Pannon GSM profits rise sharply in Q2

Tourism

Mobile phone company Pannon GSM Zrt, the Hungarian unit of Norway's Telenor, posted pre-tax profits of Ft 9.52 billion (274 million Norwegian crowns) in the second quarter of 2006, up 21.2% from the same period a year earlier, according to Telenor's Q2 report published on Friday.

Operating profits rose 35.9% to Ft 9.73 billion in Q2 2006. Q2 total revenues fell 4.7% to Ft 49.6 billion. The number of subscriptions increased by 8,000 in Q2 2006 to 2,947,000, giving Pannon a market share of 33%, slightly down from 34% at the end of Q1 2006. Total mobile revenues measured in forints increased by 3% due to a higher number of subscriptions and increased average usage, Telenor said in the report.
Q2 EBITDA rose 25% to Ft 19.7 billion. EBITDA margin improved to 39.7% from 32.3% in Q2 2005, primarily due to higher subscription and traffic revenues and lower costs related to sales and marketing activities, according to the report.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.