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Magyar Telekom (MTELEKOM) investor relations material

Magyar Telekom Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság
Q3 2025 earnings summary13 Nov, 2025

Executive summary

  • Q3 2025 revenue declined 1.3% year-over-year to HUF 242.9bn, mainly due to weaker SI/IT and equipment sales, partially offset by service revenue growth and ViDaNet deconsolidation.

  • Service revenue grew 1.9% year-over-year, supported by customer base expansion and higher ARPU from increased data demand.

  • EBITDA AL increased 13.5% year-over-year, driven by gross profit improvement and expiry of the supplementary telecom tax.

  • Net income increased 20% year-over-year to HUF 55.2bn, reflecting higher EBITDA and improved net financial result.

  • Free cash flow for 9M 2025 surged 65.8% year-over-year to HUF 179.8bn, aided by EBITDA uplift, working capital improvements, and ViDaNet sale proceeds.

Financial highlights

  • Q3 2025 revenue: HUF 242.9bn (-1.3% YoY); 9M 2025 revenue: HUF 725.8bn (+2.1% YoY).

  • Q3 2025 EBITDA AL: HUF 100.6bn (+13.5% YoY); 9M 2025 EBITDA AL: HUF 299.6bn (+17.3% YoY).

  • Q3 2025 net income: HUF 55.2bn (+20% YoY); 9M 2025 net income: HUF 165.6bn (+29% YoY).

  • Free cash flow (9M 2025): HUF 179.8bn (+65.8% YoY).

  • Net debt decreased 12.8% to HUF 292.9bn; net debt/EBITDA improved to 0.72.

Outlook and guidance

  • 2025 guidance reiterated: revenue growth of 1–3%, EBITDA AL growth of ~15%, and free cash flow of at least HUF 200bn.

  • Adjusted net income and free cash flow expected to reach at least HUF 200bn each.

  • No inflation-based fee adjustment for consumers in H1 2026; economic and competitive uncertainties in Hungary closely monitored.

  • North Macedonia faces potential intensified competition with possible new market entrant.

Supplementary telecom tax impact on Q3 EBITDA AL
Hungary Q3 Capex AL: asset retirement obligation
ViDaNet sale: cash vs non-cash components
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Q4 20258 Apr, 2026
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Q4 20258 Apr, 2026

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