Analyst Consensus

Magyar Telekom collects estimates from independent equity sell-side analysts covering the Company, compiling a consensus every quarter for the upcoming results.

The consensus is the arithmetic average of all available and meaningful estimates from equity analysts surrounding expectations for on Magyar Telekom's future financials results.

This information below has been published by Magyar Telekom for information purposes only and is not intended to constitute an investment recommendation or a direct investment recommendation. It is based on estimates and forecasts of various analysts regarding our revenues, EBITDA, EBIT, net income and EBITDA margin. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Magyar Telekom gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.

All figures exclude the impact of IFRS 16 implementation

The consensus numbers are updated as of May 6, 2019 and are based on estimates provided by the following brokerage houses: Concorde Securities Ltd.; Erste Group Bank AG; KBC; PKO Bank Polski; Raiffeisen Centrobank AG.; Santander Brokerage Poland and Wood & Co.

Magyar Telekom does not have any agreement with these brokerage houses for preparing investment recommendation and Magyar Telekom does not have ownership or other financial interest in these brokerage houses. Among the brokerage houses, only Concorde Securities Ltd. provides investment services (as a securities account manager) to Magyar Telekom. The estimates, which constitute the basis of the analyst consensus, are available from each brokerage house.