Brief: Magyar Telekom swings into Q1 loss, flags new cost cuts

Magyar Telekom Telecommunications Public

13/05/2020 16:38

May 13 (Reuters) - Magyar Telekom Nyrt  MTEL.BU 
    * Q1 NET LOSS HUF 1.59 BILLION VERSUS HUF 0.8 BILLION PROFIT
SEEN
IN SURVEY BY FINANCIAL NEWS WEBSITE PORTFOLIO.HU
    * Q1 EBITDA HUF 46.4 BILLION VERSUS HUF 46.7 BILLION IN
PORTFOLIO.HU SURVEY
    * Q1 REVENUE HUF 159.3 BILLION VERSUS HUF 159.3 BILLION IN
PORTFOLIO.HU SURVEY
    * TARGETS BROADLY STABLE REVENUES IN 2020 AND 2021
    * TARGETS 1-2% ANNUAL INCREASE IN EBITDA IN 2020 AND 2021
    * CAPEX TO REMAIN BROADLY UNCHANGED IN 2020 AND 2021
    * FREE CASH-FLOW TO RISE BY ABOUT 5% IN 2020, REMAIN STABLE
IN
2021
    * TO STEADILY EXPAND 5G SERVICE COVERAGE OVER COMING MONTHS
    * IMPACT OF CURRENT CRISIS ON ITS FINANCES UNCERTAIN
    * EXPECTS STRONG DEMAND FOR TELECOMMUNICATIONS SERVICES
    * REGISTERED INCREASE IN VOICE AND DATA TRAFFIC SINCE START
OF
PANDEMIC, ROAMING TRAFFIC DECLINED
    * INCREASED USAGE LEVELS, FALLS IN FORINT EXCHANGE RATE TO
INCREASE COSTS, DENTING PROFITABILITY
    * TO LAUNCH FURTHER COST CUTTING MEASURES
    * COST CUTTING MEASURES CAN HELP ACHIEVE FULL-YEAR TARGETS

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))