Magyar Telekom to Adjust Fees to Inflation

Telco

Magyar Telekom will roll out a 14.5% inflation-based fee adjustment across its customer contracts from March 1, 2023, raising monthly revenue by about HUF 3 billion, the telco said in an announcement posted on the website of the Budapest Stock Exchange on Tuesday, according to a report by state news wire MTI.

MTel noted that, effective September 1, 2022, the general terms and conditions of its customer contracts contain a clause linking a fee adjustment to the previous year's average annual rate of inflation.

Data released by the Central Statistical Office (KSH) on Friday show average annual inflation reached 14.5% in 2022.

MTel said the adjustment is expected to have a positive impact on its revenue outlook for 2023, adding that it will update guidance when it publishes Q4 results on February 22.

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