At today’s regular Shareholders’ Meeting of Crnogorski Telekom AD in Podgorica, the company approved its Financial Statements and Business Report for 2024. The company reported a net profit of €5.82 million for the year. The shareholders decided to distribute €5.48 million (gross €0.12 per share) as dividends, while the remaining €342,000 will be retained earnings.
Crowe MNE was reappointed as the independent auditor for 2025, and the company’s Remuneration Policy was approved. All current members of the Board of Directors were re-elected, including Siniša Đuranović as chairman.
The company also approved a capital reduction by canceling treasury shares and authorized a new share buyback program with a budget of €3 million over the next 10 months.
Crnogorski Telekom continued its four-year growth trend in revenue and operating profit in 2024, achieving 15 consecutive quarters of growth. Revenues increased by 7.5% year-on-year to €90.4 million, while EBITDA grew by 6.5% to €32.1 million, reflecting solid performance in both retail and wholesale segments.
Record investments of €20 million were made in network development, technology, and customer experience improvements. The company expanded and optimized its mobile network, covering over 90% of the population with 5G and 98% with 4G. Testing of next-generation technologies like WiFi 7, 50GPON with speeds up to 20 Gbps, and 5G+ mmWave (26 GHz) with speeds reaching 4 Gbps positioned Montenegro among regional and European leaders in ultra-fast networks.
Customer base growth was strong across key segments in 2024: optical fiber subscribers grew by 13% with network expansion covering 143,000 homes; postpaid mobile customers and mobile internet users each increased by 6%; broadband connections rose by 1.3%, and TV subscribers increased by 2.2%.
CEO Stjepan Udovičić emphasized the company’s commitment to strategic investments and innovation, building a future-ready network and maintaining its leadership in Montenegro’s digital transformation. The company aims to provide customers with superior, reliable, and fast connectivity, as reflected by record 5G coverage and customer satisfaction.
On the Montenegro Stock Exchange, Crnogorski Telekom traded €1.83 million worth of shares in 2024, with the share price rising 21% from €1.80 to €2.17. The dividend yield of 5.7% made Telekom’s shares an attractive investment compared to traditional savings products.
