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News

SARAJEVO: BH TELECOM INCREASES REVENUES AND STILL REMAINS LEADER IN FIELD OF DIGITALIZATION FBIH








SARAJEVO, JULY 27 (ONASA) – A press conference was held at the premises of BH Telecom where the financial operations of BH Telecom in 2023 and operations in the first quarter of 2024 were presented, as well as the activity plans and plans of the corporation for the next period.
The Prime Minister of the Government of the Federation of Bosnia and Herzegovina, Nermin Nikšić, addressed the media present and said: “The Management and Supervisory Board of BH Telecom face serious challenges, but also a firm determination to find systemic solutions in order for this company to become long-term sustainable, highly profitable, and ensure its position in the construction of digital BiH. society. The vision of the new management is for BH Telecom to be the leading digital integrator of BH. society, to which the FBiH Government will give its full support”.
The Prime Minister of the Federation of Bosnia and Herzegovina, Nermin Nikšić, stated that BH Telecom is a national state company, the company of all citizens of the Federation of Bosnia and Herzegovina, and because of this, they feel a certain emotional relationship towards this company.
“What is important to mention and what should be known is that in the last 10 years, through its operations, BH Telecom has paid over one and a half billion BAM into various self-government budgets when it comes to the state of Bosnia and Herzegovina, but because of this, it has not damaged in any way some kind of investment cycles – over 800 million were invested through various projects, important and essential for the development of BH Telecom and the network and all those segments about which the director can speak better and more expertly than I, said Nikšić and noted that during that period one should certainly appreciate the which BH Telecom, as a socially responsible company, did through its sponsoring and donor campaigns when it comes to sports, culture, art…
“These are all areas that were supported by BH Telecom, Nikšić said.
The Prime Minister of FBiH also stated that the Government of the Federation sees BH Telecom as a leader in the development of further digitization of the Federation of Bosnia and Herzegovina and that he is sure that BH Telecom can do it with its professional capacities and potential and that it will certainly justify it in the coming period.
“That we are right was shown by the situation of failure in the power system, when there was a power outage in the entire region, but BH Telecom ensured that the mobile network was functioning. Imagine the panic that would have arisen if there were no mobile telephony and signal, Nikšić said.
Financial results of 2023
In 2023, BH Telecom generated a total income of BAM 530.5 million, which is a growth of 20.5 million BAM or 4% compared to the year earlier and was achieved in the amount of the plan for 2023.
The realized gross profit of BH Telecom for 2023 amounts to BAM 52.7 million and is 8.4 million BAM or 14% compared to last year and 3.6 million or 6% smaller than planned.
EBITDA has been achieved in the amount of BAM 147.8 million and increased by 1% compared to the year before.
BH Telecom’s income in 2023 is the primary result of increasing the salary of employees due to harmonization of the baseline in accordance with the collective agreement, and which resulted in increasing costs by BAM 12.8 million.
In addition, the new administration is, with the aim of presenting the objective financial situation of the company performed a detailed analysis of existing funds and liabilities, contracts, in accordance with the recommendations of the auditor and international accounting standards identified the need for additional provisions in the amount of 5.4 million BAM.
Also, funds were identified that had previously met the conditions for putting into use and their activation was performed, which, with new purchases, resulted in the growth of depreciation costs by BAM 4.0 million.
In addition, the value of the software was reduced by 1.0 million BAM, which was determined not to provide all functionalities.
Dividend payment to shareholders
This year, a total of 70 million BAM dividends, I BAM 73 million, will be paid to the majority of the majority owner, the Government of the FBiH and 7 million BAM to small shareholders.
Encouraging financial results of business in the first five months of this year
At the press conference acting general manager of BH Telecom, Mr. Amel Kovačević presented positive financial indicators in the current 2024.
The realized gross profit for the quarter of this year is 13.6 million BAM and is higher by BAM 3.7 million or 37% compared to gross profit last year.
The realized gross profit margin was 10.33%, increased by 27.4% compared to the same period last year, while EBITDA margin is 27.5% and compared to the same period last year by 2.2% . Total expenditures in the quarter were realized in the amount of BAM 118.4 million, which is 5.6 million BAM or 5% in relation to the realization from the same period 2023
“BH Telecom achieved total revenues in the amount of 223.4 million BAM in the first five months of this year, who were 14.4 million BAM or 7% higher than in the same period in 2023,” Amel Kovacevic pointed out , V.D. general manager of BH Telecom.
Key management of BH Telecom 2024/2025
In the part of its presentation related to business plans in the coming period, Mr. Kovačević emphasized that the strategic commitment of BH Telecom is a continuous investment in the quality of the infrastructure, as well as the necessary expansion of the mobile network and prepare for the basis for the future and enables long-term growth of the corporation.
“BH Telecom will spend three key activities in the coming period to ensure long-term market sustainability; The first reorganization of the corporation that will bring us closer to the market and to our customers, and will be implemented by the end of 2024, the second activity relates to the expansion of the broadband optical network and expand the capacity of the mobile network to be connected to quality internet and third It refers to digital development and innovative solutions. Vision to become a leading digital integrator bh. The company is indeed ambitious and obliges us to build strategic partnerships with the public and private sectors in Bosnia and Herzegovina but also broader, and all in order to create platforms that will enable the establishment of a digital society, Amel Kovacevic emphasized, V.D. general manager of BH Telecom. (end)