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Budapest, August 10, 2021 17:30
Magyar Telekom (Reuters: MTEL.BU and
Bloomberg: MTELEKOM HB), the leading Hungarian telecommunications service
provider, today reported its consolidated financial results for the second quarter and first half of
2021, in accordance with International Financial Reporting
Standards (IFRS) as endorsed by the EU (hereinafter: half-year report). The half-year
report contains unaudited figures for each reporting period.
Financial highlights:
Operational highlights
Tibor Rékasi, Magyar Telekom CEO commented:
“During the second quarter, we leveraged the improving trends in our operating environment as the impact of COVID-19 diminished on our market and Magyar Telekom’s operations throughout the quarter. In line with our strategy, we took further steps in implementing our ‘Digitize Hungary’ framework by launching a digital development initiative tailored for SMEs. In parallel, our network development continued at pace covering 2.75 million access points with the Gigabit capable network.
This strong momentum across our operations is reflected in our financial performance in the quarter, which saw broad-based growth in both revenues and EBITDA year-on-year as we continued to successfully monetize the robust market demand for telecommunications services and data. Looking ahead to the second half and taking into account this strong set of results, we believe we are well positioned to outperform our originally communicated revenue and EBITDA growth targets for 2021.”
This investor news contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our annual financial statements for the year ended December 31, 2020, available on our website at http://www.telekom.hu which have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and adopted by the European Union.
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