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Invitel Holdings reports 3Q09 results

1 Dec 2009

Hungarian altnet Invitel Holdings (formerly Hungarian Telephone and Cable Corp [HTCC]) has published its financial results for the three months ended 30 September 2009, noting that its performance had been affected in part by the

Hungarian forint’s 15% average depreciation against the euro, in the period under review. Invitel Holdings’ revenue amounted to EUR80.7 million (USD121.3 million) for the three months ended 30 September 2009, which represents a 21% year-on-year decrease, it said. The operator’s segment gross margin decreased by 16% from EUR72.8 million in 3Q08 to EUR60.8 million in 3Q09, although general operating costs fell 26% from EUR31.3 million to EUR23.3 million over the same period. Income from operations decreased slightly by 2% to EUR18.5 million in 3Q09, while Invitel Holdings’ net loss attributable to ordinary shareholders was EUR0.7 million, or EUR0.04 per ordinary share, compared to a net loss attributable to common shareholders of EUR13.4 million, or EUR0.82 per common share, for the quarter ended 30 September 2008.

Hungary, Invitel (part of DIGI)

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