Pursuant to the provisions of the Rules of the Ljubljana Stock Exchange and the legislation, Telekom Slovenije, d.d., Cigaletova 15, Ljubljana, hereby publishes the following notification:

At its 27th regular meeting, which took place on Wednesday, 12 November 2024, the Telekom Slovenije Supervisory Board reviewed unaudited results of the Telekom Slovenije Group and Telekom Slovenije, d.d., for the period between January and September 2024.

Telekom Slovenije Group has been successful at achieving its targets and continues to grow its user base. At the end of September 2024, Telekom Slovenije Group had a total of 115,554 more mobile retail users (up 6%) and 4% more fixed retail broadband connections than at the end of September 2023. The Group is growing its user base in both Slovenia and Kosovo.

In the period from January to September 2024, Telekom Slovenije Group generated EUR 536.4 million in operating revenue, which is 2% more than in the same period of 2023.

Net revenue reached EUR 530.8 million, which is 2% more than in the same period of 2023. The Group increased revenue due to growth in the number of users and higher sales of IT goods and services, while revenue from financial services, eHealth, and insurance also increased.

Telekom Slovenije Group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at EUR 185.3 million, which is EUR 3.6 million, i.e., 2% more than in the comparable period of 2023. The EBITDA-to-sales ratio at the Group level was 34.9%.

In 2024, Telekom Slovenije Group changed the method of accruing employee benefits relating to business and work performance. The estimated proportionate annual share of labour costs is included in the results for January-September 2024. This change increases labour costs compared to the same period last year, when these effects were recorded upon payment or in the annual financial statements. This normalises the results of quarterly reporting. 

Earnings before interest and taxes (EBIT) at the level of the Telekom Slovenije Group amounted to EUR 60.8 million at the Group level, which is 2% more than in the same period last year.

Following the calculation of corporate income tax with deferred taxes, the Telekom Slovenije Group had a net profit of EUR 46.6 million, which is 17% or EUR 6,7 million more than in the same period of 2023.

In the first nine months Telekom Slovenije Group put EUR 157.2 million towards investments. In Slovenia, Telekom Slovenije operates the biggest fixed and mobile networks. Currently Telekom Slovenije already provides access to its fibre-optics network to more than 476 thousand Slovenian households, and by constantly upgrading and modernising the entire network with the latest technologies, it is laying the foundation for further development, strengthening its competitive advantage, and creating technological support for the continued provision of secure and reliable cutting-edge telecommunications services in line with the latest trends and user expectations. As part of a comprehensive modernisation, which also increases coverage and strengthens capacity, Telekom Slovenije has increased the capacity of its 4G mobile network by 40% and its 5G network by more than three-fold in the last year. It currently covers 98% of the population with 4G technology, which it is still improving, and more than 76% of the population with 5G technology. In 2025, Telekom Slovenije will provide 99% population coverage with 5G.

The Telekom Slovenije Group estimates that in 2024 it will exceed its originally planned revenue, earnings before interest, taxes, depreciation, and amortisation (EBITDA). Based on currently available information, operating revenue is estimated to reach EUR 717 million, which is in line with the plans. Earnings before interest, tax, depreciation and amortisation (EBITDA) will amount to EUR 238 million, which is 2% higher than planned. Net profit is estimated at EUR 52 million, which is 21% above plans.

The announcement will also be available on the company’s website (www.telekom.si) for a period of at least 10 years.