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'Magyar Telekom revenue, EBITDA decrease in first nine months'
(DMeurope Via Acquire Media NewsEdge) Magyar Telekom reported its revenue in the first nine months of 2009 down 4.4 percent to HUF 480.6 billion, from HUF 502.8 billion in the same period last year. In the same period, EBITDA decreased by 5.4 percent to HUF 202.3 billion, and the EBITDA margin fell slightly year-on-year to 42.1 percent from 42.5 percent. Profit for the period declined to HUF 80.5 billion from HUF 90.7 billion last year. Group revenues declined by 4.2 percent year-on-year in Q3, while EBITDA increased by 2.4 percent over Q3 2008. The Consumer Services Business Unit (CBU) posted revenues before intersegment elimination down 5.6 percent to HUF 81 billion, and EBITDA declined by 1.8 percent to HUF 48 billion compared to the same period of last year. CBU fixed-line revenues declined by 5.8 percent in Q3, driven mostly by the reduction in voice revenues as mobile substitution and migration towards different IP-based services resulted in increased churn in the customer base, putting pressure on traffic volume and average tariff levels. The number of broadband customers increased by 11 percent year-on-year reaching 576,000, while the number of total TV customers grew by 34 percent to 584,000 by the end of September with growth mostly driven by the satellite TV service, while demand for IPTV also strengthened. Total voice access lines dropped by 8.6 percent year-on-year to 1.78 million. CBU mobile revenues recorded a decline of 5.3 percent to HUF 48.2 billion in the third quarter. Although T-Mobile's residential customer base decreased by 0.7 percent to 4.4 million compared to end-September last year, T-Mobile was still able to slightly increase its market share to 44.2 percent of total SIM cards by end-September. Revenues at the Business Services Business Unit were down by 8 percent to HUF 39 billion, while EBITDA decreased by 7.2 percent to HUF20.4 billion. Fixed-line revenues were down by 12.8 percent, reflecting the recessionary impacts in the Hungarian economy, which lead to rationalisation and cost-cutting initiatives at key corporate clients and a reduction in their telecommunications spending. As a result, both voice and internet customer numbers decreased, while usage also declined driven by mobile substitution, resulting in lower voice and internet revenues. Mobile revenues decreased by 2.4 percent. SI/IT revenues declined by 11.2 percent in the third quarter, driven by the lower investment levels, both at the private and the public sector, in response to the current economic environment.
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