telecommunications — english language news service
15.05.2008« [telecommunications — телекоммуникация — telekommunikation]
hungary — htcc (invitel) q1 revenues up 168%
Alternative fixed line and broadband operator Hungarian Telephone and Cable Corp (HTCC), which trades under the Invitel banner, has reported revenue of USD131.5 million for its first quarter ended 31 March 2008, up 168% compared to revenue of USD49.1 million for the first quarter 2007. HTCC said its gross margin increased by 216% to USD75.8 million, from USD24 million in Q1 2007, while income from operations rose 236% from USD6.7 million to USD22.5 million. HTCC's net income attributable to common stockholders for the first quarter 2008 was USD4 million, compared with a net loss of USD54.7 million in the first quarter 2007. HTCC saw its ADSL subscriber base increase by 12,000 to 124,000 in the year to 31 March, mainly due to the addition of Invitel to its portfolio. The company is hoping to launch an IPTV service in the near future and said income from internet services rose from USD1.1 million in Q1 2007 to USD13.5 million a year later. Commenting on the results, HTCC president and CEO Martin Lea said: 'I am very pleased with our first quarter 2008 financial results. One year after the Invitel acquisition and the installation of a new management team and six months after the Tele2 Hungary acquisition, I am happy to report that we have made excellent progress in combining the companies and capitalising on the synergies and growth opportunities.’
Source: TeleGeography's CommsUpdate
htcc (invitel)
Hungarian Telephone and Cable Corp. (HTCC) is a telecommunications provider operating in Hungary through its subsidiary and brand Invitel. The Company also offers Internet and data services to business customers in Romania through Euroweb Romania, another subsidiary. HTCC was originally established as a holding company to acquire concessions from the government of the Republic of Hungary to own and operate local fixed line telecommunications networks in the country. It offers fixed line telecommunications services to residential and business customers in its 14 historical concession areas, with a backbone network that comprises approximately 8,500 route km in Hungary and 6,000 route km outside Hungary. HTCC also uses its network capacity to transport voice, data and Internet traffic on a wholesale basis for other telecommunications service providers and Internet service providers. The Company has four core markets: mass market voice, mass market Internet, business and wholesale.
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