4iG Nyrt.’s sales revenue increased by 73 percent to HUF 115.17 billion, and its EBITDA (earnings before interest, taxes and depreciation) increased by 131 percent to HUF 36.27 billion in the first quarter of this year in an annual comparison based on the company group’s IFRS report – 4iG Nyrt. announced to Computerword.

At the same time, its after-tax result showed a HUF 1.17 billion loss, mainly due to depreciation write-offs and other items that did not involve cash outflows related to acquisitions in the previous period.

The successful acquisition of Vodafone Hungary and the merger of the Albanian subsidiaries defined the company’s first quarter.

It was pointed out that 4iG Nyrt. underwent a significant transformation in the first quarter of 2023: with the successful acquisition of Vodafone Hungary, the group developed into a converged telecommunications provider in Hungary as well, and retained its market-leading position as an IT system integrator.

They added that the company had significantly diversified its customers, so that in the first quarter of 2023, the telecommunications business accounted for 87.4 percent of revenues.

The company group is the second in the Hungarian telecommunications market in the field of mobile voice and Internet services, while it has become the market leader in the field of fixed Internet services and television broadcasting.

They also mentioned that the merger of ALBtelecom and One Telecommunications on January 1, 2023 created ONE Albania, one of the most important telecommunications companies in the Western Balkans. The subsidiary of 4iG became the leading wired voice, Internet and television service provider in the Albanian telecommunications market, as well as the second largest mobile operator. As a result of the merger, the company has the largest landline network in the country, the fastest growing mobile subscriber base and a mobile infrastructure prepared for 5G. Thanks to the business move, the service provider’s efficiency and profitability also improved.

By exploiting the international and domestic synergies between the telecommunications and IT businesses, the company’s business and technological results can be further improved – they emphasized.

The shares of 4iG Nyrt. are traded in the premium category on the Budapest Stock Exchange (BÉT). The share closed on Wednesday with a 0.15 percent increase at HUF 675, its highest price in the past year was HUF 910 and the lowest was HUF 611.

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