Are you sure?

4iG reaches HUF 280 mln after-tax profit in Q1

Listed IT company 4iG had HUF 280.5 million after-tax profit in the first quarter of 2019 compared to a HUF 106.2 mln loss in the same period a year earlier, the company said in an earnings report posted on the Budapest Stock Exchange today, Hungarian news agency MTI reports.

Earnings per share was put at HUF 15, compared to a negative HUF 5.8 in Q1 2018. Net revenue was up by 65% at HUF 4.85 billion. EBITDA grew to HUF 483 mln from HUF 26.6 mln in the base period.

The number of employees at the end of Q1 was 400, up from 369 a year earlier. Market capitalization rose to HUF 76.3 bln from HUF 4 bln in the first quarter of last year.

The companyʼs management says it still considers growth its fundamental goal in 2019. It wants to preserve its existing partners and enter new market segments. The management predicts continued dynamic revenue growth and improving efficiency.

The Mészáros Group, belonging to pro-government investor Lőrinc Mészáros, a key ally of Prime Minister Viktor Orbán, is the largest stakeholder in 4iG.