Magyar Telekom’s revenues in the second quarter amounted to HUF160,754 million (€465.1 million), or 2.2% less than in the same period last year.
Its profit, at HUF10,543 million, was 21,3% lower than in Q2 2019.
In its latest set of results, the company says that it its home market Hungary the TV subscriber base increased by 6.2% to 1,191,293 in the year to June 30. However, blended TV ARPU fell by 0.3% to HUF3,292 over the same period.
In North Macedonia, the number of TV customers increased by 4.7% to 138,034.
Commenting on the results, Tibor Rékasi, Magyar Telekom CEO, said: “Magyar Telekom has been through an extremely challenging second quarter with Covid-19 impacting our operations in many ways. I am very proud that we supported families, communities as well as businesses allowing for enhanced digital cooperation during this extraordinary period. At the same time, we were equally successful in preserving the profitability of Magyar Telekom by delivering strong results in the second quarter despite fast-changing external conditions.
“We have decided to fast-track the development of our fibre network to enhance broadband coverage, driving our 2020 investments higher than we anticipated earlier. Early signs of changing customer behavior in light of Covid-19 proves that we are on the right track.We expect these investments to further reinforce our position as a trusted provider of seamless telecommunications services in both Hungary and North Macedonia, which will be key to leveraging favorable long-term trends accelerated by recent developments.
“Looking ahead to the second half of 2020, we will focus on delivering our previously announced EBITDA AL target”.
