Pannon GSM nine-month revenue rises 3.2%

Analysis

Wireless services company Pannon GSM Zrt, the Hungarian unit of Norway's Telenor, had revenue of Ft 143.1 billion in Q1-Q3 2006, up 3.2% from the same period a year earlier, the company announced on Thursday.

Pannon's number of subscribers rose 130,000 during the same period, according to the announcement. The latest figures from the National Telecommunications Authority (NHH) show 33.63% of Hungary's 9.5 million mobile phone subscribers were Pannon clients at the end of August.
In the third quarter alone, Pannon's number of subscribers rose 34,000, the company said. The announcement noted that Pannon had signed 171,000 new post-paid contracts in the twelve months to September 30, raising the proportion of post-paid clients four percentage points to 38%. Pannon's revenue from post-paid clients increased 3.1% year-on-year in January-September as the result of text message and data transfer. Revenue from voice calls fell due to tariff reductions.
Pannon had EBITDA of Ft 56.124 billion in Q1-Q3, 10% more than in the same period a year earlier. The company's EBITDA rate improved from 36.7% to 39.2% during the period. Pannon's capital expenditures came to Ft 15.3 billion in Q1-Q3, about the same amount as in the same period a year earlier. Pannon's average revenue per user (ARPU) was Ft 5,009 in Q1-Q3, Ft 6 less than in the same period a year earlier.

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