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Magyar Telekom’s Q1 turnover rose by 12.5%

12 May 2023

Hungary’s Magyar Telekom reported that its total revenue increased by 12.5% year-on-year to HUF195.9 billion (USD577 million) in Q1 2023, primarily driven by strong growth in mobile data, higher ‘system integration and IT’ revenue and continued increases in fixed broadband turnover, whilst the introduction of inflation-based fee adjustment to Hungarian subscription fees also contributed to the increase. Mobile revenue rose by 10.6% y-o-y to HUF112.3 billion in Q1 2023, driven by the continued growth in mobile data revenue and a moderate increase in voice retail revenue. Fixed network revenue increased by 10.9% y-o-y to HUF63.1 billion in 1Q23, driven mainly by fixed broadband and TV customer base expansion (further supported by inflation-based fee adjustment). Fixed broadband retail turnover rose 20.7% to HUF21.0 billion in the quarter as ARPU continued to improve alongside subscription volume growth.

Group EBITDA declined by 6.6% y-o-y in January-March 2023, to HUF58.0 billion. CAPEX (after leases) was 2.3% higher y-o-y in 1Q23, at HUF23.5 billion. Net profit attributable to shareholders was 43.0% lower than the year-ago period, reaching HUF10.5 billion in Q1 2023.

Telekom’s Hungarian fixed broadband subscriptions reached 1.53 million at end-March 2023, up from 1.44 million twelve months earlier, including fibre broadband subscriptions which reached 731,000 (March 2022: 576,000). Hungarian mobile subscriptions excluding M2M stood at 5.15 million at 31 March 2023, up from 5.07 million a year before.

Hungary, Magyar Telekom

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