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Telenor Hungary's profit hit by windfall taxes

Fourth-quarter EBITDA at Telenor’s Hungarian operations fell to HUF 11.65 billion from HUF 11.77 billion one year earlier, despite a rise in revenues from HUF 41.4 billion to HUF 42 billion, the mobile-phone service provider has announced. Telenor’s average revenue per user rose to HUF 3,629 from HUF 3,577. The company paid HUF 2.4 billion in sectoral tax in the fourth quarter, as well as HUF 2.4 billion in the telephone tax introduced in the second half of 2012. Telenor had 3.521 million subscribers at the end of 2012, 62,000 more than one year earlier, giving it 31.78% of the mobile phone market and 30.13% of the mobile internet segment. Capital investments in the fourth quarter declined to HUF 2.35 billion from HUF 8.75 billion one year earlier, when Telenor carried out a network development project.