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Pannon revenue slips 7% in Q2

Pannon, Hungary's second-biggest mobile services company in terms of subscribers, had revenue of NOK 1.374 billion in the second quarter, down 7.3% from the same period a year earlier, Pannon's parent Telenor said in its Q2 report.

Subscription and traffic revenue dropped 2.6% to NOK 1.029 billion. Interconnect revenue slipped 20.9% to NOK 277 million. Operating profit fell 10.4% to NOK 935 million. Pannon's subscriber numbers fell 17,000 in Q2, but its market share grew slightly to 34%. Average revenue per user, measured in forints, fell 8% mainly because of lower interconnect rates, reduced roaming charges and a drop in average usage. Total revenue, in forints, slipped just 4%, as the drop was partly offset by increased mobile broadband revenue. EBITDA, in forints, fell 3% because of bigger losses on receivables and increased operation and maintenance expenses. Higher operating costs were partly offset by reduced interconnect rates and lower handset subsidies. EBITDA margin was stable. (MTI-Econews)