MTelekom posts best quarterly figures in 4 years
Thursday, August 11, 2005, 11:40
Magyar Telekom Rt (MT), Hungary?s incumbent telecoms firm, posted better-than-expected Q2 results on Thursday buoyed by a healthy growth at its cell phone unit and in international operations as well as the consolidation of its Montenegrin arm, news portal portfolio.hu. Mtelekom?s net earnings surged 44.5% year on year to Ft 23.4 billion in the second quarter of 2005 despite the fact that its consolidated revenues grew by a mere 3.0%. The company?s sales totaled Ft 156,326 million overshooting the market?s consensus by 1.6%. Earnings before interest, tax, depreciation and amortization (EBITDA) came in at Ft 64,979, up 3.3% up from Q2 in 2004. The Hungarian telecom?s EPS (earnings per share) soared by 44.5% to HUF 22.5 in April-June compared to the same period of last year. The second quarter consolidated income statement included, for the first time, the results of Telekom Montenegro Group (TCG), which reported HUF 6.1 billion in revenues in Q2 with an EBITDA of Ft 0.6 billion.