Telecom Slovenia talks up TV deal as revenues fall

Telecom Slovenia reported quarterly revenues and operating profits that were both down year-on-year, but named its TV partnership with Antenna Group among its operating highlights for the first three months of 2013.

Last month Telecom Slovenia formed a joint venture with European media investment firm Antenna Group to run a TV channel in Slovenia. The Planet TV network, which began transmitting a full programme schedule in November 2012, is to be 49% held by Telekom Slovenia, with Antenna taking the remaining 51%.

In its quarterly earnings report, the firm said that expanding in the long term beyond traditional telecommunications activities to television, digital advertising, management services, cloud computing was important for operators to remain profitable.

“The trend of declining revenues from traditional fixed and mobile telephony services continues. Telekom Slovenije’s revenues in the mobile segment were down primarily due to the migration of subscribers to new, less expensive packages that include a higher number of services,” said Telecom Slovenia.

In the quarter the firm reported operating revenues of €190.5 million, down 1.7% year-on-year. Its operating profit amounted to €20.3 million, down 11%, however net profit was up slightly at €14.5 million.