Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Magyar Telekom Unexpectedly Posts 4th Quarter Loss on Tax

Don't Miss Out —
Follow us on:

Feb. 28 (Bloomberg) -- Magyar Telekom Nyrt., the Hungarian phone unit of Deutsche Telekom AG, unexpectedly posted a fourth-quarter loss as a new telephone tax wiped out profit and as management forecast declining sales for this year.

The loss attributable to owners of the parent was 1.6 billion forint ($7.1 million) in October-December, compared with a 40.3 billion forint loss a year earlier, the company said in a statement to the Budapest bourse today. The mean estimate of six analysts surveyed by Bloomberg was a profit of 505 million forint.

Earnings before interest, taxes, depreciation and amortization, an indicator closely watched by analysts and investors, may decline by 4 percent to 7 percent this year while sales revenue may decline as much as 3 percent, Chief Executive Officer Christopher Mattheisen forecast in the report.

Ebitda in the fourth quarter declined 21 percent to 37 billion forint as a new phone-call tax cost the company an extra 4.4 billion forint compared with the year-ago period. Ebitda fell 9.1 percent to 52.5 billion forint when excluding investigation-related costs and provisions, severance expenses and extraordinary taxes.

Link to Company News:{DTE GR <Equity> CN <GO>} Link to Company News:{MTELEKOM HB <Equity> CN <GO>}

To contact the editor responsible for this story: Zoltan Simon at zsimon@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.