* FY rev down 6.8 pct at 7.04 bln kuna
* Net profit down 15 pct at 1.44 bln
* Cuts dividend to 9 kuna/shr from 20.5 kuna
ZAGREB, Feb 14 Croatia's biggest telecom
operator T-HT said on Friday its revenue and net profit
were dented in 2013 by a protracted economic crisis and
regulatory changes due to the country's European Union entry.
Revenue fell 6.8 percent year-on-year to 7.04 billion kuna
($1.3 billion), while net profit was down 15 percent at 1.44
billion, the group said. It is cutting its dividend to 9 kuna
per share from 20.5 kuna.
"The economic downturn and significant regulatory changes
strongly impacted the 2013 performance, but we have maintained
our leading position across all segments of the Croatian
telecommunication market," T-HT Chief Executive Davor Tomaskovic
Croatia, which joined the EU last July, has suffered five
straight years of recession, while EU entry meant the
introduction of regulatory changes particularly in so-called
roaming and termination fees.
Tomaskovic said the company's focus this year was to seek
ways to reverse the declining trend in its results.
"We will intensify investment in infrastructure development
and increased service quality, while also identifying and
exploiting regional business expansion opportunities in
southeast European markets," he said.
T-HT, majority owned by Deutsche Telekom, serves
1.2 million fixed line customers and 2.3 million mobile
subscribers in a country of 4.4 million people.
Its main local competitors are Vipnet, owned by Telekom
Austria, and Sweden's Tele2.
T-HT said it expected a decline of revenue also this year,
but at a slower pace.
($1 = 5.6024 Croatian kuna)
(Reporting by Igor Ilic; Editing by David Holmes)