Croatian Telecom among most influential companies in Croatian economy

Croatian Telecom (HT) invested HRK 5.7 billion in Croatia in the 2011-15 period, contributing to the creation of nearly HRK 13 billion in new value, including taxes, the wage budget and profits, which has made it one of the companies with the biggest influence on the economy and society, according to a Zagreb Institute of Economics analysis.

The analysis was presented in Selce on Friday to show HT's social and economic contribution, comparing the ten biggest companies in Croatia.

"The HT Group generates over 3% of Croatia's GDP and supports over 27,000 jobs in Croatia because every job within the HT Group is tied to 4.4 jobs in the rest of the economy," Institute manager Maruska Vizek said at the presentation.

The average net salary in the group is HRK 8,616, which is 54% above the national average and 16% above the IT sector average.

"HT has been the biggest private investor in Croatia in the past five years because it has a multiplicative effect on the entire Croatian economy and creates the biggest value to all of its stakeholders, employees, shareholders, suppliers and the state," Vizek said.

HT management board chairman Davor Tomaskovic said the analysis highlighted the importance of HT's business for jobs and investments. "We are continuing with investments that are key for the further development and digitisation of society so, as of September, we are offering 180,000 broadband Internet users surfing at five times faster speeds."

He said that this year HT overturned five years of falling revenues and profits, generating excellent results and investing HRK 1.5 billion, the most among private investors.

(EUR 1 = HRK 7.48)

Last update: Fri, 09/09/2016 - 12:22

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