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Magyar Telekom

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Magyar Telekom Switches Off its 3G Mobile Network

Jul 1, 2022

Magyar Telekom, the leading Hungarian telecommunications service provider, has announced that it has switched off its 3G network, which is no longer available anywhere as of today. The Company is also preparing for the needs of the future and will continue its multiyear network modernization program launched in 2020. The purpose of the modernization is […]

Magyar Telekom to Acquire Fiber Network

Jun 18, 2022

Magyar Telekom, the leading Hungarian telecommunications service provider, has announced on the website of the Budapest Stock Exchange that it has exercised its call option on the business quota of Cecoin Ltd. allowing it to acquire a fiber network covering 110,000 access points in Hungary for a purchase price of HUF 6.95 billion. In 2014, […]

Magyar Telekom to Introduce Four-Day Working Week

Jun 9, 2022

Magyar Telekom will be the first company in the Hungarian corporate sector to test the four-day working week as part of a pilot project, the company announced in a statement this Thursday. The large-scale experiment, which will run for four months with the involvement of several departments, is primarily aimed at gathering experience and information. […]

Magyar Telekom to Pay HUF 25 Bn 'Extra Profit' Tax

Jun 6, 2022

Hungary’s leading telecommunications service provider Magyar Telekom has announced that under Government Decree 197/2022. (VI.4.) on the extra profit taxes, the expected magnitude of supplementary telecommunication tax payable by Magyar Telekom Group for the year 2022 is approximately HUF 25 billion. The company statement highlights that on June 4, 2022 the Hungarian government issued a […]

Good First Quarter Results at Magyar Telekom

May 11, 2022

Hungary's largest telecommunication operator, Magyar Telekom maintained strong momentum across its business lines, as the Group revenue grew by 8.4% year-on-year in the first quarter of 2022, the company announced on the website of the Budapest Stock Exchange this Wednesday. According to the statement, the revenue growth is owed to continued expansion of the customer […]

Good Year for Magyar Telekom

Feb 25, 2022

Total revenue at the Hungarian telecommunications service provider Magyar Telekom increased by 2.5% year-on-year to HUF 193.6 billion in Q4 2021, or 4.0% year-on-year to HUF 700.1 billion for the full year, primarily driven by increases in telecommunication service revenue, particularly mobile data which offset the lower System Integration and IT (SI/IT) sales in both […]

Magyar Telekom Cancels ADSs on the London Stock Exchange

Dec 2, 2021

Magyar Telekom, the leading Hungarian telecommunications service provider has announced that the Board of Directors of the Company decided to request the cancellation of admission to trading of its American Depositary Shares (ADSs) on the London Stock Exchange’s International Order Book (IOBU market segment) with effect from December 30, 2021. The company has notified the […]

Telekom KraftLab for Creative Youth in Debrecen

Sep 29, 2021

A unique undertaking by a brand: for those who lacked the space, the community or the tools to realize their innovative ideas, Telekom's new youth creative space, KraftLab, opening in Debrecen, provides all the necessary conditions for them to fulfil their potential, according to a press release by Magyar Telekom. KraftLab also demonstrates the power […]

Modest Revenue Increase at Magyar Telekom

Feb 28, 2021

Hungary’s largest telecommunications service provider Magyar Telekom reported its consolidated financial results for the fourth quarter and full year of 2020, in accordance with International Financial Reporting Standards (IFRS) as endorsed by the EU. Total revenues increased by 3.6% year-on-year to HUF 188.9 billion in Q4 2020 thanks to increases in telecommunication service revenues in […]

Magyar Telekom headquarters in Budapest

Magyar Telekom Acquires Frequency Usage Rights

Jan 30, 2021

Magyar Telekom, the leading Hungarian telecommunications service provider has announced that – in the auction procedure for the entitlements of frequency use of the 900 MHz and the 1800 MHz frequency bands –, it has won the rights of use of 2×8 MHz in the 900 MHz band for HUF 18.48 billion and 2×20 MHz […]

Telekom, BME and Ericsson: Joint Research on 5G

Dec 12, 2020

Magyar Telekom, the Budapest University of Technology and Economics (BME) and Ericsson Hungary have launched a research and development project in the field of 5G, the fifth-generation mobile technology. A press statement by Magyar Telekom says that leveraging on the frequencies provided by Magyar Telekom for BME’s educational and research purposes, Ericsson has built and […]

Profit Increase at Magyar Telekom

Nov 7, 2020

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 […]

New CEO at T-Systems Hungary

Sep 22, 2020

Magyar Telekom, the leading Hungarian telecommunications service provider, has announced that based on the decision of the Company's Board of Directors, Gábor Gonda will be the Chief Commercial Officer Enterprise and CEO of T-Systems Magyarország Zrt. as of November 2, 2020. Gábor Gonda takes on his new position as the CEO of T-Systems with 21 […]

Telekom Expands 5G Service Area in Hungary

Aug 26, 2020

By the end of August, Magyar Telekom’s service achieved another milestone by switching on dozens of new stations, and thus, the commercial service, offering gigabit download speed is already available in 23 settlements, a press release by the company says. On April 9, Magyar Telekom launched their commercial 5G service, which can be used with […]

Declining Revenues at Magyar Telekom

Aug 6, 2020

Magyar Telekom has published its financial results for the second quarter and first half of 2020 on the website of the Budapest Stock Exchange. Among the financial highlights, the company says revenues declined by HUF 3.6 billion, or 2.2% year-on-year, to HUF 157.2 billion in Q2 2020, driven by lower contribution from the SI/IT business […]

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