Telekom Srbija has set its sights on significant growth, aiming for a credit rating, listing on the European stock exchange and issuing corporate bonds. The company targets €3 billion in revenue by 2029, plans to expand into German and U.S. markets, lead 5G development in Serbia, and pursue acquisitions.
In an interview with Biznis.rs, CEO Vladimir Lučić discussed the company’s strategies and progress. In 2023, Telekom Srbija Group surpassed €2 billion in revenue, with 8% coming from markets outside Serbia, Montenegro, and Bosnia and Herzegovina. The company has entered media and mobile virtual network operator (MVNO) markets in Croatia, Slovenia, North Macedonia, Austria, Switzerland, and is set to expand to the U.S.
Lučić emphasized the potential of the diaspora in Germany and the U.S. as key markets, where the standard of living and income per user are higher. The goal is to achieve greater profitability and diversify income, reducing reliance on the domestic market.
Telekom Srbija aims to transition from a local operator to a multinational company, adapting strategies from successful digital platforms. Lučić noted plans to issue corporate bonds to refinance existing debt rather than increase it, with a target value of €450 to €800 million. The timing will depend on market conditions, but they anticipate movement by the end of the year or early 2025.
The company continues to pursue acquisitions, particularly in cable operators and media. Lučić highlighted plans to invest a minimum of €150 million in 2025, focusing on expanding the 5G network and enhancing services for the diaspora.
Despite challenges in Kosovo and Metohija, where Telekom Srbija remains the largest Serbian company, Lučić expressed confidence in obtaining a 5G license and expanding operations in the region.
Regarding privatization, Lučić stated that the focus remains on increasing the company’s value, which has grown due to higher EBITDA and expanded services in media and digital sectors. As Telekom Srbija seeks to solidify its position as a multinational entity, transparency and improved governance are essential to its future success.
