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Magyar Telekom 2018 revenues grow on systems integration, mobile data, equipment sales

21 Feb 2019

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.

Hungary, North Macedonia, Magyar Telekom, T-Mobile Macedonia

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