Magyar Telekom: Slight Growth in Q1 2020

Total revenues at the Magyar Telekom Group in the first quarter of 2020 amounted to HUF 159.333 billion, which is 0.2% higher compared to the corresponding period in 2019, according to the Group’s latest financial report. The operating profit in the first three months of the year was HUF 12.723, 1.1% more than a year before.

CEO Tibor Rékasi said he was pleased that “despite the negative impact of the COVID-19 pandemic towards the end of the quarter, thanks to continued focus on executing our commercial and strategic priorities, we delivered broadly stable total revenues and EBITDA year-on-year.”

He added that the company’s main focus since the outbreak of the coronavirus has been on the swift implementation of measures to safeguard the health and safety of both employees and customers. “We have introduced strict social distancing across the Group and, at this time, around 80% of our employees are working remotely. While the majority of our points of sale remain open, we have significantly limited traffic within stores. Our call centers and online support services are successfully handling the resulting increased volumes of customer requests. In an effort to support our customers during this challenging period, we are also providing free mobile data and TV content, a range of attractively priced laptops and tablets, free voice usage for the most vulnerable in our society as well as payment restructuring for customers in financial difficulties.”