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22 March 2019 07:33 am
*MTEL – BUSINESS RESULTS

Profit higher by 20 percent
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Podgorica, (MINA-BUSINESS) – M:tel finished the last year with a net profit of €6.7 million, up 20 percent year on year.

Executive Director of M:tel Vladimir Lucic has said that 2018 was a very successful year for the company, adding that its revenues increased by six percent to €73 million.

“What is important is that our revenues are higher thanks to an increase in the number of users in both mobile and landline network. As regards the fixed internet and television, we saw a 30 percent year-on-year growth,” Lucic said at a press conference.

He said that the company’s EBITDA was at a record level, amounting to €29 million.

“We have invested €290 million in the infrastructure so far, out of which €122 million was foreign direct investment, while the rest was financed from the revenues,” said Lucic.

He added that M:tel was one of the largest investments in Montenegro in the previous 12 years.

Lucic said that M:tel had become the number one operator in the mobile network in February, with a market share of 33.8 percent.

“We are proud to be one of the largest donors in Montenegro,” Lucic said, adding that the company had donated more than €1 million to the Clinical Centre.

He said that the company was very satisfied with the business environment in Montenegro.

"We believe in the progress of the country and that it has a great potential given its position as a tourist destination. Our success and the level of investments show that we are very satisfied," said Lucic.

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