Indicator – Economy – Magyar Telekom’s income exceeds expectations

According to the report, the increase was primarily due to big mobile data and higher device sales, while the contribution of the North Macedonian subsidiary was further boosted by the weakening of the Hungarian forint against the North Macedonian dinar. In the first half of this year, total revenue increased by 9.6 percent to HUF 360.1 billion, and profit after tax increased by 26.4 percent to HUF 31.1 billion.

The customer base in Hungary continues to expand

Among the operational results, the continued expansion of the customer base in Hungary was highlighted: in one year, the number of fixed broadband subscriptions increased by 7.3 percent, the number of television subscriptions by 6.1 percent, while the number of contractual mobile SIM cards increased by 5.1 percent in the second quarter. The number of mobile phone chips exceeded 5.81 million. Optical network penetration in Hungary continued to grow in parallel with the expansion of coverage; The number of optics customers grew 27 percent annually at the end of June 2022. Mobile data usage continued to grow, with average monthly usage reaching 9.1 GB in the second quarter of 2022, MTI reports.

Despite strongly increasing macroeconomic pressure, Magyar Telekom maintained its strong momentum in the second quarter. They have been able to meet the continued strong demand for mobile data, broadband and television services thanks to excellent customer service and investments in fixed and mobile networks.

He added: The additional fees provided on communications had an impact on its profitability, in the first half of 2022, EBITDA AL showed operating performance, that is, profit before interest, payment of taxes and amortization, corrected by depreciation and interest calculated after the right to use the asset decreased by approximately 10 percent. The impact of the additional telecom tax on second-quarter results was stronger.

See also  Washington gave Merkel a strong warning

The company continues to maintain its goals for this year

They anticipate that as a result of the inflationary environment and the weakening of the forint, increased pressure will be placed on their costs, while a potential economic downturn may have a negative impact on revenues. They have already adjusted their strategic goals after the introduction of the additional telecom tax, and they are maintaining their targets for 2022: according to the company’s overall goals, they expect an increase of 1-3 percent in revenue (700 billion HUF) for this. general. The capital expenditure (investment in tangible and intangible assets) without spectrum license fees could be the same as HUF 109.3 billion in 2021.

Leave a Reply

Your email address will not be published.