Planned net profit for is year is EUR 50 million

Planned net profit for this year is EUR 50 million Ljubljana, 25 April Yesterday the Telekom Slovenije Supervisory Board met at its last meeting in this term. The current term of the Supervisory Board members to represent capital ends tomorrow, on 26 April. As already known, in February the General Meeting of the corporation appointed new members of the Supervisory Board to represent capital. Members of the new Supervisory Board are Adolf Zupan, Bernarda Babi , Borut Jamnik and Toma Berlo nik. Two chairs in the Supervisory Board remain unoccupied at least until the next General Meeting, which is planned for 20 June, since two of the appointed members resigned immediately after the General Meeting.

The Telekom Slovenije Supervisory Board discussed and confirmed the company's and group's audited business report. The results do not differ significantly from the already published unaudited business results. In 2012 the Telekom Slovenije Group generated EUR 793.1 million in operating revenues in 2012, a decrease of 4% compared with 2011. The drop in operating revenues was expected due to the adverse economic conditions and general negative trends in the fixed and mobile telephony segments. The Telekom Slovenije Group nevertheless generated a net profit of EUR 43.7 million, an increase of 28% or EUR 9.7 million on 2011. Net profit also exceeds the forecast and is the result of measures adopted with the aim of optimising operations. EBIT was EUR 62.5 million, which is down by EUR 0.7 million on 2011. EBITDA reached EUR 241.6 million or 30.5% of operating revenues. Investments in fixed assets were EUR 128.1 million.

Important data for the long term stability of operations is also the reduction of debt of Telekom Slovenije. Larger loans debited to the company were hired in the period of economic expansion before the current crisis, when business was expanded to foreign markets. Last year the net financial debt was reduced by no less than 15 per cent or EUR 58.3 million. At the end of the year the net financial debt was EUR 330.3 million.

In the Telekom Slovenije Group they are planning a net profit of EUR 50 million in 2013, the EBITDA will be up to EUR 245 million, while there will be around EUR 130 million earmarked for investments in fixed assets.

Members of the Telekom Slovenije Supervisory Board in the present composition were Toma Berginc, MSc, Toma Kalin, PhD, Marko Ho evar, PhD, Jaro Berce, PhD, Nata a telcer, MSc, and Franci Mugerle as representatives of capital, and Milan Richter, Brane Sparavec and Martin Gori ek as the representatives of the employees. At the end of the term the president of the Supervisory Board, Toma Berginc, emphasised: I can evaluate the work of this supervisory board as very good. We have worked in time of the most difficult economic situation in the history of the independent Slovenia and have been rectifying the consequences of certain management decisions from the previous terms. We have triggered and co-created some of the milestones which are important for Telekom Slovenije as well as its entire group. With this I mean mainly the merger of Telekom Slovenije and Mobitel, which was a nut too tough for all our predecessors, we have taken up restructuring of the business processes, consolidation of individual companies of the group, and numerous other measures for achieving a most efficient operation. True, we wanted more, but if considered objectively, in the given general economic situation and in the industry, we have turned the path of the Telekom Slovenije Group in the right direction. This is owing to significant endeavours by the members of the Supervisory Board, as well as the Management Board and the management of Telekom Slovenije, with whom we have constructively cooperated.

LINK:	http://en.telekom.si/company/press-releases/article?aid=2572...
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