Magyar Telekom Q2 sales increase 9.2%

9 Aug 2018

Hungary’s Magyar Telekom reported that total revenues increased by 9.2% year-on-year to HUF167.7 billion (USD609 million) in Q2 2018 (excluding the impact of adopting IFRS 15 reporting standards), primarily driven by a strong rise in B2B IT/system integration (SI) revenues alongside rises in mobile data usage and equipment sales. Mobile revenues climbed 5.1% y-o-y to HUF83.7 billion in April-June 2018 whilst fixed line revenues improved 5.4% to HUF50.8 billion, boosted by gains in broadband/TV service revenue; quarterly SI/IT revenues grew by 36.2% to HUF33.2 billion. Q2 group EBITDA was up 6.6% to HUF51.0 billion as a result of improved gross profit and savings on operating expenses.

Magyar Telekom’s Hungarian mobile subscriber base declined by 1.6% y-o-y to 5.31 million at 30 June 2018, whilst retail fixed broadband customers increased by 5.2% to 1.10 million. Hungarian pay-TV customers climbed 3.9% to 1.04 million; fixed voice lines dropped 2.4% to 1.39 million.

Subsidiary Makedonski Telekom (Macedonia) also saw a drop in active mobile connections, down 3.1% y-o-y to 1.17 million, while its fixed broadband accesses were stable at 190,000. Macedonian IPTV subscribers grew by 10,000 y-o-y to 122,000; the unit’s fixed voice lines decreased by 3,000 to 210,000.

Hungary, North Macedonia, Magyar Telekom, Makedonski Telekom (Telekom)