Magyar Telekom reports ‘stable’ 1Q results for Invitel

11 May 2006

Hungary’s dominant telecoms operator Magyar Telecom has today reported its financial results for its operating unit Invitel for the first quarter ended 31 March 2006. The unit recorded a 1% dip in revenues to HUF11 billion (EUR2.3 million) for the quarter, compared to the corresponding period of 2005, although its gross margin percentage remained strong at 74%, despite increased competition. Recurring EBITDA was HUF5 billion, compared to HUF5.3 billion a year ago.

Magyar Telekom said that Invitel had 58,095 retail broadband internet customers at the end of the quarter, up 62% year-on-year from 22,282 previously. The number of residential voice telephony contracts increased from 19,624 to 104,967, while the number of business voice customers grew by 792 to a total of 1,884. Commenting on the results Martin Lea, CEO of Invitel, said: ‘We continue to deliver healthy revenues in spite of an increase in fixed line competition in 2005. Slowing mobile substitution is going to result in more stable in concession voice revenues. Broadband internet access continues to grow strongly helped by ADSL’s further increase in market share at the expense of cable.’

Hungary,Magyar Telekom,

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