HT Sees Continuous Growth in the First Nine Months of 2025

Hrvatski Telekom maintained its growth trajectory. The largest Croatian operator reported a 4% YoY revenue growth in the first nine months of 2025.

The company stated that the growth was supported by positive business developments across mobile and fixed service revenues, as well as the profitable system solutions business. Adjusted EBITDA AL grew by 3.2%, driven by solid top-line performance and ongoing transformation of the operating model, which helped offset persistent costs and inflationary-related pressures. Net profit after non-controlling interests grew by 4.8%, with growth in adjusted EBITDA AL partly offset by increased depreciation and a weaker net financial result. Investments in the period reached €181.7 million, up by 12.9% from the prior year.

HT said it has continued to expand its FTTH network in Croatia, increasing its footprint and bringing high‑speed connectivity nationwide, including rural areas. The company remains on track to enable gigabit fiber speeds to 1 million households and businesses in Croatia by year-end. Upgrades and optimization of 5G networks have further enhanced mobile network performance, especially during the network-intensive summer months, ensuring a consistently top-quality customer experience. Investments in the critical infrastructure remain essential for the company and the country’s economic growth and broader digital transformation.

Hrvatski Telekom has raised its investment outlook to accelerate fiber rollout, targeting FTTH coverage of 1 million households and businesses by year-end. Consequently, the company now expects CAPEX After Leases to increase around 10% year-over-year, compared to its previous guidance of low single-digit growth. The remainder of the guidance is reaffirmed, with HT continuing to expect low single-digit growth in both revenue and EBITDA after leases. The Company’s approach to regional expansion remains unchanged, as it continues to evaluate potential M&A opportunities.

“In the first nine months of the year, we continued to deliver strong results across key business areas, with the transformation of our operating model positively impacting our performance. Our investments in key infrastructure, innovative technologies, and customer experience are more than business decisions. They are an investment in the country’s economic growth and social progress. Even in a challenging environment, we remain focused on our mission: to connect Croatia and contribute to a more digital and productive, inclusive, and technologically more advanced society,” said Nataša Rapaić, CEO of Hrvatski Telekom.