Leading Hungarian telco Matav has reported a net income of E293 million for 2001, up 9.4% on 2000. Revenue was up by 22.8%, thanks largely to mobile unit Westel. Its revenues were up 29%.
Matav’s Macedonian subsidiary Maktel also made a strong contribution. However, operating expenses were much higher. In particular, miscellaneous expenses were up by 24.8%, while payments to other operators rose by 30.6%.
In the company’s core domestic fixed-line business, revenues were up by just 2.3%. Still, this is a problem suffered by all incumbent telecoms firms. More worrying is the saturation of the Hungarian mobile market: many analysts fear the company will have a tough time meeting its high single digit growth target for 2002.