Magyar Telekom posts 6.2% Q3 sales hike

Hungarian fixed and mobile operator Magyar Telekom reported that total revenue increased by 6.2% year-on-year to HUF178.1 billion (USD568 million) in Q3 2021, and by 4.6% y-o-y to HUF506.5 billion in the first nine months of the year, primarily driven by increases in service revenue, particularly mobile data, and ‘some increases in System Integration and IT sales’ in Hungary and at the group’s North Macedonian subsidiary. Mobile revenue increased by 6.5% to HUF98.6 billion in the three months to 30 September 2021, as mobile data growth offset lower retail voice revenue, while quarterly fixed division revenue increased by 2.2% to HUF56.3 billion as improvements in fixed broadband and TV turnover offset the decline in fixed voice revenue. EBITDA rose by 9.3% y-o-y to HUF66.4 billion for the quarter, although Q3 net loss widened by HUF4.3 billion y-o-y to HUF5.5 billion, influenced by an increase in financial expenses ‘partly driven by higher interest expenses, booked in relation to spectrum payment liabilities, and less favourable results relating to recognition of derivatives at fair value.’