Hungary’s Magyar Telekom reported that its total revenues (excluding the impact of IFRS 15 adoption) increased by 7.8% year-on-year to HUF174.0 billion (USD622 million) in Q4 2018 and by 7.2% to HUF655.1 billion in FY 2018, primarily driven by a strong increase in systems integration (SI)/IT revenue alongside higher equipment sales and mobile data usage. Mobile revenues (excluding IFRS 15 impacts) increased by 8.7% y-o-y to HUF90.5 billion in 4Q18 and by 6.0% to HUF342.1 billion in FY18 on higher equipment sales and mobile data revenue. Hungarian mobile customers reached 5.330 million at end-2018 (end-2017: 5.293 million) and at subsidiary T-Mobile Macedonia 1.206 million (end-2017: 1.203 million).
Q4 2018 fixed division revenues (excluding IFRS 15 impacts) rose by 4.6% y-o-y to HUF53.9 billion, whilst the annual figure grew 5.0% to HUF205.9 billion in FY 2018, attributable to rising equipment sales as well as higher TV and broadband retail service turnover. SI/IT revenues grew by 12.2% y-o-y to HUF29.6 billion in 4Q18, resulting in 22.4% FY18 growth, primarily driven by public sector projects plus payment solutions for the banking sector.
EBITDA (excluding IFRS 9/15 impacts) increased by 9.4% y-o-y to HUF46.2 billion in Q4 2018 as higher operating income in Hungary offset a ‘temporary’ EBITDA decline at Telekom’s North Macedonia unit. EBITDA for the full year improved by 3.8% to HUF192.8 billion. Annual net profit from continuing operations increased by 16.1% to HUF46.7 billion.