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Magyar Telekom Results for Q4 and 2019

Financial results News - Published on Wed, 19 Feb 2020

Image Source: BBJ
Magyar Telekom has reported its consolidated financial results for the fourth quarter and full year of 2019. Total revenues increased by 4.1% year-on-year to HUF 182.3 billion in Q4 2019, attributable to the recovery in the Hungarian System Integration and IT revenues coupled with continued growth in mobile data revenues in both countries of operation. Total revenue for the year amounted to HUF 666.7 billion, up 1.5% versus 2018, as growth in service revenues and increased equipment sales offset a reduction in SI/IT revenues.
Mobile revenues grew by 3.3% year-on-year to HUF 94.5 billion in Q4 2019 and HUF 354.4 billion in 2019, as growth in mobile data revenues helped to offset lower voice revenues in both countries of operation.
Fixed line revenues were 1.8% higher year-on-year at HUF 55.0 billion in Q4 2019 and 2.8% higher at HUF 212.7 billion for the full year, attributable to rising TV and broadband retail service revenues.
System Integration (SI) and IT revenues increased by 10.9% year-on-year to HUF 32.8 billion in Q4 2019, driven by strong growth in both

Gross profit increased by 1.3% year-on-year to HUF 94.1 billion in Q4 2019 and by 1.1% to HUF 374.2 billion for the full year 2019. This result is broadly attributable to the improved performance of telecommunication services, partly offset by lower SI/IT profit contribution.

EBITDA increased by 23.4% year-on-year to HUF 57.6 billion in Q4 2019, and by 14.6% year-on-year to HUF 220.6 billion in 2019. Excluding the impact of IFRS 16 adoption, EBITDA was up 12.4% year-on-year in Q4 2019 and up 4.4% year-on-year in the full year.
Profit for the period increased from HUF 7.7 billion in Q4 2018 to HUF 13.0 billion in Q4 2019, attributable to improvements in both operating and financial results. For the full year 2019, net profit declined by 4.2% year-on-year to HUF 44.5 billion, reflecting the unfavourable impact of IFRS 16 adoption coupled with higher D&A expenses which offset the underlying improvement in operating results.

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Posted By : TelecomGuru on Wed, 19 Feb 2020
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