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Mobile Data Traffic Drives Magyar Telekom Revenue Growth

Telco

Mobile data traffic was the "engine of growth" for Magyar Telekom last year, CEO Tibor Rékasi said at a press conference on Thursday, a day after the company released fourth-quarter earnings, according to a report by state news wire MTI.

Rékasi noted that subscribers used 9.7GB of mobile data per month last year, on average, up from 7.6GB in 2021.

He said MTel's number of SIM cards rose 6% to 6 million last year. The number included 3.8m post-paid cards, he added.

MTel made "intensive" developments of its fixed-line network last year, adding 375,000 optical network access points, he said. Over 3.4 million households in 1,400 settlements have access to Gigabit internet, he added.

Around 77% of MTel's access points are now Gigabit-capable, while older, copper wire technology has been switched off in over 100 settlements.

CFO Daria Dodonova said CAPEX, excluding spectrum fees, rose 16% to HUF 126.7 bln last year. This year, the company hasn't issued guidance for Capex as estimates are difficult to make because of the macroeconomic environment and exchange rate changes, she added. 

She noted that MTel is raising tariffs by 14.5% - level with last year's average rate of inflation - from March 1.

MTel's net income rose 7% to HUF 63 bln last year as revenue increased 8% to HUF 746.7 bln, the company's earnings report shows. In guidance in the report, MTel put 2023 revenue growth at 5-10% and projects "moderate growth" for adjusted net income.

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