Magyar Telekom saw a 6.5% increase in its TV subscriber base in Hungary in the year to March 31.
In its latest set of results, the company says that it ended the first quarter with a total of 1,256,161, up from 1,179,394 in Q1 2020. Meanwhile, its blended TVARPU rose by 1.5% in the same period to HUF3,323 (€9.27). TV revenues in Q1 were, at HUF12,434 million, 8.3% higher than in the corresponding quarter last year.
Meanwhile, its daughter operation in North Macedonia ended Q1 with 143,328 TV customers, or 4.3% more than a year earlier. TV revenues in Q1 were HUF1,363 million, or 10.5% higher than a year earlier.
Magyar Telekom as a whole had revenues of HUF162,299 million in Q1, a 1.9% increase on a year earlier. Its EBITDA was HUF50,194 million (+8.2%) and profit attributable to owners of the parent HUF8,902 million, which contrasted with a loss of HUH1,593 million a year earlier.
In his comments on the results, Tibor Rékasi, Magyar Telekom CEO, said: “The operating environment during the first quarter of 2021 has been challenging as the emergence of a third wave of COVID-19 proved to be more severe than previous rounds. However, thanks to our agile approach, Magyar Telekom was able to adapt swiftly to evolving conditions and build on lessons learned throughout the pandemic to improve our financial and operational performance. EBITDA amounted to HUF 50.2 billion in the first quarter, a considerable achievement, and one which will serve as a solid base from which we should be able to deliver in line with our guidance.
“Magyar Telekom also secured 900 MHz and 1800 MHz frequency band rights during the quarter, a significant milestone which will allow our customers to continue to use our mobile services and innovative solutions at the usual high standards. I am confident that this investment, together with continuous development of the gigabit capable network, will enable us to not only enhance the lives of our customers, but also to the economic success of Hungary”.
