Magyar Telekom Q2 Income Climbs 95%

The second-quarter net income of Magyar Telekom climbed 95% to HUF 43.4 billion, lifted by higher sales and improved margins, according to an earnings report released on the website of the Budapest Stock Exchange.

Revenue rose 16% to HUF 240.6 bln. Direct costs increased at a slower pace, rising 8% to HUF 89.1 bln, lifting gross profit 21% to HUF 151.5 bln.

Capex, excluding leases and spectrum licenses, edged up 4% to HUF 26.6 bln.

CEO Tibor Rékási announced upgraded guidance amid a “strong performance and more favorable commercial outlook.” MTel now expects an adjusted net income of around HUF 150 bln for the full year, up from about HUF 140 bln earlier.

It put revenue growth at around 10% over last year’s HUF 849.4 bln, at the top of the 5-10% range in earlier guidance.

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