Macedonia’s incumbent PTO Makedonski Telekomunikacii (MakTel), which is 51%-owned by Hungary’s Magyar Telekom, booked a 12.4% annual fall in turnover to HUF18.2 billion (USD79.5 million) for the three months to 30 September 2011, while EBITDA slipped by 13.4%. The telco’s majority shareholder attributed the drop in sales in part, to the negative effect on revenue contribution caused by the strengthening Hungarian forint against the local currency, the Macedonian denar, in the third quarter of 2011, as compared to 2010. Meanwhile, the fall in EBITDA was the result of intense competition in the local mobile market, which impacted on pricing strategies and a rise in handset subsidies, which MakTel failed to offset despite reducing other operating expenses.
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OVETEL MakTel third-quarter revenues down 12%; main shareholder to invest EUR180m
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