Magyar Telekom to continue network developments
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.
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.