MAGYAR TELEKOM TÁVKÖZLÉSI NYILVÁNOSAN MÜKÖDÖ RÉSZVÉNYTÁRSASÁG

Financials Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság

Equities

MTELEKOM

HU0000073507

Integrated Telecommunications Services

End-of-day quote Budapest Stock Exchange Other stock markets 06:00:00 2023-12-06 pm EST			5-day change	1st Jan Change
640 ^HUF	-0.47%		+5.96%	+88.79%

Nov. 09	Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	CI
Aug. 09	Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	CI

Valuation

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	456 771	461 122	392 884	420 043	326 363	592 271	-	-
Enterprise Value (EV) ¹	729 576	810 479	810 317	892 929	803 281	1 074 217	1 054 870	1 020 147
P/E ratio	10,6x	11,2x	9,21x	7,03x	5,25x	8,54x	6,26x	4,79x
Yield	5,68%	4,48%	5,26%	3,65%	-	8,00%	8,68%	11,9%
Capitalization / Revenue	0,70x	0,69x	0,58x	0,60x	0,44x	0,71x	0,67x	0,64x
EV / Revenue	1,11x	1,22x	1,20x	1,28x	1,08x	1,29x	1,19x	1,11x
EV / EBITDA	3,78x	3,67x	3,59x	3,71x	3,24x	3,86x	3,41x	2,95x
EV / FCF	14,1x	16,3x	-16,7x	10,6x	10,8x	15,8x	12,8x	8,91x
FCF Yield	7,07%	6,15%	-6,00%	9,39%	9,28%	6,32%	7,82%	11,2%
Price to Book	0,79x	0,77x	0,65x	0,63x	0,47x	0,86x	0,80x	0,74x
Nbr of stocks (in thousands)	1 038 117	1 033 906	1 033 906	1 020 760	962 723	929 781	-	-
Reference price ²	440	446	380	412	339	637	637	637
Announcement Date	2/20/19	2/18/20	2/25/21	2/24/22	2/23/23	-	-	-

¹HUF in Million²HUF

Estimates

Income Statement Evolution (Annual data)

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	655 104	666 653	673 048	700 120	746 669	831 738	887 896	919 641
EBITDA ¹	192 778	220 562	225 882	240 771	247 946	278 299	309 180	346 173
EBIT ¹	76 978	83 180	84 824	92 809	109 178	137 669	164 442	196 970
Operating Margin	11,8%	12,5%	12,6%	13,3%	14,6%	16,6%	18,5%	21,4%
Earnings before Tax (EBT) ¹	59 782	59 145	60 912	79 113	84 395	95 357	127 498	165 373
Net income ¹	43 318	41 157	42 364	58 997	62 954	71 246	96 911	126 037
Net margin	6,61%	6,17%	6,29%	8,43%	8,43%	8,57%	10,9%	13,7%
EPS ²	41,6	39,8	41,3	58,6	64,5	74,6	102	133
Free Cash Flow ¹	51 563	49 848	-48 606	83 864	74 546	67 878	82 463	114 529
FCF margin	7,87%	7,48%	-7,22%	12,0%	9,98%	8,16%	9,29%	12,5%
FCF Conversion (EBITDA)	26,7%	22,6%	-	34,8%	30,1%	24,4%	26,7%	33,1%
FCF Conversion (Net income)	119%	121%	-	142%	118%	95,3%	85,1%	90,9%
Dividend per Share ²	25,0	20,0	20,0	15,0	-	51,0	55,3	76,1
Announcement Date	2/20/19	2/18/20	2/25/21	2/24/22	2/23/23	-	-	-

¹HUF in Million²HUF

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : December	2019 S1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3
Net sales ¹	319 703	166 100	178 088	193 592	175 864	184 234	190 915	199 203	195 870	208 090	216 225
EBITDA ¹	103 303	59 306	66 373	64 931	62 146	57 905	65 196	62 699	58 029	75 921	80 452
EBIT ¹	37 360	22 634	29 482	25 666	26 777	22 686	31 306	28 409	24 447	41 025	45 714
Operating Margin	11,7%	13,6%	16,6%	13,3%	15,2%	12,3%	16,4%	14,3%	12,5%	19,7%	21,1%
Earnings before Tax (EBT) ¹	-	-	-	-	-	-	-	-	15 792	29 033	30 374
Net income ¹	16 490	13 504	19 325	18 718	18 453	10 570	17 062	16 869	10 519	22 258	22 947
Net margin	5,16%	8,13%	10,9%	9,67%	10,5%	5,74%	8,94%	8,47%	5,37%	10,7%	10,6%
EPS	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	8/8/19	8/10/21	11/10/21	2/24/22	5/12/22	8/10/22	11/9/22	2/23/23	5/10/23	8/9/23	11/9/23

¹HUF in Million

Estimates

Balance Sheet Analysis

Fiscal Period : December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	272 805	349 357	417 433	472 886	476 918	481 946	462 599	427 877
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1,42x	1,58x	1,85x	1,96x	1,92x	1,73x	1,50x	1,24x
Free Cash Flow ¹	51 563	49 848	-48 606	83 864	74 546	67 878	82 463	114 529
ROE (net income / shareholders' equity)	7,68%	6,99%	6,97%	9,28%	9,36%	9,77%	12,8%	15,2%
Shareholders' equity ¹	563 846	588 739	607 836	635 812	672 317	729 483	760 089	831 930
ROA (Net income/ Total Assets)	3,82%	3,45%	3,29%	4,29%	4,41%	5,30%	7,20%	9,00%
Assets ¹	1 132 823	1 192 438	1 289 380	1 375 221	1 428 545	1 344 268	1 345 991	1 400 416
Book Value Per Share ²	557	577	581	655	719	738	796	864
Cash Flow per Share	153	157	181	193	203	-	-	-
Capex ¹	107 535	112 520	234 561	110 906	121 217	133 326	146 227	152 330
Capex / Sales	16,4%	16,9%	34,9%	15,8%	16,2%	16,0%	16,5%	16,6%
Announcement Date	2/20/19	2/18/20	2/25/21	2/24/22	2/23/23	-	-	-

¹HUF in Million²HUF

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Magyar Telekom Távközlési Nyilvánosan Müködö Részvénytársaság

Trading Rating :

Investor Rating :

ESG Refinitiv :

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

637HUF

Average target price

722.83HUF

Spread / Average Target

+13.47%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Integrated Telecommunications Services

	1st Jan change	Capi.
MAGYAR TELEKOM TÁVKÖZLÉSI NYILVÁNOSAN MÜKÖDÖ RÉSZVÉNYTÁRSASÁG	+88.79%	1 672 M $
CHINA MOBILE LIMITED	+20.48%	175 B $
VERIZON COMMUNICATIONS	-2.92%	161 B $
DEUTSCHE TELEKOM AG	+21.34%	121 B $
NIPPON TELEGRAPH AND TELEPHONE CORPORATION	+13.30%	99 561 M $
CHINA TELECOM CORPORATION LIMITED	+17.59%	62 330 M $
AMÉRICA MÓVIL, S.A.B. DE C.V.	-10.12%	57 325 M $
CHARTER COMMUNICATIONS, INC.	+8.39%	54 368 M $
SAUDI TELECOM COMPANY	+4.23%	50 700 M $
EMIRATES TELECOMMUNICATIONS GROUP COMPANY	-18.20%	44 285 M $

Other Integrated Telecommunications Services