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Magyar Telekom Tavkozlesi Nyrt Announces Near and Mid-Term Outlook for FY 2014-2017

Monday, 30 Sep 2013 11:41am EDT 

Magyar Telekom Tavkozlesi Nyrt (Magyar Telekom) announced that its senior management team gave a detailed view on the Company‚Äôs strategic and financial targets for the period 2014 to 2017. Following on from 2012 when the decline in revenues was reversed, Magyar Telekom forecasts revenues to grow by 2017 by around a 2% compound annual growth rate (CAGR) compared with 2012 levels. Although Group EBITDA is still expected to decline in 2014, equivalent to a compound annual decline rate of 6%-8% compared with 2012, by 2017 the 2013 EBITDA level will be surpassed. These positive developments in EBITDA will not just be down to increases in revenue but also boosted by an average reduction of 2% per annum by 2017 compared to 2012 in indirect costs (excluding the telecommunication and utility taxes, and depreciation and amortization). Magyar Telekom also intends to reduce its capital expenditures (CAPEX) going forward and targets spend of ca. HUF 87 billion in 2014 falling to ca. HUF 80 billion in 2017. Mirroring the turnaround in EBITDA, Magyar Telekom expects its free cash flow to start to improve from 2015 onwards, with the 2012 level expected to be exceeded in 2017. It is then that Magyar Telekom will be judged to have achieved a complete financial performance turnaround. 

Company Quote

-0.03 -0.46%
19 Dec 2014