Profit Increase at Magyar Telekom

Magyar Telekom's consolidated after-tax profit increased by 50.9% to HUF 19.7 billion in the third quarter of this year, exceeding analysts' expectations, and sales increased by 1.8% to HUF 167.7 billion.

In the first nine months of this year, Magyar Telekom's group-level sales remained unchanged at HUF 484.2 billion, and after tax profit decreased by 3.7% to HUF 30.4 billion.

Magyar Telekom’s CEO, Tibor Rékasi is quoted in the company's report published at the website of the Budapest Stock Exchange::
“Magyar Telekom continued to deliver a robust performance in the third quarter of 2020, remaining on track to meet the Group’s annual public
targets for 2020. As EBITDA generation improved, accelerated investment into the fixed network allowed Magyar Telekomto provide a further 100
thousand households with fiber access. As a first mover in the domestic market Magyar Telekom has been offering gigabit speed on the 5G mobile
network.
Looking ahead, I believe Magyar Telekom is well placed to provide a broader range of content, enhanced connectivity and greater flexibility to our
customers as these services become even more important in an uncertain environment affected by COVID-19.”