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Telenor Magyarország revenue slips in Q3

Telenor Magyarország’s third-quarter revenue edged down about 2% to HUF 41.7bn from the same period a year earlier because of a reduction in call termination fees and the low purchasing power of Hungarian households, the mobile telecommunications company said on Wednesday.

EBITDA fell 25% to HUF 15.7bn during the period.

EBITDA was down from 2010 mainly because of the "crisis tax" on telecommunications companies and Telenor's spending on network modernization, the company said.

Telenor spent HUF 2.2bn on investments in Q3, up from HUF 1.6bn in the same period a year earlier.

Telenor had revenue of HUF 37.6bn and EBITDA of HUF 13.1bn in the first quarter. In Q2, revenue came to HUF 39.6bn and EBITDA was HUF 14.2bn.

Telenor had 3,523,000 subscribers at the end of September, 24,000 fewer than twelve months earlier.

The average subscriber paid HUF 3,655 a month in Q3, down from HUF 3,762 in the same period a year earlier.