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Magyar Telekom Telecommunications PLC
MTA.NISIN: US5597761098SEDOL: 2125354 |
Rating: STRONG SELL |
Target Price: 11.34 USD |
Investment Horizon: 6 to 12 months |
9M 08 Update Report
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Magyar reported a 0.2% y-o-y decline in revenues in 9M 08. However, EBITDA, operating and net income increased significantly due to lower operating and income tax expenses. Going forward, we continue to expect Magyar to face intensified competition in Hungary and Montenegro. In addition, the Fixed line service segment (T-com) is expected to display sluggish revenue growth. However, we expect the Mobile service segment (T-Mobile) to…
3Q 08 News Alert
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Magyar Telekom Telecommunications Plc (Magyar) reported 0.2% y-o-y decline in revenues in 9M 08. However, EBITDA, operating income and net income increased significantly on y-o-y basis, due to lower operating expenses and lower income tax expenses. Going forward, we continue to expect revenues from the T-Mobile segment to remain under pressure, primarily due to high penetration rates and intensified competition in Hungary and Montenegro....
Company News Alert
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Magyar Telekom Telecommunications Plc’s (Magyar) common stock has declined significantly since our 1Q 08 update report, reflecting weak investor sentiments prevailing in the worldwide equity markets, following the financial crisis and liquidity crunch in the US and European economy. Going forward, in light of miniscule sales growth, high penetration rates and intensified competition, we do not anticipate any major upside from current levels....
2Q 08 News Alert
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In 1H 08, Magyar Telekom Telecommunications Plc (Magyar) reported 2.2% y-o-y growth in revenues, in line with our estimate. Revenues were in line with our estimate and EBITDA and operating margins were broadly in line with our estimates. Net income increased significantly as underlying performance at operating level was augmented by lower tax expenses....
1Q 08 Update Report
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Magyar Telekom Telecommunications Plc (Magyar) 1Q 08 revenues increased marginally by 0.9% y-o-y to HUF162,640 mn, in line with our estimate of HUF164,347 mn. The y-o-y growth in revenues was primarily driven by higher revenues from System Integration/Information technology (T-System), partially offset by a decline in revenues from Fixed-line (T-Com)....
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