4iG looks to further expand
JUNE 1, 2023 09.19 EUROPE/LONDON BY CHRIS DZIADUL

Hungary’s 4iG may expand its IT/SI business into global markets in the near future, through joint ventures with Rheinmetall.

The group, which has established a strong presence in Hungary’s media and telecom industry, including the recent acquisition of Vodafone’s local operation in January this year, provided the news in a flash report on its performance in the first quarter.

Consolidated net revenues in Q1 amounted to HUF115.2 billion (€301.7 million), up 135% on the same period in 2021. EBITDA exceeded HUF36 billion (+131%), and 87.4% of net sales revenue was generated by its telecom division and 12.6% by its IT division.

However, the group also had a loss of HUF1.2 billion, compared to a profit of HUF809 million a year earlier.

Aside from Hungary, 4iG also has interests in Albania and Montenegro.

Furthermore, it owns a 20% stake in Israel’s Spacecom, with a view to increasing this to 51% in the next three years.