|By Business Wire||
|July 30, 2014 04:47 AM EDT||
Magyar Telecom B.V. (“Matel B.V.”) announced today that on July 30, 2014 (at 14:00 UK time, 15:00 CET, 9:00 AM ET), Matel B.V. will host a conference call to discuss financial results for the quarter ended June 30, 2014.
The results for the quarter ended June 30, 2014 reflect the consolidated financial results of Matel B.V. and its subsidiaries (collectively, the “Company”) in accordance with International Financial Reporting Standards, as adopted by the E.U. (“IFRS”).
The reporting currency is euro (“EUR”), however the functional currency of operations is the Hungarian forint (“HUF”), being the currency of the primary economic environment in which the Company operates.
RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 2014
When comparing the financial results for the six months ended June 30, 2014 to the financial results for the six months ended June 30, 2013, the reported results in euro have been affected by the difference between the average HUF/EUR exchange rates. The Hungarian forint depreciated against the euro by 4% with an average HUF/EUR exchange rate of 306.94 during the six months ended June 30, 2014 compared to the average HUF/EUR exchange rate of 296.09 during the six months ended June 30, 2013.
The Company’s revenue was EUR 75.0 million for the six months ended June 30, 2014 which represents a 6% decrease compared to the six months ended June 30, 2013. Segment gross margin decreased by 6% from EUR 63.1 million for the six months ended June 30, 2013 to EUR 59.1 million for the six months ended June 30, 2014. General operating expense decreased by 9% from EUR 44.6 million for the six months ended June 30, 2013 to EUR 40.6 million for the six months ended June 30, 2014, mainly as a result of general cost control of operating expenses and EUR 2.3 million of expense which was related to the Restructuring. Income / (loss) from operations changed to a loss of EUR 3.4 million for the six months ended June 30, 2014 from a loss of EUR 6.1 million for the six months ended June 30, 2013. Net result for the six months ended June 30, 2014 was a loss of EUR 12.3 million compared to a loss of EUR 24.7 million for the six months ended June 30, 2013.
Residential Voice – Residential Voice segment gross margin was EUR 12.2 million for the six months ended June 30, 2014, representing a decrease of 16% compared to the six months ended June 30, 2013. The decrease was mainly due to lower acquisition ARPU of new customers.
Residential Internet & TV – Residential Internet & TV segment gross margin was EUR 11.6 million for the six months ended June 30, 2014 compared to EUR 11.7 million for the six months ended June 30, 2013 representing a decrease of 1%. In functional currency terms, the gross margin of this segment has increased by 3%, mainly due to the increase in customer base, which was partially offset by a decrease in Residential Internet gross margin due to lower ADSL ARPU.
Cable – Cable segment gross margin was EUR 6.6 million for the six months ended June 30, 2014, representing an increase of 6% compared to the six months ended June 30, 2013, mainly due to the increase in the number of customers.
Corporate – Corporate segment gross margin was EUR 21.1 million for the six months ended June 30, 2014, representing a decrease of 3% compared to the six months ended June 30, 2013. This decrease was mainly due to the decrease in Corporate voice and data revenue as a result of a decrease in traffic and price erosion on contract renewals, partially offset by the increase in revenue of Corporate Hosting & IT Services.
Wholesale – Wholesale segment gross margin was EUR 7.6 million for the six months ended June 30, 2014, representing a decrease of 15% compared to the six months ended June 30, 2013, which is primarily attributable to the decrease of revenue of the sub 2M lines and decreasing data revenues.
Segment gross margin is a non-IFRS financial measure, which is used by management to evaluate the performance of the business segments. The following table represents the reconciliation of segment gross margin to income / (loss) from operations as per the Interim Consolidated Statement of Profit and Loss and Other Comprehensive Income in the interim consolidated financial statements of the Company:
|Six months ended June 30,|
|(euro in millions)||2014||2013|
|Residential Internet & TV||11.6||11.7|
|Segment gross margin||59.1||63.1|
|Network operating expenses||(8.6||)||(9.5||)|
|Direct personnel expenses||(3.8||)||(5.3||)|
|Selling, general and administrative expenses||(28.2||)||(29.8||)|
|Depreciation and amortization||(21.6||)||(23.7||)|
|Cost of restructuring||(0.3||)||(0.9||)|
|Income (loss) from operations||(3.4||)||(6.1||)|
Net cash provided by operations, which includes interest paid but excludes capital expenditure and debt repayments, was EUR 14.1 million for the six months ended June 30, 2014.
Commenting on the results, David McGowan, Chief Executive Officer of Invitel, the Company’s operating subsidiary, noted: “We're pleased that our bundling strategy in both our residential and corporate businesses, combined with continued cost discipline, has delivered results during Q2 which are ahead of plan and which demonstrate increased stability across the company.”
On July 30, 2014 (at 14:00 UK time, 15:00 CET, 9:00 AM ET), Matel B.V. will host a conference call to discuss financial results for the quarter ended June 30, 2014.
You can participate in the conference call by dialing 0800-756-3429 (UK toll free), +1-201-689-8049 (International) or +1-877-407-9210 (U.S. toll free) and referencing “Matel B.V.”
A webcast of the call and the presentation materials will be available on Invitel’s website at http://invitel.hu/english under “Investor Relations.” The webcast will be available for replay until October 30, 2014. In addition, a replay of the call will be available until August 13, 2014 at 11:59 PM ET. To access the replay of the call, please dial +1-877-660-6853 (U.S. toll free) or internationally dial +1-201-612-7415 and enter the conference ID (13585739).
MATEL HOLDINGS LIMITED
Matel Holdings Limited is the holder of the 49% equity stake of Matel B.V. and has its shares stapled to the Senior Secured PIK Toggle Notes due 2018 issued by Matel B.V. on December 12, 2013. The audited standalone financial statements of Matel Holdings Limited for the year ended December 31, 2013 is available on Invitel’s website at http://invitel.hu/english under “Investor Relations.”
ABOUT MAGYAR TELECOM B.V.
Magyar Telecom B.V., through its subsidiary Invitel, is one of the leading service providers in the Hungarian telecommunications market, offering a broad portfolio of services for residential and business customers. Residential products include a variety of multimedia and entertainment services such as interactive, digital and High Definition television, fast internet offerings and telephony services. Business solutions include the most up-to-date ICT and cloud-based IT solutions, in addition to voice and data services, all using Invitel's nationwide fiber-optic backbone network. Invitel is headquartered in Budaörs, with customer touch points throughout Hungary.
|Magyar Telecom B.V.|
(in millions of euro)
|Statement of Operations|
|Six months ended||Six months ended|
|June 30,||June 30,|
|Residential Internet & TV||15.5||15.9|
|Segment Cost of Sales||15.9||16.3|
|Income (Loss) from Operations||(3.4||)||(6.1||)|
|Foreign Exchange Gains (Losses), net||(0.5||)||(0.2||)|
|Income (Loss) for the Period||(12.3||)||(24.7||)|
|Magyar Telecom B.V.|
(in millions of euro)
|June 30,||December 31,|
|Property, Plant and Equipment, net||196.2||215.3|
|Total Current Liabilities||37.9||44.1|
|Long Term Debt||153.1||151.6|
|Total Shareholders’ Equity||61.9||83.7|
|Total Liabilities and Shareholders’ Equity||263.0||290.5|
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Feb. 19, 2017 04:15 PM EST Reads: 1,899
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Feb. 19, 2017 03:45 PM EST Reads: 1,238
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...
Feb. 19, 2017 02:45 PM EST Reads: 860
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, will discuss how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees will learn how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He will also look at what good leadership must entail in order to accomplish this, and how IT managers ca...
Feb. 19, 2017 02:30 PM EST Reads: 1,024
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, will discuss how to use Kubernetes to setup a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace....
Feb. 19, 2017 02:30 PM EST Reads: 2,058
The financial services market is one of the most data-driven industries in the world, yet it’s bogged down by legacy CPU technologies that simply can’t keep up with the task of querying and visualizing billions of records. In his session at 20th Cloud Expo, Jared Parker, Director of Financial Services at Kinetica, will discuss how the advent of advanced in-database analytics on the GPU makes it possible to run sophisticated data science workloads on the same database that is housing the rich inf...
Feb. 19, 2017 02:15 PM EST Reads: 883
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Feb. 19, 2017 02:00 PM EST Reads: 869
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Feb. 19, 2017 01:45 PM EST Reads: 4,774
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
Feb. 19, 2017 01:15 PM EST Reads: 679
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Feb. 19, 2017 12:45 PM EST Reads: 975
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
Feb. 19, 2017 12:00 PM EST Reads: 595
Column Technologies exhibited at SYS-CON's @DevOpsSummit at Cloud Expo, which took place at the Javits Center in New York City, NY, in June 2016. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principals and help our customers meet today’s DevOps and Dig...
Feb. 19, 2017 12:00 PM EST Reads: 710
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Feb. 19, 2017 11:45 AM EST Reads: 949
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 19, 2017 11:30 AM EST Reads: 751
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
Feb. 19, 2017 11:30 AM EST Reads: 843