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Magyar Telekom boasts 10.9% Q2 sales hike

10 Aug 2022

Hungary’s Magyar Telekom reported that its total group revenue increased by 10.9% year-on-year to HUF184.2 billion (USD475 million) in Q2 2022 and by 9.6% y-o-y to HUF360.1 billion in the first six months of 2022. Improvement was primarily driven by the strong growth in mobile data and higher equipment sales whilst weakening of the Hungarian forint against the North Macedonian denar amplified the group’s North Macedonian subsidiary’s contribution. Mobile revenue rose by 12.2% y-o-y to HUF104.8 billion in 2Q22, driven by growth in mobile data revenue and higher equipment sales which offset lower voice revenue at both countries of operation.

Fixed network division revenue increased by 7.7% y-o-y to HUF59.3 billion in Q2 2022 thanks primarily to increases in fixed broadband and TV revenues driven by subscription base expansion in Hungary. Fixed voice retail revenue declined by 6.7% y-o-y to HUF8.7 billion in the quarter ended 30 June, reflecting the continued slow decline in the Hungarian fixed voice subscription base, lower usage levels and general price pressure, particularly within the business market. Fixed broadband retail revenues rose 17.6% y-o-y to HUF18.0 billion in April-June 2022, as the positive impact of the continued subscription expansion in both countries and continued migration to higher bandwidth packages in Hungary was further strengthened by the absence in 2Q22 of a former mandatory monthly fee allowance that still partly applied in Q2 2021 for Hungarian students and teachers to help with online education during the pandemic.

Hungary, Magyar Telekom

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