platform, which we have yet to deliver to the market. The processes of modernization of the core network in the voice segment, as well as in the segment of the core network, which supports data transmission, have also begun, in the process of preparing the network for independent 5G ("5G Standalone"). In Telekom, there are no sudden leaps without coverage - which I believe the market will continue to reward, of course if the general, social context is stably oriented. We are also recognized as a company that acts responsibly, invests and supports the community within which it operates in the broadest sense. We have worked and will continue to work on projects, but also on raising awareness of positive practices aimed at the environment. We are happy and strategically investing significant funds in this segment, but the response and support of not only users, but also the wider public is important. I will focus on the external digitization of the process, where we are at the level of 75% of the user base that uses an electronic account, with the intention of further pushing this percentage forward. That's why I invite users to think about an electronic alternative, overcome the barrier and accept a simpler solution, without the prejudice that an individual act is meaningless, because in the final analysis, every responsible action has an impact", said Stjepan Udovicic, CEO of Crnogorski Telekom, on the occasion of the Q1 results for the current year.
