4iG (4IG) H2 2024 earnings summary

Executive summary

• Achieved record FY 2024 revenue of HUF 700.4 Bn, up 18% year-over-year, and normalized EBITDA of HUF 238.0 Bn, up 26% from FY 2023.

• Continued international expansion, notably in Albania and Macedonia, and strengthened presence in existing markets.

• Space and Defence business advanced with new partnerships and agreements, including collaborations with Axiom Space and Creotech Instruments.

• Transformation in Hungary with the rebranding of ComCo to ONE, unifying the customer portfolio and cross-selling opportunities.

Financial highlights

• Q4 2024 net revenues rose 10.9% year-over-year to HUF 192.6 Bn, driven by IT expansion and contract portfolio growth.

• Q4 normalized EBITDA increased 18.7% to HUF 64.98 Bn; EBITDA margin improved to 33.7%.

• FY 2024 normalized EBITDA reached HUF 237.99 Bn, up 26% year-over-year; EBITDA margin at 34.0%.

• Net sales revenue growth attributed to acquisitions, mobile segment demand, and higher ARPU.

• Adjusted FY 2024 EBITDA (excluding windfall tax and restructuring) was HUF 252.7 Bn.

Outlook and guidance

• Ongoing focus on international expansion and integration of acquired businesses.

• Continued investment in 5G and satellite programs, especially in Albania and Hungary.

• Further brand consolidation under ONE and operational integration planned for 2025.