Financial Loss Puts 4iG in the Red

Listed ICT company 4iG had a first-half loss of HUF 23.3 bln as financial losses weighed, an earnings report released after the closing bell on Friday shows.

The company’s net sales revenue climbed 23% to HUF 328.4 bln. 4iG’s EBITDA increased 16% to HUF 110.5 bln, news agency MTI writes, citing the report.

However, despite this, a HUF 39.3 bln net financial loss put 4iG in the red.

4iG noted that close to approximately 88% of its net sales revenue was generated by its telecommunications business.

In a geographical breakdown, domestic sales accounted for 87% of the total, while sales in Albania generated 10% and sales in Montenegro just about 3%.

As the BBJ wrote earlier, 4iG reported a loss of more than HUF 18 bln in Q1 2024.

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