MakTel revenues, EBITDA up marginally in Q4

28 Feb 2012

Macedonia’s incumbent PTO Makedonski Telekomunikacii (MakTel), which is 51%-owned by Hungary’s Magyar Telekom, posted a ‘modest’ 0.9% year-on-year increase in revenue to HUF19 billion (USD87.6 million) in the three months ended 31 December 2011, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 4.4%. The parent company said the depreciation of the Hungarian forint had a positive effect on the Macedonian operation’s contribution to group results (on average, the Hungarian forint weakened by 9.3% against the Macedonian denar in the fourth quarter of 2011 compared to 2010, it said). Magyar Telekom added that decline in revenue and EBITDA in local currency terms was due to ‘intense competition within the mobile market, resulting in significant pricing pressure which could not be offset by savings in employee related expenses’. MakTel booked an 8.7% fall in fixed line revenues in Q4 2011, arising from lower voice (retail) and data traffic, while mobile turnover dropped 6.8% in a ‘fiercely competitive’ market that put price pressure on ARPU, which fell 5.8% y-o-y despite higher usage.

As at 31 December 2011 MakTel counted 311,240 main lines in service (down 9.3% y-o-y), 137,563,000 retail xDSL connections (up 5.7%), 23,847 wholesale DSL lines (13.1%) and 40,129 IPTV subscribers (33.2%). MakTel wireless arm T-Mobile Macedonia had 1.265 million mobile subscribers at the end of 2011, a 2.3% decline over a year and a market share of around 50%. Fourth-quarter ARPU was HUF2,533, down from HUF2,690 a year earlier, although average MoU climbed 5.2% to 142 minutes. Magyar Telekom says it is looking to invest an additional EUR180 million in Macedonia in the next few years.

North Macedonia, Makedonski Telekom (Telekom)