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MarketScreener Homepage  >  Equities  >  BUDAPEST STOCK EXCHANGE  >  Magyar Telekom Tavkozlesi Nyrt    MTELEKOM   HU0000073507

MAGYAR TELEKOM TAVKOZLESI NYRT

(MTELEKOM)
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Magyar Telekom Tavkozlesi : has reached an agreement with the interest representative organizations

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12/06/2019 | 06:55am EST

Magyar Telekom has agreed on an average salary increase of 5% and the layoff of maximum 450 persons with the interest representation organizations operating at the company.

According to the agreement, as of April 1, 2020, Magyar Telekom's non-executive employees will receive an average 5% salary development. In addition, as of January 1, 2020, the benefits provided within the cafeteria system will be standardized at the highest value currently granted, regardless of the job category.

Magyar Telekom also intends to maintain its market leading position in the intensifying competition and will continue to invest significant resources in achieving its network development objectives. The reorganization will continue in 2020 to have a more efficient and streamlined organization that responds faster to customer needs and market changes. To this end, the company has agreed with the interest representative organisations to reduce the number of employees with a maximum of 450 persons.

The majority of the involved employees are expected to leave the company during the first quarter of 2020. It is also possible that employees voluntarily inform their managers on their intention to leave. Magyar Telekom supports the re-employment of exiting employees through active job search, job market training and personal counseling within the framework of the well-functioning Opportunity Program.

(C) 2019 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE TELEKOM AG 0.59% 14.748 Delayed Quote.0.67%
MAGYAR TELEKOM TAVKOZLESI NYRT 0.00%End-of-day quote.0.00%
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Financials (HUF)
Sales 2019 658 B
EBIT 2019 86 377 M
Net income 2019 39 266 M
Debt 2019 336 B
Yield 2019 5,77%
P/E ratio 2019 12,4x
P/E ratio 2020 12,0x
EV / Sales2019 1,23x
EV / Sales2020 1,21x
Capitalization 472 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 501,40  HUF
Last Close Price 456,50  HUF
Spread / Highest target 26,0%
Spread / Average Target 9,84%
Spread / Lowest Target -17,4%
EPS Revisions
Managers
NameTitle
Tibor Rékasi Chief Executive Officer & Director
Gyula László Pap Chairman-Supervisory Board
Robert Patrick Hauber Chairman
János Szabó Chief Financial Officer
Lubor Zatko Chief Technology & IT Officer
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