The Serbian Business Registers Agency (APR) annual report showed that the state-controlled Telekom Serbia has seen its revenue increase while its profits dropped.
The report covering 2024 showed that Telekom had 1,200 more employees than a year earlier. It’s revenue stood at 206.56 billion Dinars, an increase of 20.4 percent, mainly from multi-media services, ranking it third in terms of revenue after the EPS power company and Serbian Oil Industry (NIS).
Telekom’s expenses rose by 16.4 percent to stand at 174.56 billion Dinars, giving it a 48.7 percent increase in profits which stood at 32 billion Dinars. Telekom increased its expenses in terms of loan repayments, financial leasing and corporate bonds totaling 33.9 billion Dinars led to losses of 27.34 billion or 51.6 percent more than a year earlier, the APR said adding that those and other losses totaled 1.41 billion Dinars, a drop in profits of 97.2 percent.
Source: N1
