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What's the real value of Serbia's "national jewels"? "Telekom Srbija could reach 4 billion euros"

Business results work in favor of the company, which is considered to be "national jewels," increasing its market value to 4 billion euros, it was said at today's news conference where the company's results were presented

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According to all projections we have, which refer to financial reports, Telekom Srbija will be worth at least 4 billion euros by 2023, the coordinator for internet and multimedia of Telekom Srbija, Vladimir Lucic, has told a press conference.

According to him, bearing in mind further plans and the fact that the company will be doing business in more countries, it is possible that the value will be even higher.

"The fact is that we hold 20% of shares, it can be claimed that even now Telekom Srbija is worth more than two billion euros," he stated.

Lucic added that revenues have been moved to sectors that are no longer risky, because of that, the simplest interpretation of profit and the value of shares, regardless of the difficult investment cycle, the company managed to increase its value.

"In fact, in less than two years, we invested in acquisitions, the network and creation of new TV content. Despite that, in addition to developing, we managed to preserve the level of indebtedness, that is to keep it at the European average," he said.

"In 2019 Telekom reached a record number of customers - 10.4 million - a historical result in terms of revenue of 133.7 billion dinars, which is 7% higher than 2018. Our operating profit jumped by 25%," said the company's general director, Predrag Culibrik.

Video: Lucic: According to projections, Telekom will be worth 4 billion euros by 2023

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