Magyar Telekom Earnings Climb

Telco

Third-quarter net income of Magyar Telekom rose 35% year-on-year to HUF 22.9 billion on higher revenue and improved margins, state news wire MTI writes, citing an earnings report released after the closing bell on Wednesday.

Revenue climbed 13% to HUF 216.2 bln, boosted by strong growth in mobile data and fixed broadband revenue as well as the impact of an inflation-based adjustment applied to subscriber fees from March 1.

Direct costs rose just 5% to HUF 85, lifting gross profit 19% to HUF 131.3 bln.

EBITDA increased 23% to HUF 80.5 bln.

CEO Tibor Rékasi noted that MTel had upgraded its full-year guidance in September amid favorable subscriber growth and customer spending trends.

MTel expects revenue and EBITDA after leases to grow by 10-15% for the full year "as a result of recent developments in the Hungarian telecommunications market being more favorable than previously expected", he added. 

MTel's Q1-Q3 revenue rose 13pc year-on-year to HUF 620.2 bln. EBITDA climbed 16% to HUF 214.4 bln.

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