Lucic: Operating Profit of Telekom Srbija Increased by More Than 250 Million Euros

He noted that, alongside higher revenues, Telekom’s expenses also grew due to increased employee salaries.

“Expenses are rising significantly less than revenues, and operating profit increased by more than 250 million euros, while net profit grew by nearly 50 percent. Telekom is now generating a profit of more than 10 billion dinars, which is a great success, especially considering that last year was marked by the battle with United Group and ongoing inflation,” Lucic told RTS.

Commenting on claims by some media outlets that Telekom’s net profit had declined, Lucic emphasized that this is untrue, as the company now has a profit of 10 billion dinars.

He explained that in 2023, Telekom had a one-time income of 500 million euros from the sale of towers, which was the reason for such high revenue.

“At that time, those who constantly attacked us pointed out that Telekom had a one-time income in 2023. Now they've forgotten that and are comparing 2023 with 2024 revenue. In reality, when you measure it properly, you’ll see that our net profit is now up by almost 50 percent. Telekom Srbija now has a profit of 10 billion dinars,” Lucic said.

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CEO of Telekom Serbia, Vladimir Lucic, stated in Washington for U.S. television network Newsmax that the company will launch a mobile network in the United States at the beginning of next year, focused on users from the diaspora originating from the former Yugoslavia.

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Lucic at Transatlantic Cooperation Conference: Telekom Serbia the Fastest Growing Operator in Southeast Europe

CEO of Telekom Serbia, Vladimir Lucic, speaking at the Forum on Transatlantic Economic Cooperation of Southeast Europe in Washington, said he is proud that the company he leads is the fastest growing telecommunications operator in Southeast Europe.

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He described this as a major success for two reasons: the victory in the battle with United Group and the significant investment in sports content, which totaled nearly 40 billion dinars.

He also announced that by the end of July, four more sports channels would be added to the MTS cable network.

“Two more Arena Premium channels, one Arena channel dedicated solely to tennis, and one MotoGP channel, called Arena Adrenaline, will be added. But this purchase actually meant a major future rationalization of the main cost we had for investing in sports content. It’s now clear to everyone that in the future, we will be an extremely — even exceptionally — profitable company,” Lucic said.

He added that Arena is now present in every household and pointed out that the cost of renewing sports broadcasting rights has dropped by up to four times since Arena became the sole sports channel and competition disappeared.

Speaking about Telekom Srbija’s future plans, Lucic mentioned that the diaspora is one of the key projects and that the next goal is to expand into the United States.

“We’ve done a lot in establishing strong ties with the United States. I must say that we are an example of how important good cooperation with American institutions can be for a company and how much potential there is. We have a special partnership with Amazon and Bank of America, and we are the first company in Europe to bring in the U.S. Export-Import Bank, which will help us with the 5G network,” said Lucic.

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