Telenor Magyarország earnings drop on telephone tax
Telenor Magyarország's third-quarter EBITDA fell 20% to HUF 12.2 billion from the same period a year earlier because of a recently introduced tax on telephone calls and text messages, the mobile telecommunications company said on Wednesday.
Telenor Magyarország said it paid HUF 2.5 billion on the telephone tax - introduced in July - and an additional HUF 2.4 billion on the telecommunications sector "crisis tax" in Q3. The combined amount was equivalent to 12% of revenue during the period, it added. Revenue edged down 3% to HUF 40.5 billion because of a reduction in call termination fees from January.
Telenor Magyarország had 3,458,000 subscribers at the end of September, 13,000 more than three months earlier. Based on SIM cards in use, the company's market share edged up to 31.47% from 31.38%. Its share of the mobile internet market reached 28.89%.
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.