"Telekom Srbije" registered 5.6 billion RSD worth of profit in 2008

"Telekom Srbije" is responsible for 5.6 billion RSD worth of profit in 2008, which is about 6 billion RSD less than in 2007.

As people from “Telekom Srbije” told Beta agency, the drop in profit was registered because of the significant fall in value of Dinar against Euro and because of the commencement of repayment of the loan of 700m EUR for takeover of "Telekom Srpske".

The business incomes of the company grew by 14% in 2008, reaching 84.9 billion RSD, while the business expenses were increased by 8%, which led to the growth of operational profit by 42%.

Total amount of the investments of "Telekom Srbije" in 2008 is 21 billion RSD, 11.6 billion RSD of which were invested in fixed telephony.

The number of fixed telephony users grew by 3% in 2008 and amounted to 2,995,223, while the losses in fixed telephony reached the amount of 2.1 billion RSD because of the non-economic prices of subscription and local calls.

The level of digitalization of fixed network exceeded 96% at the end of year 2008.

"Telekom" kept the leading position in mobile telephony in 2008 with the market share of 60% and 5,867,026 subscribers, which is 10% more users than in 2007.

The number of employees in company "Telekom Srbija" was cut by 4.7%, that is, by 466, and it amounted to 9,507 at the end of year 2008.

"Telekom Srbije" adopted the first strategic document last year – Strategic Plan prior to year 2012, and it finished the reorganization of operations.

Total business incomes of the business group that comprises "Telekom Srbija", "Telekom Srpske" and Montenegrin "Mtel" amounted to 105.4 billion RSD in 2008, which is about 25% more than in 2007, while the operational profit grew by 77%.

The share of "Telekom Srpske" in the mobile telephony market in Bosnia and Herzegovina amounted to 37% last year, while the share of "Mtel" in Montenegro was 26.5%. Total number of mobile subscribers of the group in all three countries amounted to 7.48m at the end of year 2008.