Magyar Telekom expects windfall tax to cost it HUF 25 bln

Telco

Magyar Telekom on Sunday said it expects a "supplementary" telecommunications sector tax to cost it about HUF 25 billion in 2022, according to a report by state news wire MTI.

The tax, on net sales, is expected to be accounted as an operating cost. As a consequence, Magyar Telekom revised its 2022 guidance for adjusted EBITDA to a "moderate decline".

Earlier, MTel had expected adjusted EBITDA to rise 3-5% from HUF 216.3 bln in 2021.

Hungary's government levied windfall taxes on a number of sectors in 2022 and 2023 in a decree published on Saturday.

Alteo Shareholders Approve HUF 400/Share Dividend Green Energy

Alteo Shareholders Approve HUF 400/Share Dividend

Bulgaria's Household Income, Spending Rise 20% in 2023 World

Bulgaria's Household Income, Spending Rise 20% in 2023

MBH Bank’s Post-merger HR Vision HR

MBH Bank’s Post-merger HR Vision

Silvanus Hotel Under Reconstruction, Will Reopen in Fall Hotels

Silvanus Hotel Under Reconstruction, Will Reopen in Fall

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.