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Telenor Hungary operating profit up over 20%

The Hungarian unit of telecommunications company Telenor posted NOK 1.195 billion (approx. EUR 127 million) revenues in the third quarter of 2017, up 6.3% on the corresponding period a year earlier, the Telenor group said on Wednesday in an earnings report, cited by state news wire MTI.

Revenues from subscriptions and traffic contributed 80% of the total, and non-mobile revenues 11.5%. Operating expenditures in Q3, at NOK 365 million (approx. EUR 38 mln), were basically unchanged from last year. EBITDA before other items rose to NOK 415 mln, while operating profit was up 20.9% at NOK 289 mln.

Telenor said it continues to see positive revenue trends in Hungary in Q3, driven by consumer postpaid subscription growth. In Q3 compared to Q2, strong consumer postpaid uptake was offset by the cancellation of 69,000 unverified prepaid cards following the mandatory verification of prepaid subscriptions which was due on June 30.

The number of mobile subscriptions decreased by 39,000 compared to the end of Q2 2017, and by 107,000 compared to the end of Q3 2016. The subscription base in Q3 was 3% lower than at the end of the third quarter last year.