Brief: Magyar Telekom Q3 net profit HUF 17.06 bln, above forecast

Magyar Telekom Telecommunications Public

08/11/2022 16:34

Nov 8 (Reuters) - Magyar Telekom Tavkozlesi Nyrt
 MTEL.BU :
    * Q3 NET PROFIT HUF 17.06 BILLION VERSUS HUF 15.6 BILLION
SEEN IN
SURVEY BY FINANCIAL NEWS WEBSITE PORTFOLIO.HU
    * Q3 EBITDA HUF 65.2 BILLION VERSUS HUF 64.9 BILLION IN
PORTFOLIO.HU SURVEY
    * Q3 REVENUE HUF 190.91 BILLION VERSUS HUF 191.2 BILLION IN
PORTFOLIO.HU SURVEY
    * SEES MODERATE DECLINE IN CORE PROFIT IN 2022
    * SEES MODERATE ANNUAL GROWTH IN REVENUE AND CORE PROFIT IN
2023
AND 2024
    * WE SEE CONTINUED PRESSURE ON OUR PROFITABILITY ARISING
FROM THE
INCREASINGLY CHALLENGING ECONOMIC ENVIRONMENT
    * WE HAVE UPGRADED OUR REVENUE TARGET FOR THE YEAR, FROM A
GROWTH
RATE OF 1-3% TO AROUND 5%
    * WE EXPECT THIS HIGHER RATE OF REVENUE GROWTH TO SUPPORT
OUR
EFFORTS TO PARTIALLY MITIGATE THE NEGATIVE EFFECTS OF COST
INFLATION AND ADDITIONAL TAX ON TELECOMS SECTOR

Further company coverage:  MTEL.BU 
 (Reporting by Gergely Szakacs)
 ((gergely.szakacs@reuters.com ; https://twitter.com/szakacsg ;
+36 1 882 3606 ;
https://www.reuters.com/journalists/gergely-szakacs))