Telenor Hungary’s net income impacted by ‘special taxes’

25 Oct 2012

Telenor Hungary (formerly known as Pannon) has reported a drop in both operating and net profits for the third quarter of this year, as ‘special taxes’ and a new government-imposed telephone tax (implemented in July) ate into its earnings before interest, taxes, depreciation and amortisation (EBITDA). The carrier, which is a unit of Norway’s Telenor, reported a 20% year-on-year fall in EBITDA in the three month ended 30 September 2012, impacted by payments of HUF2.5 billion (USD11.5 million) for the telephone tax and HUF2.4 billion in special taxes (i.e. crisis tax). Taken together, Telenor Hungary notes that the taxes alone are equivalent to 12% of the group’s total revenue for the period under review. Adding to its woes, Q3 2012 revenues dropped by HUF1.2 billion y-o-y, in part the result of a cut in termination fees in January that resulted in lower interconnect revenues. Operationally speaking, Telenor Hungary added a net 13,000 new mobile subscriptions in the July-September quarter, increasing its base to 3.458 million.

Hungary,Telenor Hungary,



Have feedback, corrections, or story ideas? Send them to

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.