Pannon Q2 revenues drop on lower termination, roaming fees

24 Jul 2008

Hungarian GSM operator Pannon has reported revenues of HUF91.1 billion (USD615.6 million) in the first six months of 2008, down 2.8% year-on-year, while 2Q08 revenue dipped 2.2% to HUF46.2 billion. The operator said its financial performance had been impacted by declining termination and roaming fees which had cut the cellco’s turnover by HUF1 billion in the first half of the year. EBITDA was HUF38.1 billion in 1H 2008, up 1.5% on the corresponding period of 2007, while 2Q08 EBITDA reached HUF19.1 billion, up 3.5% y-o-y. 1H 2008 CAPEX was HUF8.3 billion.

Pannon reported 13,000 net new additions in the second quarter of this year to end June with 3.414 million mobile subscribers, a market share of 33.27% (down 0.27 percentage points on the previous quarter). Of the total, 41.3% were on monthly contracts, up from 40.5% three months earlier, although the rise in post-paid users did not help sustain monthly blended ARPU which dipped by 6% in the first half of 2008.

Hungary, Telenor Hungary