Magyar Telekom 9M net income down to HUF59.4 billion

Hungarian incumbent fixed line operator Magyar Telekom (MT) reported a 1.5% fall in net profit to HUF59.4 billion (USD343.7 million) in the first nine months of the year, but beat market expectations thanks to stronger than expected sales. Revenues were up 2.7% at HUF503.6 billion driven by mobile and in particular data, which more than offset declines at the group’s fixed line voice services business. T-Com Hungary posted a 4.3% decline in revenue in the first nine months of the year to HUF60.9 billion. Sales of mobile services were down marginally by 1.1% to HUF72.4 billion after regulator imposed cuts in mobile fees resulted in a 4.8% fall in average revenue per user (ARPU). Meanwhile, MT’s international mobile operations in Macedonia and Montenegro continued to perform strongly with the latter posting 37.5% revenue growth thanks to rising tourist numbers, higher international traffic and increased mobile termination rates.