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Magyar Telekom to continue network developments

Telco

Magyar Telekom will reach 2.7 million households with its high-bandwidth internet service by the end of this year and will increase 4G coverage on the mobile market to 99% by the end of 2017 as part of network developments in response to growing market competition, Magyar Telekom CFO János Szabó said today, according to Hungarian news agency MTI.

Szabó said MTelekom will be prepared for the entry to the market of new mobile phone service provider Digi at the end of March 2017. 

As a result of recent government network development tenders, MTel has won the right to build at least 30-megabit/sec networks in 46 regions, by which it will reach 110,000 households in the next two years, mainly in small communities across the country.

Magyar Telekom also published its Q3 earnings report Wednesday.

MTel had IFRS consolidated revenues of HUF 443.8 bln and EBITDA of HUF 153.2 bln in January-September, with revenue down 6.3% from a year earlier but EBITDA up 6.7%. Net profit rose 41.7% from a year earlier to HUF 34.5 bln.

Magyar Telekom raised its revenue expectation to HUF 595 bln this year from the earlier HUF 580-590 bln on the back of the improving results, and raised its EBITDA expectation to HUF 193 bln from the earlier HUF 187-191 bln.

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