Telenor Magyarország earnings drop on telephone tax

Telco

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%.

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