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Pannon GSM revenue slips to HUF 73.4 billion in 2009

Telenor unit Pannon GSM, Hungary's second-biggest mobile telephone service provider, had EBITDA of HUF 73.4 billion in 2009, HUF 3.6 billion less than in 2008, CEO Anders Jensen said at a press conference in Budapest on Wednesday.

Pannon's revenue fell HUF 11.3 billion to HUF 177 billion in 2009. Revenue fell “against a background of rising unemployment and pressure on consumer spending” and reflected “the long term trend of lower mobile termination charges and handset revenues, but also a temporarily decline in retail voice revenues reflecting current harsh economic environment,” the company said.

Revenue from mobile broad band services jumped 87%. Pannon controls 29.4% of Hungary's mobile internet market, but it aims to take the top spot, Jensen said.

Pannon's capital expenditures fell 27.7% to HUF 12.9 billion in 2009. This year, CAPEX is set to rise 20%, while the company cuts HUF 3 billion from costs. (MTI-Econews)