Lucic: Telekom Srbija's 2025 revenues at record-high 2.3 bln euros, profit at 1.3 bln

BELGRADE - Telekom Srbija registered record-breaking business results in 2025, with revenues totalling 2.3 bln euros and an operating profit of 1.3 bln euros, the company's CEO Vladimir Lucic said on Monday, adding that a full abolition of mobile roaming charges with the EU was possible as early as in 2027.

In an appearance on Prva TV, Lucic said Serbia had accounted for the majority of the good results, with revenues of 1.65 bln euros and an operating profit of 960 mln euros registered in the country last year.

He said a final audit report had also confirmed a net profit exceeding 200 mln euros and that, based on the Q1 2026 performance, this year's net profit was expected to exceed 300 mln euros.

He noted that the abolition of roaming charges with the EU was among the Telekom Srbija priorities that would be the most beneficial to Serbians and citizens of the entire region.

"Telekom Srbija is strongly advocating that," Lucic added.

He noted that Telekom Srbija had successfully transformed its operations.

"I will remind you that, when we began a transformation of the company in 2018, we had total revenues of under one billion euros and that a strong media, political and lobbying campaign against Telekom Srbija had been underway for a full seven years, in Serbia, and in Brussels and Washington alike. However, it has turned out that the truth wins and that a lie that has been uttered hundreds or thousands of times cannot become the truth. It has also been confirmed that our strategy of market consolidation through the acquisition of a large portion of United Group operations was absolutely correct," Lucic said.

In Serbia, Telekom Srbija currently has a market share exceeding 60 pct and is the only telecoms operator in the country that also produces media content, and rival operators are paying the company to use its content and optical infrastructure, Lucic said.

By acquiring NetTV, United Group's media platform designed for Serbian expats, Telekom Srbija has become the only operator legally offering TV channels from the region to subscribes abroad, he noted.

Lucic announced that special focus would be placed on development of artificial intelligence, where Telekom Srbija sees an opportunity to position itself as a regional partner of the US tech ecosystem.

He said the US was the global hub of AI development and that his company wanted to become a part of that market by cooperating with major tech firms and institutions.

"Above all, we have an opportunity to become a major US partner for entire Europe in the AI domain as Europe has made a mistake in defining its priorities. I am very pleased with the cooperation with the US administration. We also share the same priorities, such as AI, cyber security, startups. We are well received in Washington, at the State Department and the Department of Commerce, which we are also using to forge better ties with the largest digital companies," Lucic noted.

Speaking about Telekom Srbija operations in Kosovo-Metohija, he said the company had survived in the province thanks to the Brussels Agreement and support from the US administration but that problems with implementation of agreed commitments remained.

"In fact, we have survived in Kosovo-Metohija thanks to the Brussels Agreement. That document was our foundation for preventing a shutdown of our company MTS three years ago, when we had strong support from the US administration. Unfortunately, as many as 13 years since the signing of that agreement, many things remain unfulfilled, including Pristina's commitment to open a tender for a third mobile (operator) licence, which they are refusing to do because they know that, as the telecommunications leader in the entire Western Balkans, we would certainly win. We have around 30,000 subscribers in Kosovo-Metohija, and they use very good internet and the same TV channels as the rest of Serbia," he said.

He noted that development of the mobile telephony network in Kosovo-Metohija was limited but that Telekom Srbija continued activities aimed at its participation in a future tender as it knew that, as by far the best bidder, it would be awarded a licence.

Lucic also said Telekom Srbija was planning to break into the US market in the coming months to expand its operations abroad, which already include Germany, Switzerland and Austria.

He added that Telekom Srbija would start operations in the US in September, catering to expats from the Western Balkans.

The subscription plans for the US market will be up to two times cheaper compared to those offered by rival operators, he said, adding that subscribers in the US would be offered unlimited calls to US phone numbers and to Serbia, Montenegro and Bosnia and Herzegovina, as well as 300 TV channels from the Western Balkan region.

Lucic said Telekom Srbija had completed all tests in the US and was planning to use the AT&T network, and added that acquisition of regulatory permits was in the final stage.

He also said Telekom Srbija had seen a strong increase of interest in its services among subscribers in Germany, and noted that the company had three outlets in Munich, with new ones to be opened in Dusseldorf, Stuttgart and other German cities with a sizeable diaspora from the Western Balkans.