Hungary's Magyar Telekom reports quarterly EBITDA of $175 mln (updated)

Magyar Telekom Telecommunications Public

22/02/2023 17:32

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       Feb 22 (Reuters) - Hungarian telecoms firm Magyar Telekom  MTEL.BU  on
Wednesday posted a 3.4% drop in EBITDA for the fourth quarter at 62.7 billion
forints ($174.9 million) from the previous year, and forecast a 5%-10% growth in
EBITDA and revenues in 2023.
    "Looking ahead to 2023, we expect continued pressure on our profitability
from the challenging economic environment, particularly from energy cost
pressures and increasing vendor costs," Magyar Telekom's chief Tibor Rékasi
said.
    The company, a unit of Deutsche Telekom  DTEGn.DE , reported a quarterly net
profit of 16.87 billion forints, down from 18.79 billion forints in the year-ago
quarter.
    Last year, the company had said it expected to show a "moderate decline" in
EBITDA in 2022, after the Hungarian government imposed windfall taxes on some
businesses to rein in the budget deficit.
    Magyar Telekom said in a separate statement that its board proposed a
dividend payment of 29.46 billion forints and a share buyback valued at 14.60
billion forints for 2022.
($1 = 358.45 forints)
 (Reporting by Juby Babu in Bengaluru; Editing by Shailesh Kuber)
 ((Juby.Babu@thomsonreuters.com;))