Magyar Telekom continues its network expansion: in the first half of 2026, the company expanded its fixed network with 170 thousand gigabit-capable access points, allowing customers to access the company's network through more than 4.2 million gigabit-capable endpoints nationwide. In parallel, outdoor 5G population coverage increased to 88%, meaning the company is well on track to reach its year-end target of 99% coverage. The company also successfully completed the previously announced migration of its 2G radio network traffic to Yettel's 2G network, while ensuring uninterrupted service for customers using it. By shutting down the older, less efficient technology, Magyar Telekom can dedicate the freed-up capacities to the further development of its 4G and 5G networks.
An increasing number of customers can enjoy the benefits of Magyar Telekom's network development. The number of mobile SIM cards requested from the company reached 6.6 million by the end of the half-year. The number of fixed fiber broadband subscribers rose by 10.3% to 1.1 million year-on-year, while the number of IPTV subscribers grew by 2.9% to 1.4 million compared to the same period of the previous year. Customers' average monthly mobile data usage also continues to grow dynamically, reaching 16.5GB in the first half of the year, which represents an 20.7% increase compared to the figures from a year earlier.
Thanks to a well-defined long-term strategy, the company's agility, and disciplined execution, Magyar Telekom's financial results continue to show stable performance and progressed in line with preliminary plans in the first half of the year. The Group's gross profit reached HUF 311.0 billion by the end of June, representing an 2.3% increase compared to last year. EBITDA AL was 1.6% higher than in the first half of 2025, amounting to HUF 202.2 billion. Furthermore, the company's adjusted net income rose by 2.9% year-on-year to HUF 113.7 billion in the first half of the year. Accordingly, the company reaffirms its previously stated targets for the current year.

Magyar Telekom today reported its consolidated financial results for the second quarter and first half of 2026, in accordance with International Financial Reporting Standards (IFRS) as endorsed by the EU. The half-year report contains unaudited figures.

Highlights for the second quarter of 2026

Total revenue was up 0.8% year-on-year, amounting to HUF 243.3 billion in Q2 2026, as the continued growth in the Hungarian telecommunication service revenue offset the YoY decline in SI/IT revenues and the unfavorable impact the forint strengthening had on the consolidated results of the North Macedonian subsidiary.

• Mobile revenue was up 1.5% year-on-year, amounting to HUF 145.4 billion in Q2 2026, reflecting continued growth in mobile data revenue partly counterbalanced by lower SMS revenues.
• Fixed line revenue increased by 1.7% year-on-year, to HUF 77.8 billion in Q2 2026 as increases in fixed broadband and higher equipment revenues offset the decline in voice retail and wholesale data revenues.
• System Integration and IT revenue was lower by 6.6% year-on-year, amounting to HUF 20.1 billion in Q2 2026. The decline reflects the absence of major projects which were present in the base period, in both countries, as well as the different in-year project distribution dynamic in Hungary.

Direct costs were moderately up year-on-year, at HUF 87.7 billion in Q2 2026, with lower interconnect costs offset by higher SI/IT related costs and bad debt expense.

Gross profit rose by 1.2% year-on-year, to HUF 155.7 billion in Q2 2026, thanks to higher gross profit from telecommunication services.

Indirect costs were up by 6.0% YoY, at HUF 47.2 billion in Q2 2026, primarily driven by absence of one-off incomes positively impacting the base period.

EBITDA was down by 0.8% year-on-year to HUF 108.4 billion in Q2 2026, due primarily to the absence of one-off gains; EBITDA AL was down by 0.7% year-on-year to HUF 100.9 billion in Q2 2026.

Depreciation and amortization (‘D&A’) expenses were broadly flat year-on-year, at HUF 36.3 billion in Q2 2026.

Profit for the period was moderately up year-on-year at HUF 58.0 billion in Q2 2026, thanks to more favorable financial results.

Profit attributable to non-controlling interests increased by 8.4% YoY, to HUF 1.8 billion in Q2 2026, as improvement in profitability at the North Macedonian operation counterbalanced the impact of the YoY weakening of the Macedonian denar against the forint.

Adjusted net income (adjusted profit attributable to owners of the parent) was down 1.5% year-on-year, amounting to HUF 55.0 billion in Q2 2026. Adjustment of negative HUF 1.2 billion in Q2 2026, was mostly related to unrealized financial gains driven by the strong appreciation of the HUF during the period.