Yettel Achieved Double-Digit Revenue Growth Last Year

2022 was a good year for Yettel Hungary: the telecom operator's revenue grew at a double-digit rate to EUR 615 million in accordance with international accounting standards, while its profit after tax was slightly lower at EUR 6 million, József Takács, Deputy Chief Financial Officer of Yettel Hungary, said at a press briefing on Tuesday.

Profit showed a slight decline mainly due to a rise in financing costs, he said, adding that the final figures would be published in May.

Igor Prerovsky, CEO of Yettel Hungary, added that their network development program, on which they have spent HUF tens of billions, will be completed this year. Yettel's gradually expanding 5G network currently has more than 700 base stations nationwide with 5G mobile technology available, and now carries around 15% of mobile internet traffic. The number of 5G base stations will reach 1,000 by the end of the year, he said.

He said that data traffic is growing year on year, with an average annual growth rate of 80% over the last two to three years, while voice calls have seen single-digit growth.

Competition in mobile service provision in Hungary is strong between the three big players. According to the CEO, Hungarian mobile usage trends are clearly driven by the growth in data usage demand, and they will continue to focus on serving this demand.

Yettel is the new telecoms brand of Czech-based PPF Telecom Group, launched for Hungarian, Bulgarian and Serbian customers from 2022. PPF Telecom Group is one of the leading telecom operators in the Central and Eastern European region, comprising the telecom company Yettel and the telecom infrastructure company CETIN. The Group is present in five countries (Czech Republic, Slovakia, Hungary, Bulgaria and Serbia) and provides mobile, fixed line, data and internet TV services. It has 18 million mobile customers in the region, 1.1 million fixed broadband subscribers and more than 700,000 PayTV customers. The group has a total workforce of 12,700 employees.