Strong Network Investments and Digital Services Drive HT's Growth

Hrvatski Telekom closed the past year with strong investments and stable growth, and according to Nataša Rapaić, President of the Management Board and CEO, the company intends to continue on that path. The operator’s strategic priorities remain the expansion of fiber and mobile infrastructure, the growth of ICT services, and the use of artificial intelligence to optimise operations and create new value for customers.

Rapaić notes that 2025 was a particularly successful year despite a challenging macroeconomic environment marked by inflation and ongoing pressure on global supply chains. Growth in both revenue and EBITDA enabled additional investments in infrastructure and digital capabilities.

“2025 was a successful year for Hrvatski Telekom. Thanks to revenue growth and strong operational performance, we achieved record investments, which increased by more than ten percent year-on-year,” Rapaić says. She adds that such investments are critical not only for the company’s performance but also for the broader development of Croatia’s digital infrastructure.

According to Rapaić, total investments of roughly €264 million provide a strong starting point for the coming year. “These investments give us a very solid position for 2026. We expect to continue growing revenues by around three percent while further improving the balance between indirect costs and revenues,” she explains.

Fiber infrastructure remains the company’s primary investment focus, although mobile networks will receive additional attention going forward. “Over the past few years, we have invested heavily in fiber, and that will continue, but we will now also put greater emphasis on mobile infrastructure. This is essential for maintaining our leading market position and delivering the best possible customer experience,” Rapaić says.

The rapid growth of data consumption reinforces the importance of mobile networks. “Our role is to meet customer needs, and demand for data transport continues to grow rapidly. Mobile traffic increases by around thirty percent every year. Each new generation of technology brings improvements, but the key question is how to monetise those investments effectively,” Rapaić explains.

One example of this approach is the company’s private 5G network project at the Port of Rijeka, which has already received recognition at the European level. “That project clearly demonstrates how a standalone 5G network in an isolated environment can deliver operational efficiencies and reduce the need for additional infrastructure for end users,” Rapaić notes.

A similar concept is being applied to digital infrastructure projects in the aviation sector. “We are now implementing a project across three airports – Zagreb, Zadar, and Pula – co-financed by the European Union. These initiatives clearly show the direction in which advanced network technologies can be monetised,” she says.

Artificial intelligence is also becoming an increasingly important component of telecom operations. Rapaić believes telecom operators play a key role in building the infrastructure required for the AI ecosystem.

“Telecom companies build the infrastructure without which artificial intelligence simply cannot function – from networks to data centres. At the same time, we help businesses and citizens understand how to use these technologies effectively,” Rapaić says.

Within Hrvatski Telekom itself, AI is already used to optimise internal processes. “We are using AI in several areas, including network development analysis, energy consumption optimisation, and understanding customer behaviour. This allows us to offer more relevant services and improve operational efficiency,” she adds.

Alongside network expansion, ICT services are becoming an increasingly important part of the company’s strategy through its subsidiary Combis. According to Rapaić, the boundary between telecom and IT services has effectively disappeared.

“ICT used to be considered ‘beyond the core’, but today it is very much part of our core business. Combis focuses on three key areas – networking solutions, cloud services, and cybersecurity,” Rapaić explains. She highlights that demand for cloud and security services continues to grow. “We will continue investing in cloud infrastructure and data centres, while cybersecurity services remain critical because digitalisation inevitably brings increased cyber risk,” Rapaić concludes.