Makedonski Telekom AD, headquartered in Skopje, has consistently demonstrated outstanding business performance and resilience in the ever-evolving telecommunications sector. As one of North Macedonia's leading telecom operators, the company not only maintained its strong presence in the market but also significantly boosted its profitability in 2023—marking a notable financial milestone.

In the 2023 edition of the 200 Largest and Successful Companies in North Macedonia, Makedonski Telekom ranks 14th by revenue on the list of the 200 largest companies and proudly holds the 3rd position in terms of profitability on the list of the 200 most successful companies, confirming its status as one of the most lucrative enterprises in the country.

Consistent Revenue Growth in a Mature Market

With a total revenue of 12.04 billion MKD in 2023, Makedonski Telekom marked an increase from the 11.83 billion MKD in 2022, continuing a steady upward trajectory observed over the past five years. This growth is especially impressive considering the maturity of the telecom market and increasing competition from both local and international players. Since 2019, the company has steadily increased its revenue from 10.91 billion MKD, illustrating effective market adaptation and a customer-centric approach.

Industry-Leading Profitability

What truly sets Makedonski Telekom apart is its exceptional profitability. In 2023, the company achieved a profit before income tax of 2.50 billion MKD—a remarkable 32% increase compared to 2022. This makes 2023 its most profitable year in the observed period, surpassing even the strong financial results of previous years such as 2020 and 2021.

Such high levels of profit consistently—over 1.89 billion MKD annually since 2019—underline the company’s operational efficiency, strategic cost control, and successful monetization of its digital services and infrastructure investments.

Operational Efficiency with a Lean Workforce

Makedonski Telekom’s ability to sustain growth and profitability is further highlighted by its lean yet productive workforce. The average number of employees in 2023 was 899, a slight increase from 860 in 2022, and significantly lower than 1,060 in 2019. This optimization of human resources, without compromising service quality, is a testament to the company’s strategic focus on digital transformation and automation.

Steady Presence Among the Country’s Elite Businesses

Over the last five years, Makedonski Telekom has been a regular top performer in both revenue and profitability rankings:

• Top 20 by revenue every year from 2019 to 2023.

• Top 6 in profitability for five consecutive years, reaching the 3rd position in 2023.

This consistent excellence has positioned the company as a benchmark for financial performance and corporate governance within the telecommunications industry.

A Role Model in Macedonia’s Corporate Landscape

As digitalization accelerates across industries, Makedonski Telekom’s strategic direction and ability to lead in profitability and innovation make it a key player in the country’s economic development. Its presence in the 2023 edition of the "200 Largest and Successful Companies in North Macedonia" not only reaffirms its impact but also serves as an inspiration for other businesses aiming to thrive in a digital economy.