Pannon reports third quarter results

Hungarian cellco Pannon, owned by Norway’s Telenor Group, has posted third quarter results showing year-on-year EBITDA improved 5.4% to HUF20.7 billion (USD11.8 million), on the back of slightly reduced turnover, down 1.3% to HUF48.9 billion. Subscriber monthly ARPU decreased by 8% y-o-y to HUF4,729 in the three months to 30 September, while subscriber numbers themselves increased to 3.22 million, from 2.98 million twelve months ago. According to TeleGeography’s GlobalComms database, Pannon was Hungary’s second-placed cellco by subscribers at the end of June this year with a 32.3% market share, behind T-Mobile Hungary (45.7%) but ahead of Vodafone Hungary (22%).