The FINANCIAL — Revenues of Magyar Telekom, the operator T-Mobile network in Hungary, amounted HUF 205bn (€752m), decreasing by 3.3% year on year from HUF 212bn (€778m) registered in H1 2010.
This downward trend remained at similar levels during both the first and the second quarter 2011.
Fixed-line services revenues dipped to HUF 90.7bn (€333m) in H1 2011, declining by 6.3% year on year. Also, the mobile services segment noted a slight drop of revenue, from HUF 115.4bn (€423m) in H1 2010 to HUF 114.5bn (€420m) in H1 2011.
EBIDTA of Magyar Telekom in Hungary decreased by 26.1% year on year in Q2 2011. EBIDTA in H1 2011 amounted to HUF 66bn (€242m), which implies an 8.9% reduction, compared to HUF 72.5bn (€266m) in H1 2010.
The number of Magyar Telekom’s cable TV subscribers amounted to 330,000 at the end of June 2011, a decline of almost 70,000 in comparison to last year’s June-end. At the same time, the total number of the company’s IPTV subscribers reached 164,000, posting an increase of 76,000 new users in comparison to the end of June 2010. The customer base of Sat TV was increased by approximately 40,000 subscribers to 262,000 terminals at H1-end 2011.
Christopher Mattheisen, CEO of the company, expects stronger competition in H2 2011 due to the stagnating disposable income of Hungarian households. The company forecasts additional drops: in EBITDA (by 4-6%), in revenues (by 3-5%) and in investment (by 5%), calculated on an annual basis.
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