Positive signs for Magyar Telekom
November 6, 2019 21.19 Europe/London By Chris Dziadul
Magyar Telekom’s TV revenues in its home market Hungary increased by 4.9% year-on-year in Q3 to HUF11.1 billion (€33.6 million).
This, according to the company in its latest set of results, was attributable to an increase in IPTV customers.
As of the end of September, the company had a total of 1,138,345 TV customers, up 6.8% on a year earlier, while its blended TV ARPU was 2.1% lower at HUF3,284.
Total revenues for Magyar Telekom’s Hungarian business increased by 0.3% year-on-year in Q3 to HUF149.6 billion, of which HUF80.6 billion and HUF47.2 billion were for mobile and fixed services respectively.
Meanwhile, EBITDA increased by 14.3% year-on-year to HUF53.5 billion.
In North Macedonia, Magyar Telekom’s subsidiary saw its TV revenues increase by 14.1% year-on-year in Q3 to HUF1,143 million, while total revenues grew by 3.7% to HUF15.1 billion and EBITDA by 14.8% to HUF7.1 billion. The total number of TV customers rose by 4% to 133,499.
Magyar Telekom’s total revenues in Q3 were marginally higher (0.6%) at HUF164.6 billion than a year earlier. At the same time, gross profit was 1.9% higher at HUF95.4 billion.
In his comments on the results, CEO Tibor Rékasi said: “In line with our strategy, we remained diligently focused on growing our FMC customer base. In Q3 2019, our first FMC competitor entered the market following the approval of the merger of Vodafone and UPC. To maintain our competitive advantage, we have enhanced our Magenta1 offering which delivers highly attractive services and related equipment. In addition to enabling customers with a prepaid mobile tariff to take advantage of the Magenta 1 offer, we have also reviewed the offer to ensure its advantages are more clearly presented to customers. With the introduction of one bill first to our new Magenta1 customers they can truly see the advantages of being converged customers. Our FMC offer with its highly attractive services and related equipment, remains popular with our customers and supports the sustained growth in our FMC customer base”.