Magyar Telekom third quarter 2021 results

Budapest,November 9, 20215:30 p.m.

Magyar Telekom (Reuters: MTEL.BU and Bloomberg: MTELEKOM HB, hereafter: Company), Hungary’s leading telecommunications service provider, today announced its consolidated financial results for the third quarter and first nine months of 2021 , in accordance with international financial reporting standards. (IFRS) as approved by the EU (hereafter: quarterly financial report). The quarterly financial report contains unaudited figures for each reporting period.

Financial Highlights:

  • Group revenue increased by 6.2% over one year in the third quarter of 2021, thanks to sustained positive momentum in all service categories, with particularly strong performance in mobile data and fixed broadband

  • Gross margin improved 6.8% year-on-year in the third quarter of 2021, driven by a higher contribution to revenue and the absence of a single tax charge on telecommunications recorded in the third quarter of 2020

  • 9.7% YoY EBITDA AL Growth in Q3 2021 Driven by Gross Margin Growth

  • Capex AL excluding spectrum licenses grew 6.6% year-on-year to HUF 28.2 billion in the third quarter of 2021 and stands at HUF 71.4 billion for the first nine months of 2021, due to differences in the timing of investments between the respective periods.

  • Free cash flow excluding spectrum licenses (i.e. without one-time spectrum license fees) amounted to HUF 34.4 billion in the first nine months of 2021, reflecting a strong generation of EBITDA, partially offset by payments related to investments and changes in working capital

Operational highlights

  • The average monthly mobile data consumption among Hungarian customers continued to increase strongly, registering an increase of over 30% in one year and reached 7.9 GB / month in the third quarter of 2021.

  • Monetization of our gigabit network continued with over one million customers now connected to the network via Gigabit technology

  • ISS Corporate Solutions has ranked Magyar Telekom among the best performers in the telecommunications industry globally in terms of corporate sustainability credentials, awarding Magyar Telekom a “B” rating which equates to “Prime” status

  • Following its annual credit rating review, Scope Ratings GmbH confirmed Magyar Telekom to BBB + with a stable outlook

Tibor Rékasi, CEO of Magyar Telekom said:

“Our operating environment continued to develop favorably in the third quarter of 2021 as the effects of COVID-19 abated further, both for Magyar Telekom and the broader market. In line with our strategy, we have continued to build and modernize our Gigabit capable network. and by the end of the third quarter, we reached 2.89 million access points.

Magyar Telekom has experienced significant year-over-year growth in terms of revenue, gross margin and EBITDA. This is a testament to the excellent quality of our network and the exceptional satisfaction of our customers, which has enabled us to successfully monetize the strong market demand for our telecommunications and data services. “

This investor news contains forward-looking statements. Statements that are not historical facts, including statements regarding our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not be relied upon unduly. Forward-looking statements speak only as of the date they are made, and we do not undertake to update them publicly in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors are described, inter alia, in our annual financial statements for the year ended December 31, 2020, available on our website at, which have been prepared in accordance with international standards. financial reporting (“IFRS”) as published by the International Accounting Standards Board (“IASB”) and adopted by the European Union.



Magyar Telekom Nyrt. published this content on November 09, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 09 November 2021 04:44:09 PM UTC.

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