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Hrvatski Telekom d.d.
Quarterly Report • Apr 29, 2025
2083_10-q_2025-04-29_accd4828-e941-42f9-bcf2-b37a05fb7234.pdf
Quarterly Report
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UNAUDITED CONSOLIDATED INTERIM REPORT FOR THE HT GROUP
JANUARY - MARCH 2025
1
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| COMMENT OF THE PRESIDENT OF THE MANAGEMENT BOARD 3 |
|---|
4 Q1 2025 HIGHLIGHTS |
6 SELECTED FINANCIAL DATA |
7 SELECTED OPERATIONAL DATA |
| HT GROUP 2025 OUTLOOK 9 |
| RISK MANAGEMENT 10 |
| CHANGES IN REPORTING 10 |
| HT GROUP FINANCIAL STATEMENTS 11 |
| NOTES TO THE CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS 14 |
16 STATEMENT OF THE MANAGEMENT BOARD OF HRVATSKI TELEKOM D.D. |
| PRESENTATION OF INFORMATION 17 |
| DISCLAIMER 17 |
| CONTACT DETAILS 18 |
19 APPENDIX |
COMMENT OF THE PRESIDENT OF THE MANAGEMENT BOARD
Commenting on the business results for Q1 2025, Nataša Rapaić, CEO of Hrvatski Telekom, stated:
"In the first quarter of 2025, we maintained our growth momentum, remaining committed to our mission of connecting people and ideas, the economy, and society with the most advanced network infrastructure, despite challenging market environment.
With the market leading investments, we further strengthened our network leadership by expanding our FTTH network, the largest in the country by an additional 22%. We successfully completed the shutdown of the 3G network, replacing it with faster, more advanced, and sustainable 4G and 5G technologies. We are proud to be the first operator in Croatia to reach this important milestone in mobile network development.
We are particularly pleased that our customers once again recognized our commitment to providing an exceptional customer experience. Through the Magenta Moments benefits program and partnerships with global leaders such as Perplexity AI and Wolt, we enriched our offering by bringing world-class innovations closer to our customers and providing additional value to them.
Our employees are the foundation of our success. Their expertise, dedication, and energy enable us to continue developing, which is why we have continued to invest in their knowledge and skills.
In 2025, we are clearly focused on further investments in innovation, building strong and modern infrastructure, delivering an outstanding customer experience, and contributing to the sustainable economic and social development of Croatia."
Q1 2025 HIGHLIGHTS
- Solid business development: Revenue up by 5.9%, adjusted EBITDA AL up by 3.0%, Net profit reached EUR 26.6m
- Market leading investments EUR 60.1m
- EUR 1.64 dividend proposed, 7.2% YoY growth
In Q1 2025, Hrvatski Telekom has maintained its growth trajectory, delivering a 5.9% YoY revenue growth, a result of positive business developments across consumer and business segment.
Adjusted EBITDA AL grew by 3.0%, driven by steady top line performance, offsetting persisting inflationary and salary pressures. Net profit after non-controlling interests remained stable in Q1 2025, at EUR 26.6 million as growth in adjusted EBITDA AL was counterbalanced by depreciation, net financial result and exceptional items.
In Q1 2025 investments reached EUR 60.1 million, up by 52.8% YoY, underlining HT's dedication to provide the platform for the country's digitalization and building fiber and mobile infrastructure across Croatia.
Strengthened network leadership
During Q1, we continued to expand the largest FTTH network in Croatia, increasing our footprint by additional 22% in new households and businesses YoY. Along with our own, market leading investments, we recently signed the latest four contracts for development of broadband access infrastructure, that are cofinanced via EU funds, with which we are building Very High-Capacity networks and bringing ultra-high speed internet to parts of Croatia where it does not exist, playing a vital role in bridging the digital divide across the country. This marks a step toward our goal of bringing gigabit fiber speeds to over 1.1 million households.
In Q1 2025, we achieved a major milestone in our mobile network evolution by becoming the first operator in Croatia to fully shut down the legacy 3G network. This move enabled the reallocation of 3G spectrum to faster, more advanced and sustainable 4G and 5G networks, ensuring enhanced experience for our customers.
Maintained market leadership in customer experience
Through our continuous commitment to enhance service quality across all customer touchpoints, we have once again delivered the best customer experience on the market, as confirmed by the industry benchmark TRI*M.
As part of our commitment to provide the exceptional value to our customers, we continued to enhance our "Magenta Moments" benefits program, through exclusive partnerships. A standout example of our innovative efforts is our partnership with Perplexity AI, one of the world's the most exciting AI companies, through which we have provided free access to Perplexity Pro, the most advanced AI assistant, making AI accessible to everyone. The initiative generated exceptional interest and overwhelmingly positive user feedback, allowing us to exceed expectations by delivering Perplexity Pro licenses to 40,000 users, double the initial goal. Moreover, we have recently partnered with Wolt, bringing added value for our customers by offering 12-months of unlimited zero fee deliveries through the Wolt+ subscription.
Attractive capital return for shareholders
The Management Board and Supervisory Board of Hrvatski Telekom Inc. have proposed to the General Assembly a dividend of EUR 1.64 per share, directly benefiting nearly 150,000 shareholders, private individuals and institutional investors, who directly participate in the company's success.
The amount of EUR 1.64 per share represents a ratio of the dividend payment in relation to the realized profit of the Company of 92.2% and growth of 7.2% compared to the previous year.
In Q1 2025 Hrvatski Telekom, within the framework of ongoing Share Buyback Program has purchased additional 395,150 Company shares on the Zagreb Stock Exchange. The total number of acquired Company shares on 31 March 2025 amounted to 1,207,513, representing 1.55% of the Company's issued share capital.
Unchanged Outlook for 2025
Although the environment remains challenging and increasingly volatile, our primary objective is to continue with our growth trajectory. We are keeping our Outlook from February aiming for a low singledigit growth in revenue, EBITDA AL, and CAPEX AL compared to 2024. Our stance on regional expansion remains unchanged, as we diligently assess potential M&A opportunities.
SELECTED FINANCIAL DATA
| Key financial data - HT Group (EUR million) | Q1 2024 | Q1 2025 % of change A25/A24 |
|
|---|---|---|---|
| Revenue | 252.7 | 267.6 | 5.9% |
| Mobile service revenues | 89.1 | 96.2 | 8.0% |
| Mobile non-service revenues | 47.1 | 48.5 | 2.8% |
| Fixed service revenues | 83.1 | 88.1 | 6.0% |
| Fixed non-service revenues | 15.4 | 15.8 | 2.9% |
| System solutions | 18.0 | 18.9 | 5.4% |
| Adjusted EBITDA AL | 93.2 | 95.9 | 3.0% |
| Adjusted EBITDA AL margin | 36.9% | 35.9% | -1.0 p.p. |
| EBIT | 33.8 | 33.8 | 0.1% |
| EBIT margin | 13.4% | 12.6% | -0.7 p.p. |
| Net profit after non controlling interest | 26.6 | 26.6 | 0.0% |
| Net profit margin | 10.5% | 9.9% | -0.6 p.p. |
| CAPEX AL | 39.3 | 60.1 | 52.8% |
| CAPEX AL / Revenue ratio | 15.6% | 22.5% | 6.9 p.p. |
| IFRS 16 CAPEX | 22.0 | 13.6 | -38.2% |
| Key financial data - HT Group in Croatia (EUR million) | Q1 2024 | Q1 2025 % of change A25/A24 |
|
|---|---|---|---|
| Revenue | 232.6 | 246.6 | 6.0% |
| Mobile service revenues | 80.2 | 86.8 | 8.2% |
| Mobile non-service revenues | 44.4 | 46.0 | 3.6% |
| Fixed service revenues | 76.8 | 81.4 | 6.0% |
| Fixed non-service revenues | 14.0 | 14.1 | 0.9% |
| System solutions | 17.1 | 18.2 | 6.3% |
| Adjusted EBITDA AL | 85.9 | 88.3 | 2.8% |
| Adjusted EBITDA AL margin | 36.9% | 35.8% | -1.1 p.p. |
| EBIT | 32.2 | 32.1 | -0.3% |
| EBIT margin | 13.8% | 13.0% | -0.8 p.p. |
| Net profit after non controlling interest | 25.9 | 25.5 | -1.5% |
| Net profit margin | 11.1% | 10.4% | -0.8 p.p. |
| CAPEX AL | 34.1 | 56.0 | 64.1% |
| CAPEX AL / Revenue ratio | 14.7% | 22.7% | 8.0 p.p. |
| IFRS 16 CAPEX | 18.7 | 11.9 | -36.6% |
| Key financial data - CT (EUR million) | Q1 2024 | Q1 2025 % of change A25/A24 |
|
|---|---|---|---|
| Revenue | 20.4 | 21.2 | 3.6% |
| Mobile service revenues | 8.9 | 9.4 | 5.8% |
| Mobile non-service revenues | 2.7 | 2.5 | -9.1% |
| Fixed service revenues | 6.4 | 6.7 | 4.3% |
| Fixed non-service revenues | 1.5 | 1.8 | 20.0% |
| System solutions | 0.9 | 0.8 | -13.1% |
| Adjusted EBITDA AL | 7.3 | 7.7 | 5.6% |
| Adjusted EBITDA AL margin | 35.5% | 36.2% | 0.7 p.p. |
| EBIT | 1.5 | 1.7 | 8.0% |
| EBIT margin | 7.5% | 7.8% | 0.3 p.p. |
| Net profit after non controlling interest | 0.8 | 1.3 | 56.6% |
| Net profit margin | 4.1% | 6.2% | 2.1 p.p. |
| CAPEX AL | 5.2 | 4.1 | -21.5% |
| CAPEX AL / Revenue ratio | 25.5% | 19.3% | -6.2 p.p. |
| IFRS 16 CAPEX | 3.3 | 1.7 | -47.1% |
SELECTED OPERATIONAL DATA
| Key operational data - HT Group in Croatia¹ | Q1 2024 | Q1 2025 % of change A25/A24 |
|
|---|---|---|---|
| Mobile | |||
| Number of customers | 2,337 | 2,472 | 5.8% |
| - Prepaid | 854 | 919 | 7.6% |
| - Postpaid | 1,483 | 1,553 | 4.7% |
| Blended ARPU | 11.0 | 11.2 | 2.0% |
| - Prepaid | 5.0 | 4.3 | -13.7% |
| - Postpaid | 14.4 | 15.3 | 5.7% |
| Fixed | |||
| Voice connections - retail | 718 | 714 | -0.4% |
| - ARPU voice per user | 7.9 | 7.8 | -1.5% |
| Broadband connections - retail | 663 | 669 | 0.9% |
| - Broadband retail ARPU | 14.8 | 15.6 | 5.6% |
| TV connections | 543 | 552 | 1.5% |
| - TV ARPU | 12.6 | 13.8 | 9.7% |
| Wholesale connections¹ | 178 | 170 | -4.6% |
| 1 Includes Naked Bitstream + Bitstream + ULL + FA + WLR wholesale rental |
|||
| Key operational data - CT (in thousands) | Q1 2024 | Q1 2025 % of change A25/A24 |
|
| Mobile | |||
| Number of customers | 459 | 466 | 1.6% |
| - Prepaid | 146 | 141 | -3.0% |
| - Postpaid | 313 | 325 | 3.7% |
| Fixed | |||
| Fixed mainlines - retail | 100 | 100 | -0.6% |
| Broadband access lines - retail | 84 | 84 | 0.8% |
| TV customers | 82 | 83 | 2.0% |
I. Revenue
Mobile service revenue supported by postpaid growth, prepaid to postpaid migration and price adjustments.
Mobile non-service revenue growth driven by hardware promotions and increased market dynamics in Q1.
Fixed service revenue grew driven by customer migrations to higher value propositions, capitalizing on investment in fiber and premium sport content, and price adjustments.
Fixed non-service revenue remained stable.
System solutions revenue increased due to demand for integrated ICT offerings with focus on cloud and cybersecurity.
Crnogorski Telekom mobile service revenues increase is mainly driven by performance in postpaid. Fixed service revenue growth was supported by better broadband and TV. System Solutions revenues decrease is reflecting the lower volume of one-time deals.
II. Profitability
Material expenses increased primarily due to increase merchandise cost, reflecting handset promotions amid increased market dynamics as well as rising content costs following new FTA pricing regulations.
Employee benefit expenses also increased, driven by continued strategic investments in our people. As well as timing of severance payments.
Other expenses remained stable as higher rental and leasing costs were offset by continued transformation of operating model and cost efficiency initiatives.
Adjusted EBITDA AL growth driven by strong top line performance, offsetting continuing inflationary and salary pressures.
Net profit after non-controlling interests in Q1 2025 remained stable, as growth in EBITDA was offset by higher depreciation, negative net financial result and exceptional items.
III. CAPEX AL (excluding spectrum)
Capex AL w/o Spectrum in Q1 2025 is higher due to timing of content contracts renewals and continued expansion of fiber and mobile infrastructure.
IV. Financial position
Balance sheet
HT Group's total assets decreased compared to last year mainly due to lower level of cash and cash equivalents and prepayments. The decrease of assets was partially offset by capital investments and higher volume of inventories.
HT Group's capital increased compared to last year due to net profit and activities of cash flow hedging reported through other comprehensive income in the reporting period.
Trade payables and other liabilities decreased compared to 2024 due to higher volume of business at YE.
Cash flow (CF)
Net cash flow from HT Group's operating activities is a result of movement of current liabilities and receivables, as well as inventory volume.
The decrease in cash expenditure from investment activities in 2025 is mainly driven by invoicing dynamics and payment terms.
The net cash expenditure from financial activities increased primarily due to share buy back and content repayments.
HT GROUP 2025 OUTLOOK
| Results 2024 | Outlook 2025 vs. 2024 |
|
|---|---|---|
| REVENUE | EUR 1,102 million | Low-single-digit increase |
| ADJ. EBITDA AL | EUR 416 million | Low-single-digit increase |
| CAPEX AL¹ | EUR 243 million | Low-single-digit increase |
| REGIONAL EXPANSION |
HT is monitoring and evaluating potential M&A opportunities |
HT is monitoring and evaluating potential M&A opportunities |
1.Excluding Spectrum
RISK MANAGEMENT
Besides the business and regulatory developments detailed in this statement, and in the publicly available audited financial statements for 2024, there were no material changes to the Group's risk profile in the period under review.
CHANGES IN REPORTING
On 8 November 2023, HT and Iskon concluded the Merger Agreement of Iskon into HT. The merger was entered into the Court Register of the Commercial Court in Zagreb on 1 January 2024, by which the merged company Iskon ceased to exist as a separate legal entity. As the acquiring company, HT became the universal legal successor of Iskon, thus entering all legal relationships of the merged company. Products and services previously offered by Iskon continue to be provided within HT but as a separate Iskon brand.
On 1 January 2024, the technological unit Ericsson Nikola Tesla Servisi ltd. (hereinafter referred to as "ENTS"), responsible for the construction and maintenance of the HT network, which was initially outsourced to ENTS in September 2014, was integrated into HT Group. The now former technological unit of ENTS has been transferred together with the employees to HT Servisi ltd. (a subsidiary company established by HT on 15 November 2023, and fully owned by HT), based on the Agreement on the transfer of a part of the economic activity concluded with ENTS.
Based on the Merger Agreement concluded on 5 November 2024 between Hrvatski Telekom ltd. and HT Servisi ltd. and the General Assembly of the merged company on approval for the merger on 2 January 2025, the merger has been entered into the Court Register of the Commercial Court in Zagreb. Upon entry of the merger the company HT Servisi ltd. ceased to exist, and HT Inc. became the universal legal successor, thus entering into all legal relationships of the merged company.
HT GROUP FINANCIAL STATEMENTS
Unaudited consolidated financial statements
Consolidated Income Statement
| HT Group | ||||
|---|---|---|---|---|
| in EUR million | Q1 2024 | Q1 2025 | % | |
| Revenue | 252.7 | 267.6 | 5.9% | |
| Other operating income | 2.5 | 0.7 | -70.0% | |
| Total operating revenue | 255.2 | 268.3 | 5.1% | |
| OPEX AL | -167.1 | -179.6 | 7.5% | |
| Material expenses | -78.5 | -84.2 | 7.2% | |
| Employee benefits expenses | -45.8 | -52.7 | 15.1% | |
| Work performed by the Group and capitalised | 1.8 | 2.9 | 59.8% | |
| Other expenses | -30.2 | -30.5 | 1.1% | |
| Net impairment losses on trade receivables and contract assets | -2.0 | -1.8 | -10.9% | |
| LEASE Depreciation | -11.2 | -11.9 | 6.2% | |
| LEASE Interest | -1.2 | -1.3 | 8.1% | |
| EBITDA AL | 88.0 | 88.7 | 0.7% | |
| EBITDA AL margin | 34.8% | 33.1% | -1.7 p.p. | |
| Exceptional items* | 5.1 | 7.3 | 41.6% | |
| Adjusted EBITDA AL | 93.2 | 95.9 | 3.0% | |
| Adjusted EBITDA AL margin | 36.9% | 35.9% | -1.0 p.p. | |
| Depreciation (without leases) | -55.5 | -56.2 | 1.3% | |
| EBIT | 33.8 | 33.8 | 0.1% | |
| EBIT margin | 13.4% | 12.6% | -0.7 p.p. | |
| Net financial result (non IFRS 16 related) | 1.2 | 0.7 | -44.0% | |
| Financial income | 2.4 | 1.8 | -24.7% | |
| Income/loss from investment in joint ventures | 0.0 | 0.0 | - | |
| Financial expenses | -1.2 | -1.1 | 5.0% | |
| Tax provisions | -7.0 | -6.3 | -10.1% | |
| Non controlling interests | -0.2 | -0.3 | 45.2% | |
| Net profit after non controlling interests | 26.6 | 26.6 | 0.0% | |
| Net profit margin | 10.5% | 9.9% | -0.6 p.p. |
* Exceptional items mainly relate to restructuring redundancy costs and legal cases
Note: Starting this quarter, Lease Depreciation and Lease Interest will be shown separately within OPEX AL.
Consolidated Balance Sheet
| in EUR million | At 31 Dec | At 31 Mar | % of change |
|---|---|---|---|
| 2024 | 2025 | A25/A24 | |
| Intangible assets | 394.9 | 401.2 | 1.6% |
| Property, plant and equipment | 868.4 | 866.1 | -0.3% |
| Non-current financial assets | 0.3 | 0.3 | -2.2% |
| Non-current receivables | 46.9 | 48.2 | 2.9% |
| Prepayments and accrued income due > 1 year | 17.2 | 13.4 | -21.8% |
| Right-of-use assets | 81.4 | 82.8 | 1.8% |
| Contract assets due > 1 year | 10.2 | 12.1 | 19.0% |
| Contract costs due > 1 year | 34.6 | 37.4 | 8.2% |
| Deferred tax asset | 20.0 | 22.2 | 10.9% |
| Total non-current assets | 1,473.8 | 1,483.8 | 0.7% |
| Inventories | 44.5 | 48.0 | 8.0% |
| Assets held for sale | 31.6 | 31.6 | 0.0% |
| Current receivables | 249.2 | 243.7 | -2.2% |
| Current financial assets | 0.0 | 0.0 | - |
| Contract assets due <= 1 year | 39.2 | 43.7 | 11.3% |
| Contract costs due <= 1 year | 13.7 | 13.3 | -2.8% |
| Cash and cash equivalents | 229.7 | 207.9 | -9.5% |
| Prepayments and accrued income due <= 1 year | 15.5 | 10.8 | -30.1% |
| Total current assets | 623.4 | 599.1 | -3.9% |
| TOTAL ASSETS | 2,097.1 | 2,082.8 | -0.7% |
| Subscribed share capital | 1,359.7 | 1,359.7 | 0.0% |
| Reserves | 96.9 | 113.8 | 17.5% |
| Revaluation reserves | 0.0 | 0.0 | -33.1% |
| Cash flow hedge reserves | -8.6 | -7.8 | 9.7% |
| Treasury shares | -29.7 | -46.6 | -57.0% |
| Retained earnings | 83.5 | 208.5 | 149.6% |
| Net profit for the period | 141.9 | 26.6 | -81.3% |
| Non controlling interest | 32.7 | 33.0 | 0.9% |
| Total issued capital and reserves | 1,676.6 | 1,687.4 | 0.6% |
| Provisions | 17.4 | 17.9 | 2.4% |
| Non-current liabilities | 32.2 | 31.1 | -3.5% |
| Lease liabilities due > 1 year | 55.4 | 54.9 | -0.9% |
| Contract liabilities due > 1 year | 0.0 | 0.0 | - |
| Deferred tax liability | 4.4 | 4.5 | 2.7% |
| Total non-current liabilities | 109.4 | 108.3 | -1.0% |
| Current liabilities | 259.3 | 236.4 | -8.9% |
| Lease liabilities due <= 1 year | 21.2 | 22.7 | 7.1% |
| Contract liabilities due <= 1 year | 16.6 | 15.7 | -5.1% |
| Accrued expenses and deferred income | 12.1 | 12.1 | -0.3% |
| Provisions for redundancy | 2.0 | 0.3 | -84.9% |
| Total current liabilities | 311.2 | 287.1 | -7.7% |
| Total liabilities | 420.5 | 395.4 | -6.0% |
| TOTAL EQUITY AND LIABILITIES | 2,097.1 | 2,082.8 | -0.7% |
Consolidated Cash Flow Statement
| in EUR million | Q1 2024 | Q1 2025 | % of change A25/A24 |
|---|---|---|---|
| Profit before tax | 33.8 | 33.2 | -1.8% |
| Depreciation and amortization | 66.7 | 68.1 | 2.1% |
| Increase / decrease of current liabilities | 7.2 | -9.1 | -227.0% |
| Increase / decrease of current receivables | 13.7 | 9.1 | -33.3% |
| Increase / decrease of inventories | -12.0 | -3.6 | 70.2% |
| Other cash flow increases / decreases | -11.8 | -12.1 | -2.7% |
| Net cash inflow/outflow from operating activities | 97.5 | 85.6 | -12.3% |
| Proceeds from sale of non-current assets | 0.3 | 0.0 | -99.2% |
| Proceeds from sale of non-current financial assets | 0.0 | 0.1 | 424.2% |
| Interest received | 2.2 | 1.3 | -41.6% |
| Dividend received | 0.0 | 0.0 | - |
| Other cash inflows from investing activities | 0.2 | 0.1 | -63.8% |
| Total increase of cash flow from investing activities | 2.7 | 1.5 | -44.9% |
| Purchase of non-current assets | -60.5 | -56.8 | 6.1% |
| Purchase of non-current financial assets | -0.1 | 0.0 | 100.9% |
| Other cash outflows from investing activities | -0.7 | -0.4 | 36.2% |
| Total decrease of cash flow from investing activities | -61.3 | -57.3 | 6.5% |
| Net cash inflow/outflow from investing activities | -58.6 | -55.8 | 4.8% |
| Total increase of cash flow from financing activities | 0.0 | 0.0 | - |
| Dividends paid | 0.0 | 0.0 | -173.2% |
| Repayment of lease | -11.4 | -12.3 | -7.8% |
| Other cash outflows from financing activities | -10.4 | -39.2 | -277.8% |
| Total decrease in cash flow from financing activities | -21.8 | -51.5 | -136.4% |
| Net cash inflow/outflow from financing activities | -21.8 | -51.5 | -136.4% |
| Exchange gains/losses on cash and cash equivalents | 0.0 | 0.0 | - |
| Cash and cash equivalents at the beginning of period* | 233.1 | 229.7 | -1.5% |
| Net cash (outflow) / inflow | 17.1 | -21.7 | -226.8% |
| Cash and cash equivalents at the end of period | 250.2 | 207.9 | -16.9% |
NOTES TO THE CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
Basis of preparation
The condensed consolidated financial statements as of 31 March 2025 and for the year then ended, have been prepared using accounting policies consistent with International Financial Reporting Standards.
Significant Accounting Policies
The consolidated financial statements have been prepared under the historical cost convention, except for investments available-for-sale stated at fair value.
The same accounting policies, presentation and methods of computation are followed in these condensed consolidated financial statements as were applied in the preparation of HT's consolidated financial statements for the year ended 31 December 2024.
Relations with the governing company and its affiliated companies
In the first three months of 2025 there were no transactions among related parties with a significant impact on the financial position and operations of the Group in the given period.
In the first three months of 2025 there were no changes in transactions among related parties which were specified in the Annual financial report for 2024 and which had a significant impact on the financial position and operations of the Group in 2025.
Business relations transacted between HT d.d. and affiliated companies thereof (hereinafter referred to as: Group) in first three months of 2025 and the governing company and affiliated companies thereof can be classified as follows:
Transactions with related companies
Transactions with related companies primarily related to the transactions with the companies owned by Deutsche Telekom AG (hereinafter referred to as: DTAG). The Group enters into transactions in the regular course of business on an arm's length basis. These transactions included the sending and receiving of international traffic to/from these companies and other intercompany services between related companies.
In first three months of 2025 the Group generated total revenue from related companies to the amount of EUR 5.0 million (the first three months of 2024: EUR 4.9 million), while total costs amounted to EUR 7.8 million (the first three months of 2024: EUR 7.0 million).
Compensation of the Supervisory Board
The chairman of the Supervisory Board receives remuneration in the amount of 1.5 times of the average net salary of the employees of the Company paid in the preceding month. To the deputy chairman, remuneration is the amount of 1.25 times of the average net salary of the employees of the Company paid in the preceding month is paid, while any other member receives the amount of one average net salary of the employees of the Company paid in the preceding month.
To a member of the Supervisory Board, who is at the same time the Chairman of the Audit Committee of the Supervisory Board, remuneration is the amount of 1.5 times of the average monthly net salary of the employees of the Company paid in the preceding month.
To a member of the Supervisory Board, who is at the same time a Member of one board or committee of the Supervisory Board, remuneration is the amount of 1.25 times of the average monthly net salary of the employees of the Company paid in the preceding month. To a member of the Supervisory Board, who is at the same time a Member of two or more committees of the Supervisory Board, remuneration is the amount of 1.5 times of the average monthly net salary of the employees of the Company paid in the preceding month. DT AG representatives do not receive any remuneration for the membership in the Supervisory Board due to a respective policy of DT AG.
In the first three months 2025, the Group paid a total amount of EUR 0.03 million (the first three months 2024: EUR 0.03 million) to the Members of its Supervisory Board. No loans were granted to the Members of the Supervisory Board.
Compensation to key management personnel
In the first three months 2025, the total compensation paid to key management personnel of the Group amounted to EUR 1.7 million (the first three months 2024: EUR 1.3 million). Compensation paid to key management personnel relates to short-term employee benefits. Key management personnel include members of the Management Boards of the Company and its subsidiaries and the Company`s directors of Sector, who are employed by the Group.
STATEMENT OF THE MANAGEMENT BOARD OF HRVATSKI TELEKOM D.D.
Financial Statements of the company Hrvatski Telekom d.d., for the Q1 2025, consolidated and nonconsolidated, are not audited.
To the best of our knowledge, unaudited financial statements of the company Hrvatski Telekom d.d. (hereinafter: "Company") and unaudited consolidated financial statements of the Company and affiliated companies thereof (hereinafter: "Group"), which are prepared in accordance with International Financial Reporting Standards (IFRS), give a true and fair view of assets and obligations, profit and loss, financial position, and operations of both the Company and the Group.
The Management report for the Q1 2025 contains a true presentation of development and results of operations and position of the Group, with description of significant risks and uncertainties for the Group as a whole.
Ms. Nataša Rapaić, President of the Management Board
Ms. Marijana Bačić, Member of the Management Board and Chief Operating Officer Business
Mr. Ivan Bartulović, Member of the Management Board and Chief Operating Officer for Human Resources and Customer Operations
Mr. Boris Drilo, Member of the Management Board and Chief Technical and Chief Information Officer
Mr. Siniša Đuranović, Member of the Management Board and Chief Corporate Affairs Officer
Mr. Matija Kovačević, Member of the Management Board and Chief Financial Officer
Mr. Krešimir Madunović, Member of the Management Board and Chief Operating Officer Residential
Zagreb, 29 April 2025
PRESENTATION OF INFORMATION
Unless the context otherwise requires, references in this publication to ''HT Group'' or ''the Group'' or "HT" are to the Company Hrvatski Telekom d.d., together with its subsidiaries.
References to ''Combis'' are to the Company's wholly owned subsidiary, Combis d.o.o.
References to "Crnogorski" or "CT" are to Crnogorski Telekom, the company fully consolidated into the Group's financial statements as of 1 January 2017.
References in this publication to ''Agency'' are to the Croatian Regulatory Authority for Network Industries (HAKOM).
DISCLAIMER
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Group. These forward-looking statements represent the Company's expectations or beliefs concerning future events and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Additional information concerning important factors that could cause actual results to differ materially is available in the Group's reports which may be found at www.t.ht.hr
CONTACT DETAILS
Hrvatski Telekom Investor Relations
Tomislav Bajić, CFA
- 385 1 4911 114
A conference call for analysts and investors will be held on Tuesday, 29 April 2025 at 12:00 CET.
Hrvatski Telekom Inc.
Radnička cesta 21, HR - Zagreb Member State: Republic of Croatia Listing: Zagreb Stock Exchange, Prime Market Ordinary share: HT (ISIN: HRHT00RA0005) LEI: 097900BFHJ0000029454
Full unaudited results for HT Group and HT d.d., other prescribed documentation as well as a presentation covering results, can be downloaded from the HT web site (www.t.ht.hr/en/investor-relations/) and are fully available in the Official Register of Prescribed Information (SRPI).
APPENDIX
HT GROUP FINANCIAL STATEMENTS – TFI POD
Unaudited consolidated financial statements
* The following statements are prepared according to TFI-POD requirements. Therefore, the structure of the statements is not entirely the same as our statements presented on the previous pages prepared according to IFRS methodology.
| Annex 1 | ISSUER'S GENERAL DATA | ||||
|---|---|---|---|---|---|
| Reporting period: | 01.01.2025 | to | 31.03.2025 | ||
| Year: | 2025 | ||||
| Quarter: | 1. | ||||
| Quarterly financial statements | |||||
| egistration number (MB): | 1414887 | Issuer's home Member | HR | ||
| Entity's registration | 80266256 | State code: | |||
| number (MBS): Personal identification number (OIB): |
81793146560 | LEI: | 097900BFHJ0000029454 | ||
| Institution code: |
273 | ||||
| Name of the issuer: Hrvatski Telekom d.d. | |||||
| Postcode and town: | 10000 | Zagreb | |||
| Street and house number: Radnička cesta 21 | |||||
| E-mail address: [email protected] | |||||
| Web address: www.t.ht.hr | |||||
| Number of employees (end of the reporting |
5647 | ||||
| Consolidated report: | KD | (KN-not consolidated/KD-consolidated) | KN | KD | |
| Audited: | RN | (RN-not audited/RD-audited) | RN | RD | |
| Names of subsidiaries (according to IFRS): | Registered office: | MB: | |||
| COMBIS d.o.o. | Radnička cesta 21, Zagreb | 3609103 | |||
| Crnogorski Telekom A.D. | Moskovska 29, Podgorica | 02289377 | |||
| HT Holding | Radnička cesta 21, Zagreb | 04659511 | |||
| HT Servisi | Radnička cesta 21, Zagreb | 05861624 | |||
| Bookkeeping firm: | No | (Yes/No) | Yes No |
||
| Contact person: | (name of the bookkeeping firm) | ||||
| Telephone: | (only name and surname of the contact person) | ||||
| E-mail address: [email protected] | |||||
| Audit firm: Deloitte d.o.o. | |||||
| (name of the audit firm) Certified auditor: Katarina Kadunc |
|||||
| (name and surname) |
BALANCE SHEET balance as at 31.03.2025
| in EUR Submitter: Hrvatski Telekom d.d. |
|||
|---|---|---|---|
| Item | ADP code |
Last day of the preceding business year |
At the reporting date of the current period |
| 1 | 2 | 3 | 4 |
| A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID | 001 | 0 | 0 |
| B) FIXED ASSETS (ADP 003+010+020+031+036) | 002 | 1.456.600.424 | 1.470.357.687 |
| I INTANGIBLE ASSETS (ADP 004 to 009) | 003 | 476.241.875 | 483.992.359 |
| 1 Research and development 2 Concessions, patents, licences, trademarks, software and other |
004 | 0 | 0 |
| rights | 005 | 309.995.947 | 319.335.578 |
| 3 Goodwill 4 Advances for the purchase of intangible assets |
006 007 |
46.087.164 0 |
46.087.164 0 |
| 5 Intangible assets in preparation | 008 | 38.795.338 | 35.756.188 |
| 6 Other intangible assets | 009 | 81.363.426 | 82.813.429 |
| II TANGIBLE ASSETS (ADP 011 to 019) 1 Land |
010 011 |
868.401.545 5.709.954 |
866.122.325 5.709.954 |
| 2 Buildings | 012 | 513.792.603 | 539.077.449 |
| 3 Plant and equipment | 013 | 175.939.759 | 184.331.197 |
| 4 Tools, working inventory and transportation assets | 014 | 438.625 | 409.897 |
| 5 Biological assets 6 Advances for the purchase of tangible assets |
015 016 |
0 466.838 |
0 908.304 |
| 7 Tangible assets in preparation | 017 | 170.383.753 | 134.025.398 |
| 8 Other tangible assets | 018 | 1.149.063 | 1.143.569 |
| 9 Investment property III FIXED FINANCIAL ASSETS (ADP 021 to 030) |
019 020 |
520.950 292.958 |
516.557 286.515 |
| 1 Investments in holdings (shares) of undertakings within the group | 021 | 0 | 0 |
| 2 Investments in other securities of undertakings within the group | 022 | 0 | 0 |
| 3 Loans, deposits, etc. to undertakings within the group 4. Investments in holdings (shares) of companies linked by virtue of |
023 | 0 | 0 |
| participating interests 5 Investment in other securities of companies linked by virtue of |
024 | 0 | 0 |
| participating interests 6 Loans, deposits etc. to companies linked by virtue of participating |
025 | 0 | 0 |
| interests | 026 | 0 | 0 |
| 7 Investments in securities 8 Loans, deposits, etc. given |
027 028 |
292.958 0 |
286.515 0 |
| 9 Other investments accounted for using the equity method | 029 | 0 | 0 |
| 10 Other fixed financial assets | 030 | 0 | 0 |
| IV RECEIVABLES (ADP 032 to 035) 1 Receivables from undertakings within the group |
031 032 |
91.621.827 0 |
97.731.201 0 |
| 2 Receivables from companies linked by virtue of participating interests |
033 | 0 | 0 |
| 3 Customer receivables | 034 | 84.755.095 | 91.049.588 |
| 4 Other receivables V DEFERRED TAX ASSETS |
035 036 |
6.866.732 20.042.219 |
6.681.613 22.225.287 |
| C) CURRENT ASSETS (ADP 038+046+053+063) | 037 | 607.840.655 | 588.206.789 |
| I INVENTORIES (ADP 039 to 045) | 038 | 76.043.614 | 79.608.317 |
| 1 Raw materials and consumables | 039 | 10.373.188 | 11.883.515 |
| 2 Work in progress 3 Finished goods |
040 041 |
0 0 |
0 0 |
| 4 Merchandise | 042 | 34.109.826 | 36.164.202 |
| 5 Advances for inventories | 043 | 0 | 0 |
| 6 Fixed assets held for sale 7 Biological assets |
044 045 |
31.560.600 0 |
31.560.600 0 |
| II RECEIVABLES (ADP 047 to 052) | 046 | 302.138.804 | 300.686.197 |
| 1 Receivables from undertakings within the group | 047 | 2.783.037 | 1.423.319 |
| 2 Receivables from companies linked by virtue of participating interests |
048 | 0 | 0 |
| 3 Customer receivables | 049 | 287.813.474 | 289.111.521 |
| 4 Receivables from employees and members of the undertaking | 050 | 4.541.619 | 4.461.136 |
| 5 Receivables from government and other institutions 6 Other receivables |
051 052 |
2.938.741 4.061.933 |
790.158 4.900.063 |
| III CURRENT FINANCIAL ASSETS (ADP 054 to 062) | 053 | 0 | 0 |
| 1 Investments in holdings (shares) of undertakings within the group | 054 | 0 | 0 |
| 2 Investments in other securities of undertakings within the group | 055 | 0 | 0 |
| 3 Loans, deposits, etc. to undertakings within the group 4 Investments in holdings (shares) of companies linked by virtue of |
056 | 0 | 0 |
| participating interests 5 Investment in other securities of companies linked by virtue of |
057 | 0 | 0 |
| participating interests 6 Loans, deposits etc. to companies linked by virtue of participating |
058 059 |
0 0 |
0 0 |
| interests 7 Investments in securities |
060 | 0 | 0 |
| 8 Loans, deposits, etc. given | 061 | 0 | 0 |
| 9 Other financial assets | 062 | 0 | 0 |
| IV CASH AT BANK AND IN HAND D ) PREPAID EXPENSES AND ACCRUED INCOME |
063 064 |
229.658.237 32.682.650 |
207.912.275 24.269.403 |
| E) TOTAL ASSETS (ADP 001+002+037+064) | 065 | 2.097.123.729 | 2.082.833.879 |
| OFF-BALANCE SHEET ITEMS | 066 | 0 | 0 |
| LIABILITIES | |||
|---|---|---|---|
| A) CAPITAL AND RESERVES (ADP 068 to | 067 | 1.676.578.324 | 1.687.423.462 |
| 070+076+077+083+086+089) | |||
| I INITIAL (SUBSCRIBED) CAPITAL | 068 | 1.359.742.172 | 1.359.742.172 |
| II CAPITAL RESERVES | 069 | 0 | 0 |
| III RESERVES FROM PROFIT (ADP 071+072-073+074+075) | 070 | 67.245.245 | 67.266.394 |
| 1 Legal reserves | 071 | 67.987.109 | 67.987.109 |
| 2 Reserves for treasury shares | 072 | 28.579.126 | 45.477.986 |
| 3 Treasury shares and holdings (deductible item) | 073 | -29.652.760 | -46.551.622 |
| 4 Statutory reserves | 074 | 0 | 0 |
| 5 Other reserves | 075 | 331.770 | 352.921 |
| IV REVALUATION RESERVES V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082) |
076 | 0 | 0 |
| 077 | -8.564.340 | -7.737.776 | |
| 1 Financial assets at fair value through other comprehensive income (i.e. available for sale) |
078 | 19.457 | 13.014 |
| 2 Cash flow hedge - effective portion | 079 | -8.583.797 | -7.750.790 |
| 3 Hedge of a net investment in a foreign operation - effective portion | 080 | 0 | 0 |
| 4 Other fair value reserves | 081 | 0 | 0 |
| 5 Exchange differences arising from the translation of foreign | |||
| operations (consolidation) | 082 | 0 | 0 |
| VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084- | |||
| 085) | 083 | 83.546.686 | 208.517.218 |
| 1 Retained profit | 084 | 83.546.686 | 208.517.218 |
| 2 Loss brought forward | 085 | 0 | 0 |
| VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088) | 086 | 141.869.392 | 26.596.140 |
| 1 Profit for the business year | 087 | 141.869.392 | 26.596.140 |
| 2 Loss for the business year | 088 | 0 | 0 |
| VIII MINORITY (NON-CONTROLLING) INTEREST | 089 | 32.739.169 | 33.039.314 |
| B) PROVISIONS (ADP 091 to 096) | 090 | 17.440.430 | 17.866.887 |
| 1 Provisions for pensions, termination benefits and similar obligations | 091 | 3.417.152 | 3.982.828 |
| 2 Provisions for tax liabilities | 092 | 0 | 0 |
| 3 Provisions for ongoing legal cases | 093 | 8.583.407 | 8.384.417 |
| 4 Provisions for renewal of natural resources | 094 | 0 | 0 |
| 5 Provisions for warranty obligations | 095 | 0 | 0 |
| 6 Other provisions | 096 | 5.439.871 | 5.499.642 |
| C) LONG-TERM LIABILITIES (ADP 098 to 108) | 097 | 91.951.117 | 90.436.192 |
| 1 Liabilities to undertakings within the group | 098 | 0 | 0 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the group | 099 | 0 | 0 |
| 3 Liabilities to companies linked by virtue of participating interests | 100 | 0 | 0 |
| 4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests |
101 | 0 | 0 |
| 5 Liabilities for loans, deposits etc. | 102 | 0 | 0 |
| 6 Liabilities to banks and other financial institutions | 103 | 0 | 0 |
| 7 Liabilities for advance payments | 104 | 0 | 0 |
| 8 Liabilities to suppliers | 105 | 0 | 0 |
| 9 Liabilities for securities | 106 | 0 | 0 |
| 10 Other long-term liabilities | 107 | 87.580.450 | 85.948.001 |
| 11 Deferred tax liability | 108 | 4.370.667 | 4.488.191 |
| D) SHORT-TERM LIABILITIES (ADP 110 to 123) | 109 | 299.049.110 | 275.035.863 |
| 1 Liabilities to undertakings within the group | 110 | 15.229.794 | 14.005.183 |
| 2 Liabilities for loans, deposits, etc. of undertakings within the group | 111 | 0 | 0 |
| 3 Liabilities to companies linked by virtue of participating interests | 112 | 0 | 0 |
| 4 Liabilities for loans, deposits etc. of companies linked by virtue of | |||
| participating interests | 113 | 0 | 0 |
| 5 Liabilities for loans, deposits etc. | 114 | 0 | 0 |
| 6 Liabilities to banks and other financial institutions | 115 | 0 | 0 |
| 7 Liabilities for advance payments | 116 | 0 | 0 |
| 8 Liabilities to suppliers | 117 | 175.767.538 | 155.929.137 |
| 9 Liabilities for securities | 118 | 0 | 0 |
| 10 Liabilities to employees | 119 | 34.826.049 | 33.056.376 |
| 11 Taxes, contributions and similar liabilities | 120 | 6.070.251 | 12.980.819 |
| 12 Liabilities arising from the share in the result | 121 | 0 | 0 |
| 13 Liabilities arising from fixed assets held for sale | 122 | 0 | 0 |
| 14 Other short-term liabilities | 123 | 67.155.478 | 59.064.348 |
| E) ACCRUALS AND DEFERRED INCOME | 124 | 12.104.748 | 12.071.475 |
| F) TOTAL – LIABILITIES (ADP 067+090+097+109+124) | 125 | 2.097.123.729 | 2.082.833.879 |
| G) OFF-BALANCE SHEET ITEMS | 126 | 0 | 0 |
for the period 01.01.2025 to 31.03.2025 STATEMENT OF PROFIT OR LOSS
in EUR
| Submitter: Hrvatski Telekom d.d. | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Item | ADP | Same period of the previous year | Current period | ||||||
| code | Cumulative | Quarter | Cumulative | Quarter | |||||
| 1 | 2 | 3 | 4 | 5 | 6 | ||||
| I OPERATING INCOME (ADP 002 to 006) | 001 | 255.183.428 | 255.183.428 | 268.289.011 | 268.289.011 | ||||
| 1 Income from sales with undertakings within the group 2 Income from sales (outside group) |
002 | 4.940.735 | 4.940.735 | 4.985.666 | 4.985.666 | ||||
| 3 Income from the use of own products, goods and services | 003 004 |
247.783.283 0 |
247.783.283 0 |
262.565.133 0 |
262.565.133 0 |
||||
| 4 Other operating income with undertakings within the group | 005 | 0 | 0 | 0 | 0 | ||||
| 5 Other operating income (outside the group) | 006 | 2.459.410 | 2.459.410 | 738.212 | 738.212 | ||||
| II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029) | 007 | 221.419.613 | 221.419.613 | 234.500.383 | 234.500.383 | ||||
| 1 Changes in inventories of work in progress and finished goods | 008 | 0 | 0 | 0 | 0 | ||||
| 2 Material costs (ADP 010 to 012) | 009 | 78.510.771 | 78.510.771 | 84.198.618 | 84.198.618 | ||||
| a) Costs of raw materials and consumables | 010 | 8.277.461 | 8.277.461 | 8.062.081 | 8.062.081 | ||||
| b) Costs of goods sold c) Other external costs |
011 | 48.960.505 | 48.960.505 | 51.888.632 | 51.888.632 | ||||
| 3 Staff costs (ADP 014 to 016) | 012 013 |
21.272.805 43.391.160 |
21.272.805 43.391.160 |
24.247.905 44.996.685 |
24.247.905 44.996.685 |
||||
| a) Net salaries and wages | 014 | 28.099.029 | 28.099.029 | 29.170.459 | 29.170.459 | ||||
| b) Tax and contributions from salary costs | 015 | 10.256.854 | 10.256.854 | 10.648.450 | 10.648.450 | ||||
| c) Contributions on salaries | 016 | 5.035.277 | 5.035.277 | 5.177.776 | 5.177.776 | ||||
| 4 Depreciation | 017 | 66.663.163 | 66.663.163 | 68.079.754 | 68.079.754 | ||||
| 5 Other costs | 018 | 25.411.577 | 25.411.577 | 27.546.063 | 27.546.063 | ||||
| 6 Value adjustments (ADP 020+021) | 019 | 2.038.946 | 2.038.946 | 1.820.523 | 1.820.523 | ||||
| a) fixed assets other than financial assets | 020 | 0 | 0 | 0 | 0 | ||||
| b) current assets other than financial assets | 021 | 2.038.946 | 2.038.946 | 1.820.523 | 1.820.523 | ||||
| 7 Provisions (ADP 023 to 028) | 022 | 5.403.996 | 5.403.996 | 7.858.740 | 7.858.740 | ||||
| a) Provisions for pensions, termination benefits and similar obligations | 023 | 593.912 | 593.912 | 6.133.261 | 6.133.261 | ||||
| b) Provisions for tax liabilities | 024 | 0 | 0 | 0 | 0 | ||||
| c) Provisions for ongoing legal cases | 025 | 4.595.797 | 4.595.797 | 1.042.743 | 1.042.743 | ||||
| d) Provisions for renewal of natural resources | 026 | 0 | 0 | 0 | 0 | ||||
| e) Provisions for warranty obligations | 027 | 0 | 0 | 0 | 0 | ||||
| f) Other provisions | 028 | 214.287 | 214.287 | 682.736 | 682.736 | ||||
| 8 Other operating expenses | 029 | 0 | 0 | 0 | 0 | ||||
| III FINANCIAL INCOME (ADP 031 to 040) 1 Income from investments in holdings (shares) of undertakings within |
030 | 2.432.748 | 2.432.748 | 1.831.310 | 1.831.310 | ||||
| the group | 031 | 0 | 0 | 0 | 0 | ||||
| 2 Income from investments in holdings (shares) of companies linked by | |||||||||
| virtue of participating interests | 032 | 0 | 0 | 0 | 0 | ||||
| 3 Income from other long-term financial investment and loans granted to | |||||||||
| undertakings within the group | 033 | 1.057.489 | 1.057.489 | 710.591 | 710.591 | ||||
| 4 Other interest income from operations with undertakings within the | 034 | 0 | 0 | 0 | 0 | ||||
| group | |||||||||
| 5 Exchange rate differences and other financial income from operations | 035 | 13.564 | 13.564 | 22.873 | 22.873 | ||||
| with undertakings within the group | |||||||||
| 6 Income from other long-term financial investments and loans | 036 | 77.025 | 77.025 | 167.217 | 167.217 | ||||
| 7 Other interest income | 037 | 858.076 | 858.076 | 397.427 | 397.427 | ||||
| 8 Exchange rate differences and other financial income 9 Unrealised gains (income) from financial assets |
038 | 426.594 | 426.594 | 533.202 | 533.202 | ||||
| 10 Other financial income | 039 040 |
0 0 |
0 0 |
0 0 |
0 0 |
||||
| IV FINANCIAL EXPENSES (ADP 042 to 048) | 041 | 2.423.057 | 2.423.057 | 2.461.592 | 2.461.592 | ||||
| 1 Interest expenses and similar expenses with undertakings within the | |||||||||
| group | 042 | 0 | 0 | 0 | 0 | ||||
| 2 Exchange rate differences and other expenses from operations with | |||||||||
| undertakings within the group | 043 | 14.088 | 14.088 | 10.472 | 10.472 | ||||
| 3 Interest expenses and similar expenses | 044 | 2.033.682 | 2.033.682 | 1.999.702 | 1.999.702 | ||||
| 4 Exchange rate differences and other expenses | 045 | 357.749 | 357.749 | 438.268 | 438.268 | ||||
| 5 Unrealised losses (expenses) from financial assets | 046 | 0 | 0 | 0 | 0 | ||||
| 6 Value adjustments of financial assets (net) | 047 | 1.739 | 1.739 | -3.517 | -3.517 | ||||
| 7 Other financial expenses | 048 | 15.799 | 15.799 | 16.667 | 16.667 | ||||
| V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS |
049 | 0 | 0 | 0 | 0 | ||||
| VI SHARE IN PROFIT FROM JOINT VENTURES | 050 | 0 | 0 | 0 | 0 | ||||
| VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF | |||||||||
| PARTICIPATING INTEREST | 051 | 0 | 0 | 0 | 0 | ||||
| VIII SHARE IN LOSS OF JOINT VENTURES | 052 | 0 | 0 | 0 | 0 | ||||
| IX TOTAL INCOME (ADP 001+030+049 +050) | 053 | 257.616.176 | 257.616.176 | 270.120.321 | 270.120.321 | ||||
| X TOTAL EXPENDITURE (ADP 007+041+051 + 052) | 054 | 223.842.670 | 223.842.670 | 236.961.975 | 236.961.975 | ||||
| XI PRE-TAX PROFIT OR LOSS (ADP 053-054) | 055 | 33.773.506 | 33.773.506 | 33.158.346 | 33.158.346 | ||||
| 1 Pre-tax profit (ADP 053-054) | 056 | 33.773.506 | 33.773.506 | 33.158.346 | 33.158.346 | ||||
| 2 Pre-tax loss (ADP 054-053) | 057 | 0 | 0 | 0 | 0 | ||||
| XII INCOME TAX | 058 | 6.963.822 | 6.963.822 | 6.262.061 | 6.262.061 | ||||
| XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059) | 059 | 26.809.684 | 26.809.684 | 26.896.285 | 26.896.285 | ||||
| 1 Profit for the period (ADP 055-059) 2 Loss for the period (ADP 059-055) |
060 061 |
26.809.684 0 |
26.809.684 0 |
26.896.285 0 |
26.896.285 0 |
||||
| DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations) | |||||
|---|---|---|---|---|---|
| XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS | 062 | 0 | 0 | 0 | 0 |
| (ADP 063-064) 1 Pre-tax profit from discontinued operations |
|||||
| 2 Pre-tax loss on discontinued operations | 063 064 |
0 0 |
0 0 |
0 0 |
0 0 |
| XV INCOME TAX OF DISCONTINUED OPERATIONS | 065 | 0 | 0 | 0 | 0 |
| 1 Discontinued operations profit for the period (ADP 062-065) | 066 | 0 | 0 | 0 | 0 |
| 2 Discontinued operations loss for the period (ADP 065-062) | 067 | 0 | 0 | 0 | 0 |
| TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations) | |||||
| XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062) | 068 | 0 | 0 | 0 | 0 |
| 1 Pre-tax profit (ADP 068) | 069 | 0 | 0 | 0 | 0 |
| 2 Pre-tax loss (ADP 068) | 070 | 0 | 0 | 0 | 0 |
| XVII INCOME TAX (ADP 058+065) | 071 | 0 | 0 | 0 | 0 |
| XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071) 1 Profit for the period (ADP 068-071) |
072 | 0 | 0 | 0 | 0 |
| 2 Loss for the period (ADP 071-068) | 073 074 |
0 0 |
0 0 |
0 0 |
0 0 |
| APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements) | |||||
| XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077) | 075 | 26.809.684 | 26.809.684 | 26.896.285 | 26.896.285 |
| 1 Attributable to owners of the parent | 076 | 26.602.927 | 26.602.927 | 26.596.140 | 26.596.140 |
| 2 Attributable to minority (non-controlling) interest | 077 | 206.757 | 206.757 | 300.145 | 300.145 |
| STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS) | |||||
| I PROFIT OR LOSS FOR THE PERIOD | 078 | 26.809.684 | 26.809.684 | 26.896.285 | 26.896.285 |
| II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87) |
079 | -4.875.766 | -4.875.766 | 826.564 | 826.564 |
| III Items that will not be reclassified to profit or loss (ADP 081 to 085) | 080 | 3.872 | 3.872 | -6.443 | -6.443 |
| 1 Changes in revaluation reserves of fixed tangible and intangible assets | 081 | 0 | 0 | 0 | 0 |
| 2 Gains or losses from subsequent measurement of equity instruments at fair value through other comprehensive income |
082 | 3.872 | 3.872 | -6.443 | -6.443 |
| 3 Fair value changes of financial liabilities at fair value through statement of profit or loss, attributable to changes in their credit risk |
083 | 0 | 0 | 0 | 0 |
| 4 Actuarial gains/losses on the defined benefit obligation | 084 | 0 | 0 | 0 | 0 |
| 5 Other items that will not be reclassified | 085 | 0 | 0 | 0 | 0 |
| 6 Income tax relating to items that will not be reclassified | 086 | 0 | 0 | 0 | 0 |
| IV Items that may be reclassified to profit or loss (ADP 088 to 095) | 087 | -4.879.638 | -4.879.638 | 833.007 | 833.007 |
| 1 Exchange rate differences from translation of foreign operations | 088 | 0 | 0 | 0 | 0 |
| 2 Gains or losses from subsequent measurement of debt securities at fair value through other comprehensive income |
089 | 0 | 0 | 0 | 0 |
| 3 Profit or loss arising from effective cash flow hedging | 090 | -4.879.638 | -4.879.638 | 833.007 | 833.007 |
| 4 Profit or loss arising from effective hedge of a net investment in a foreign operation |
091 | 0 | 0 | 0 | 0 |
| 5 Share in other comprehensive income/loss of companies linked by virtue of participating interests |
092 | 0 | 0 | 0 | 0 |
| 6 Changes in fair value of the time value of option | 093 | 0 | 0 | 0 | 0 |
| 7 Changes in fair value of forward elements of forward contracts | 094 | 0 | 0 | 0 | 0 |
| 8 Other items that may be reclassified to profit or loss | 095 | 0 | 0 | 0 | 0 |
| 9 Income tax relating to items that may be reclassified to profit or loss | 096 | 0 | 0 | 0 | 0 |
| V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- | 097 | -4.875.766 | -4.875.766 | 826.564 | 826.564 |
| 086 - 096) VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097) |
098 | 21.933.918 | 21.933.918 | 27.722.849 | 27.722.849 |
| APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements) | |||||
| VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 100+101) |
099 | 21.933.918 | 21.933.918 | 133.806.531 | 133.806.531 |
| 1 Attributable to owners of the parent | 100 | 21.727.161 | 21.727.161 | 133.506.386 | 133.506.386 |
| 2 Attributable to minority (non-controlling) interest | 101 | 206.757 | 206.757 | 300.145 | 300.145 |
| Submitter: Hrvatski Telekom d.d. | in EUR | ||||
|---|---|---|---|---|---|
| Item | ADP code |
Same period of the previous year |
Current period | ||
| 1 | 2 | 3 | 4 | ||
| Cash flow from operating activities | |||||
| 1 Pre-tax profit | 001 | 33.773.506 | 33.158.347 | ||
| 2 Adjustments (ADP 003 to 010): | 002 | 70.392.878 | 69.124.846 | ||
| a) Depreciation b) Gains and losses from sale and value adjustment of fixed tangible and |
003 | 66.663.163 | 68.079.754 | ||
| intangible assets | 004 | -382.222 | -20.829 | ||
| c) Gains and losses from sale and unrealised gains and losses and value | 005 | -1.116.976 | 0 | ||
| adjustment of financial assets | |||||
| d) Interest and dividend income e) Interest expenses |
006 007 |
-858.076 2.033.682 |
656.021 0 |
||
| f) Provisions | 008 | 4.638.543 | 426.458 | ||
| g) Exchange rate differences (unrealised) | 009 | 11.469 | 0 | ||
| h) Other adjustments for non-cash transactions and unrealised gains and | 010 | -596.705 | -16.558 | ||
| losses | |||||
| I Cash flow increase or decrease before changes in working capital (ADP 001+002) |
011 | 104.166.384 | 102.283.193 | ||
| 3 Changes in the working capital (ADP 013 to 016) | 012 | 5.777.115 | -5.914.278 | ||
| a) Increase or decrease in short-term liabilities | 013 | 7.172.551 | -9.109.665 | ||
| b) Increase or decrease in short-term receivables | 014 | 13.710.488 | 9.141.258 | ||
| c) Increase or decrease in inventories | 015 | -11.978.307 | -3.564.703 | ||
| d) Other increase or decrease in working capital | 016 | -3.127.617 | -2.381.168 | ||
| II Cash from operations (ADP 011+012) | 017 | 109.943.499 | 96.368.915 | ||
| 4 Interest paid | 018 | -1.793.036 | -1.343.180 | ||
| 5 Income tax paid | 019 | -10.604.210 | -9.429.458 | ||
| A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019) | 020 | 97.546.253 | 85.596.277 | ||
| Cash flow from investment activities | |||||
| 1 Cash receipts from sales of fixed tangible and intangible assets | 021 | 0 | 2.100 | ||
| 2 Cash receipts from sales of financial instruments | 022 | 0 | 61.691 | ||
| 3 Interest received | 023 | 2.189.395 | 1.278.026 | ||
| 4 Dividends received | 024 | 0 | 0 | ||
| 5 Cash receipts from repayment of loans and deposits 6 Other cash receipts from investment activities |
025 026 |
-580.572 23.226 |
0 121.741 |
||
| III Total cash receipts from investment activities (ADP 021 to 026) | 027 | 1.632.049 | 1.463.558 | ||
| 1 Cash payments for the purchase of fixed tangible and intangible assets | 028 | -60.506.280 | -56.828.738 | ||
| 2 Cash payments for the acquisition of financial instruments | 029 | 0 | 582 | ||
| 3 Cash payments for loans and deposits for the period | 030 | 0 | 0 | ||
| 4 Acquisition of a subsidiary, net of cash acquired | 031 | 0 | 0 | ||
| 5 Other cash payments from investment activities | 032 | 274.923 | -436.814 | ||
| IV Total cash payments from investment activities (ADP 028 to 032) | 033 | -60.231.357 | -57.264.970 | ||
| B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033) | 034 | -58.599.308 | -55.801.412 | ||
| Cash flow from financing activities | |||||
| 1 Cash receipts from the increase in initial (subscribed) capital | 035 | 0 | 0 | ||
| 2 Cash receipts from the issue of equity financial instruments and debt | 036 | 0 | 0 | ||
| financial instruments 3 Cash receipts from credit principals, loans and other borrowings |
037 | 0 | 0 | ||
| 4 Other cash receipts from financing activities | 038 | 0 | 0 | ||
| V Total cash receipts from financing activities (ADP 035 to 038) | 039 | 0 | 0 | ||
| 1 Cash payments for the repayment of credit principals, loans and other | |||||
| borrowings and debt financial instruments | 040 | 0 | 0 | ||
| 2 Cash payments for dividends | 041 | -14.423 | -39.407 | ||
| 3 Cash payments for finance lease | 042 | -11.413.212 | -12.304.233 | ||
| 4 Cash payments for the redemption of treasury shares and decrease in | 043 | -1.590.275 | -16.898.861 | ||
| initial (subscribed) capital 5 Other cash payments from financing activities |
044 | -8.785.304 | -22.298.326 | ||
| VI Total cash payments from financing activities (ADP 040 to 044) | 045 | -21.803.214 | -51.540.827 | ||
| C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045) | 046 | -21.803.214 | -51.540.827 | ||
| 1 Unrealised exchange rate differences in respect of cash and cash equivalents |
047 | 0 | 0 | ||
| D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047) |
048 | 17.143.731 | -21.745.962 | ||
| E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD |
049 | 233.077.904 | 229.658.237 | ||
| F) CASH AND CASH EQUIVALENTS AT THE END OF THE | 050 | 250.221.635 | 207.912.275 | ||
| PERIOD(ADP 048+049) |
STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2025 to 31.03.2025
for the period 01.01.2025 to 31.03.2025 STATEMENT OF CASH FLOWS - direct method
in EUR
| Submitter: Hrvatski Telekom d.d. | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Item | ADP | Same period of the | Current period | |||||||
| 1 | code 2 |
previous year 3 |
4 | |||||||
| Cash flow from operating activities | ||||||||||
| 1 Cash receipts from customers | 001 | 0 | 0 | |||||||
| 2 Cash receipts from royalties, fees, commissions and other revenue | 002 | 0 | 0 | |||||||
| 3 Cash receipts from insurance premiums | 003 | 0 | 0 | |||||||
| 4 Cash receipts from tax refund | 004 | 0 | 0 | |||||||
| 5 Other cash receipts from operating activities | 005 | 0 | 0 | |||||||
| I Total cash receipts from operating activities (ADP 001 to 005) | 006 | 0 | 0 | |||||||
| 1 Cash payments to suppliers | 007 | 0 | 0 | |||||||
| 2 Cash payments to employees | 008 | 0 | 0 | |||||||
| 3 Cash payments for insurance premiums | 009 | 0 | 0 | |||||||
| 4 Interest paid | 010 | 0 | 0 | |||||||
| 5 Income tax paid | 011 | 0 | 0 | |||||||
| 6 Other cash payments from operating activities | 012 | 0 | 0 | |||||||
| II Total cash payments from operating activities (ADP 007 to 012) | 013 | 0 | 0 | |||||||
| A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 006 + 013) | 014 | 0 | 0 | |||||||
| Cash flow from investment activities | ||||||||||
| 1 Cash receipts from sales of fixed tangible and intangible assets | ||||||||||
| 015 | 0 | 0 | ||||||||
| 2 Cash receipts from sales of financial instruments | 016 | 0 | 0 | |||||||
| 3 Interest received | 017 | 0 | 0 | |||||||
| 4 Dividends received | 018 | 0 | 0 | |||||||
| 5 Cash receipts from the repayment of loans and deposits | 019 | 0 | 0 | |||||||
| 6 Other cash receipts from investment activities | 020 | 0 | 0 | |||||||
| III Total cash receipts from investment activities (ADP 015 to 020) | 021 | 0 | 0 | |||||||
| 1 Cash payments for the purchase of fixed tangible and intangible assets |
022 | 0 | 0 | |||||||
| 2 Cash payments for the acquisition of financial instruments | 023 | 0 | 0 | |||||||
| 3 Cash payments for loans and deposits | 024 | 0 | 0 | |||||||
| 4 Acquisition of a subsidiary, net of cash acquired | 025 | 0 | 0 | |||||||
| 5 Other cash payments from investment activities | 026 | 0 | 0 | |||||||
| IV Total cash payments from investment activities (ADP 022 to 026) | 027 | 0 | 0 | |||||||
| B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 021 + 027) | 028 | 0 | 0 | |||||||
| Cash flow from financing activities 1 Cash receipts from the increase in initial (subscribed) capital |
029 | 0 | 0 | |||||||
| 2 Cash receipts the from issue of equity financial instruments and debt | ||||||||||
| financial instruments | 030 | 0 | 0 | |||||||
| 3 Cash receipts from credit principals, loans and other borrowings | 031 | 0 | 0 | |||||||
| 4 Other cash receipts from financing activities | 032 | 0 | 0 | |||||||
| V Total cash receipts from financing activities (ADP 029 to 032) | 033 | 0 | 0 | |||||||
| 1 Cash payments for the repayment of credit principals, loans andother borrowings and debt financial instruments |
034 | 0 | 0 | |||||||
| 2 Cash payments for dividends | 035 | 0 | 0 | |||||||
| 3 Cash payments for finance lease | 036 | 0 | 0 | |||||||
| 4 Cash payments for the redemption of treasury shares and decrease in | 037 | 0 | 0 | |||||||
| initial (subscribed) capital | ||||||||||
| 5 Other cash payments from financing activities | 038 | 0 | 0 | |||||||
| VI Total cash payments from financing activities (ADP 034 to 038) | 039 | 0 | 0 | |||||||
| C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 033 +039) | 040 | 0 | 0 | |||||||
| 1 Unrealised exchange rate differences in respect of cash and cash equivalents |
041 | 0 | 0 | |||||||
| D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 014 + 028 + 040 + 041) |
042 | 0 | 0 | |||||||
| E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD |
043 | 0 | 0 | |||||||
| F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (042+043) |
044 | 0 | 0 |
| STAT EME NT O F CH for th iod fr 01.01 .2025 to e per om |
ANG ES IN 31.03 .2025 |
EQU ITY |
in EU R |
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Attribu table to |
s of the parent owner |
||||||||||||||||||
| ADP | Treasu ry shar es and |
Fair va lue of financi al asse ts |
Hedge of a ne t |
Exchan ge rate |
Retaine d profi t / |
Total a ttributa ble to |
Minorit y (non |
Total c apital a nd |
|||||||||||
| Item | code | Initial ( subscr ibed) capital |
Capita l reserv es |
Legal r eserve s |
es for treasu Reserv ry shar es |
holding s (deduc |
Statuto ry rese rves |
Other r eserve s |
Revalu ation reserve s |
throug h other hensiv compre e |
Cash f low he dge - effectiv e porti on |
investm ent in a foreign operat ion - |
Other f air valu e reserve s |
differe nces fr om transla tion of |
loss br ought |
Profit/l oss for the busine ss yea r |
of the owners |
controll ing) interes t |
reserve s |
| tible ite m) |
(availa income ble for sale ) |
effectiv e porti on |
foreign operat ions |
forwar d |
parent | ||||||||||||||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 (3 to 6 - 7 + 8 to |
19 | 20 (18+ 19) |
| Previo us peri od |
17) | ||||||||||||||||||
| 1 Balan ce on t he first day of the pr evious busine ss yea r 2 Chan ges in a ccounti ng polic ies |
01 02 |
1.359.7 42.172 0 |
0 67.987 .109 0 0 |
21.226 .328 0 |
22.169 .750 0 |
0 0 |
597.524 0 |
0 0 |
11.737 0 |
-171.55 1 0 |
0 0 |
0 0 |
0 99.300 .197 0 0 |
132.029 .172 0 |
1.658.5 52.938 0 |
32.938 .600 0 |
1.691.4 91.538 0 |
||
| 3 Corre ction of errors |
03 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 4 Balan ce on t he first day of the pr evious busine r (resta ted) (A DP 01 t ss yea o 03) |
04 | 1.359.7 42.172 |
0 67.987 .109 |
21.226 .328 |
22.169 .750 |
0 | 597.524 | 0 | 11.737 | -171.55 1 |
0 | 0 | 0 99.300 .197 |
132.029 .172 |
1.658.5 52.938 |
32.938 .600 |
1.691.4 91.538 |
||
| 5 Profit /loss of the pe riod 6 Exch te differ ences f rom tra nslation of fore rations |
05 | 0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
141.869 .392 0 |
141.869 .392 0 |
1.326.7 89 0 |
143.196 .181 0 |
||
| ign ope ange ra 7 Chan ges in r evaluat ion rese rves of fixed ta ngible a nd intan gible as sets |
06 07 |
0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 8 Gains es from ent of f at fair or loss subseq uent me inancia l assets value asurem through other c ompreh ensive income (availa ble for s ale) |
08 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 7.720 | 0 | 0 | 0 | 0 0 |
0 | 7.720 | 0 | 7.720 | ||
| 9 Profit or loss arising from e ffective cash fl ow hed ge |
09 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | -8.412. 246 |
0 | 0 | 0 0 |
0 | -8.412. 246 |
0 | -8.412. 246 |
||
| 10 Prof it or los s arisin g from effectiv e hedg e of a n et inves tment in a forei ration gn ope |
10 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 11 Sha re in ot her com prehen sive inc ome/los s of com panies linked b y virtue of particip ating in terests |
11 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 12 Actu arial ga ins/loss es on th e define d benef it obliga tion |
12 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 13 Othe r chang es in eq uity unr elated t o owne rs 14 Tax on tran saction nised d irectly i n equity s recog |
13 14 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
-265.75 4 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 41.519 0 0 |
0 0 |
-224.23 5 0 |
0 0 |
-224.23 5 0 |
||
| 15 Dec rease in initial ( subscri bed) ca pital (ot her tha n arisin g from the pre -bankru ptcy |
15 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| settlem cedure or from the rei ent of p rofit) ent pro nvestm |
|||||||||||||||||||
| 16 Dec rease in initial ( subscri bed) ca pital ari sing fro m the p re-bank ruptcy s ettleme nt proced ure |
16 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 17 Dec rease in initial ( subscri bed) ca pital ari sing fro m the r einvest ment of profit |
17 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 18 Red emption of trea sury sh ares/ho ldings |
18 | 0 | 0 0 |
0 | 28.744 .606 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | -28.744 .606 |
-311.75 1 |
-29.056 .357 |
||
| 19 Pay ments f mbers/s hareho lders rom me 20 Pay ment of share in profit /dividen d |
19 20 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 -119.20 9.808 |
0 -119.20 9.808 |
0 -1.214. 469 |
0 -120.42 4.277 |
||
| 21 Othe r distrib utions a nd paym ents to membe rs/share holders |
21 | 0 | 0 0 |
-20.280 .039 |
-21.261 .596 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 -981.55 7 |
0 | 0 | 0 | 0 | ||
| sfer to 22 Tran ding to the ann ual sch edule reserve s accor 23 Incr ease in es arisi ng from the pre -bankru ptcy se ttlemen t proce dure reserv |
22 23 |
0 0 |
0 0 0 0 |
27.632 .837 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 -14.813 .473 0 0 |
-12.819 .364 0 |
0 0 |
0 0 |
0 0 |
||
| 24 Bala the las t day o f the p revious busine ting pe riod (A DP nce on ss yea r repor 04 to 2 |
24 | 1.359.7 42.172 |
0 67.987 .109 |
28.579 .126 |
29.652 .760 |
0 | 331.77 0 |
0 | 19.457 | -8.583. 797 |
0 | 0 | 0 83.546 .686 |
141.869 .392 |
1.643.8 39.155 |
32.739 .169 |
1.676.5 78.324 |
||
| 3) APPEN DIX TO THE S TATEM ENT O F CHA NGES IN EQU ITY (to be fille d in by under |
takings that d |
financ ial stat raw up |
ements in acc ordanc |
e with the IFR S) |
|||||||||||||||
| I OTH ER CO MPREH ENSIVE INCOM E OF T HE PR EVIOU S PERI OD, NE T OF T AX (ADP 0 6 to 14 ) |
25 | 0 | 0 0 |
0 | 0 | 0 | -265.75 4 |
0 | 7.720 | -8.412. 246 |
0 | 0 | 0 41.519 |
0 | -8.628. 761 |
0 | -8.628. 761 |
||
| II COM NSIVE INCOM E OR L OSS FO PREVIO US PER IOD (AD PREHE R THE P |
|||||||||||||||||||
| 05+25) | 26 | 0 | 0 0 |
0 | 0 | 0 | -265.75 4 |
0 | 7.720 | -8.412. 246 |
0 | 0 | 0 41.519 |
141.869 .392 |
133.240 .631 |
1.326.7 89 |
134.567 .420 |
||
| III TRA NSACT IONS W ITH OW NERS I N THE PREVIO US PER IOD RE COGNI SED DIREC TLY IN EQUIT Y (ADP 15 to 2 3) |
27 | 0 | 0 0 |
7.352.7 98 |
7.483.0 10 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 -15.795 .030 |
-132.02 9.172 |
-147.95 4.414 |
-1.526. 220 |
-149.48 0.634 |
||
| Curren t perio d |
|||||||||||||||||||
| 1 Balan he first day of the cu rrent b usines ce on t s year 2 Chan ges in a ccounti ng polic ies |
28 29 |
1.359.7 42.172 0 |
0 67.987 .109 0 0 |
28.579 .126 0 |
29.652 .760 0 |
0 0 |
331.77 0 0 |
0 0 |
19.457 0 |
-8.583. 797 0 |
0 0 |
0 0 |
0 83.546 .686 0 0 |
141.869 .392 0 |
1.643.8 39.155 0 |
32.739 .169 0 |
1.676.5 78.324 0 |
||
| 3 Corre ction of errors |
30 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 4 Balan ce on t he first day of the cu rrent b usines (restate d) (AO P 28 to 30) s year |
31 | 1.359.7 42.172 |
0 67.987 .109 |
28.579 .126 |
29.652 .760 |
0 | 331.77 0 |
0 | 19.457 | -8.583. 797 |
0 | 0 | 0 83.546 .686 |
141.869 .392 |
1.643.8 39.155 |
32.739 .169 |
1.676.5 78.324 |
||
| 5 Profit /loss of the pe riod |
32 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
26.596 .140 |
26.596 .140 |
300.14 5 |
26.896 .285 |
||
| te differ ences f of fore 6 Exch rom tra nslation ign ope rations ange ra |
33 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 7 Chan ges in r evaluat ion rese rves of fixed ta ngible a nd intan gible as sets 8 Gains es from ent of f at fair |
34 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| or loss subseq inancia l assets value uent me asurem through other c ompreh ensive income (availa ble for s ale) |
35 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | -6.443 | 0 | 0 | 0 | 0 0 |
0 | -6.443 | 0 | -6.443 | ||
| 9 Profit or loss arising from e ffective cash fl ow hed ge |
36 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 833.00 7 |
0 | 0 | 0 0 |
0 | 833.00 7 |
0 | 833.00 7 |
||
| 10 Prof it or los s arisin g from effectiv e hedg e of a n et inves tment in a forei ration gn ope |
37 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 11 Sha re in ot her com prehen sive inc ome/los s of com panies linked b y virtue of particip ating in terests |
38 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 12 Actu arial ga ins/loss es on th e define d benef it obliga tion |
39 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 13 Othe r chang es in eq uity unr elated t o owne rs 14 Tax saction nised d irectly i n equity on tran s recog |
40 41 |
0 0 |
0 0 0 0 |
0 0 |
2 0 |
0 0 |
21.151 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 |
21.149 0 |
0 0 |
21.149 0 |
||
| 15 Dec rease in initial ( subscri bed) ca pital (ot her tha n arisin g from the pre -bankru ptcy settlem ent pro cedure or from the rei nvestm ent of p rofit) |
42 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 16 Dec rease in initial ( subscri bed) ca pital ari sing fro m the p re-bank ruptcy s ettleme nt |
43 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| proced ure 17 Dec rease in subscri m the r einvest ment of profit |
44 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| initial ( bed) ca pital ari sing fro 18 Red emption of trea sury sh ares/ho ldings |
45 | 0 | 0 0 |
0 | 16.898. 860 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | -16.898 .860 |
0 | -16.898 .860 |
||
| 19 Pay ments f mbers/s hareho lders rom me |
46 | 0 | 0 0 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 0 |
0 | 0 | 0 | 0 | ||
| 20 Pay ment of share in profit /dividen d 21 Othe rs/share r distrib utions a nd paym ents to membe holders |
47 48 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| 22 Carr yforwar d per a nnual p lane 23 Incr ease in es arisi ng from the pre -bankru ttlemen dure |
49 50 |
0 0 |
0 0 0 0 |
16.898. 860 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
0 124.970 .532 0 0 |
-141.86 9.392 0 |
0 0 |
0 0 |
0 0 |
||
| ptcy se t proce reserv 24 Bala the las t day o f the cu rrent b usines reporti iod (A DP nce on s year ng per |
51 | 1.359.7 42.172 |
0 67.987 .109 |
45.477 .986 |
46.551 .622 |
0 | 352.92 1 |
0 | 13.014 | -7.750. 790 |
0 | 0 | 0 208.51 7.218 |
26.596 .140 |
1.654.3 84.148 |
33.039 .314 |
1.687.4 23.462 |
||
| 31 to 5 0) APPEN DIX TO THE S TATEM ENT O F CHA NGES IN EQU ITY (to be fille d in by under |
takings that d |
financ ial stat raw up |
ements in acc ordanc |
e with the IFR S) |
|||||||||||||||
| I OTH ER CO MPREH ENSIVE INCOM E FOR THE C URREN T PERI OD, NE T OF |
52 | 0 | 0 0 |
0 | 2 | 0 | 21.151 | 0 | -6.443 | 833.00 7 |
0 | 0 | 0 0 |
0 | 847.71 3 |
0 | 847.71 3 |
||
| TAX (A DP 33 t o 41) |
|||||||||||||||||||
| II COM PREHE NSIVE INCOM E OR L OSS FO R THE CURRE NT PER IOD (AD P 32 do 52) |
53 | 0 | 0 0 |
0 | 2 | 0 | 21.151 | 0 | -6.443 | 833.00 7 |
0 | 0 | 0 0 |
26.596 .140 |
27.443 .853 |
300.14 5 |
27.743 .998 |
||
| III TRA NSACT IONS W ITH OW NERS I N THE CURRE NT PER IOD RE COGNI SED DIREC TLY IN EQUIT Y (AD P 42 to 50) |
54 | 0 | 0 0 |
16.898. 860 |
16.898. 860 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 124.970 .532 |
-141.86 9.392 |
-16.898 .860 |
0 | -16.898 .860 |
NOTES TO FINANCIAL STATEMENTS - TFI
(drawn up for quarterly reporting periods)
Name of the issuer: _______________________________________________________
Personal identification number (OIB): ________________________________________________________ Reporting period: _____________________________________________
Notes to financial statements for quarterly periods include:
a) explanation of business events relevant to understanding changes in the statement of financial position and financial performance for the reporting semi-annual period of the issuer with respect to the last business year: information is provided regarding these events and relevant information published in the last annual financial statement is updated (items 15 to 15C IAS 34 - Interim financial reporting)
b) information on the access to the latest annual financial statements, for the purpose of understanding information published in the notes to financial statements drawn up for the semi-annual reporting period
c) a statement explaining that the same accounting policies are applied while drawing up financial statements for the semi-annual reporting period as in the latest annual financial statements or, in the case where the accounting policies have changed, a description of the nature and effect of the changes (item 16.A (a) IAS 34 - Interim financial reporting)
d) a description of the financial performance in the case of the issuer whose business is seasonal (items 37 and 38 IAS 34 - Interim financial reporting)
e) other comments prescribed by IAS 34 - Interim financial reporting f) in the notes to quarterly periods financial statements, in addition to the information stated above, information in respect of the following matters shall be disclosed:
-
undertaking's name, registered office (address), legal form, country of establishment, entity's registration number and, if applicable, the indication whether the undertaking is undergoing liquidation, bankruptcy proceedings, shortened termination proceedings or extraordinary administration
-
adopted accounting policies (only an indication of whether there has been a change from the previous period)
-
the total amount of any financial commitments, guarantees or contingencies that are not included in the balance sheet, and an indication of the nature and form of any valuable security which has been provided; any commitments concerning pensions of the undertaking within the group or company linked by virtue of participating interest shall be disclosed separately
-
the amount and nature of individual items of income or expenditure which are of exceptional size or incidence
-
amounts owed by the undertaking and falling due after more than five years, as well as the total debts of the undertaking covered by valuable security furnished by the undertaking, specifying the type and form of security
-
average number of employees during the financial year
-
where, in accordance with the regulations, the undertaking capitalised on the cost of salaries in part or in full, information on the amount of the total cost of employees during the year broken down into the amount directly debiting the costs of the period and the amount capitalised on the value of the assets during the period, showing separately the total amount of net salaries and the amount of taxes, contributions from salaries and contributions on salaries 8. where a provision for deferred tax is recognised in the balance sheet, the deferred tax balances at the end of the financial year, and the movement in those balances during the financial year
-
the name and registered office of each of the undertakings in which the undertaking, either itself or through a person acting in their own name but on the undertaking's behalf, holds a participating interest, showing the proportion of the capital held, the amount of capital and reserves, and the profit or loss for the latest financial year of the undertaking concerned for which financial statements have been adopted; the information concerning capital and reserves and the profit or loss may be omitted where the undertaking concerned does not publish its balance sheet and is not controlled by another undertaking
-
the number and the nominal value or, in the absence of a nominal value, the accounting par value of the shares subscribed during the financial year within the limits of the authorised capital 11. the existence of any participation certificates, convertible debentures, warrants, options or similar securities or rights, with an indication of their number and the rights they confer
-
the name, registered office and legal form of each of the undertakings of which the undertaking is a member having unlimited liability
-
the name and registered office of the undertaking which draws up the consolidated financial statements of the largest group of undertakings of which the undertaking forms part as a controlled group member 14. the name and registered office of the undertaking which draws up the consolidated financial statements of the smallest group of undertakings of which the undertaking forms part as a controlled group member and which is also included in the group of undertakings referred to in point 13
-
the place where copies of the consolidated financial statements referred to in points 13 and 14 may be obtained, provided that they are available
-
the nature and business purpose of the undertaking's arrangements that are not included in the balance sheet and the financial impact on the undertaking of those arrangements, provided that the risks or benefits arising from such arrangements are material and in so far as the disclosure of such risks or benefits is necessary for the purposes of assessing the financial position of the undertaking
-
the nature and the financial effect of material events arising after the balance sheet date which are not reflected in the profit and loss account or balance sheet