Rostelecom IFRS net income rises 46% to 5.6 bln rbl in Jan–Mar
MOSCOW, May 15 (PRIME) -- The net income of Russian state-controlled telecom operator Rostelecom increased 46% on the year to 5.631 billion rubles in January–March, as calculated under International Financial Reporting Standards (IFRS), the company said on Wednesday in a statement.
Revenue rose 3% to 78.667 billion rubles.
Operating income before depreciation and amortization (OIBDA) increased 12% to 26.381 billion rubles. The OIBDA margin added 2.6 percentage points to 33.5%.
Operating income increased 16% to 9.709 billion rubles. Capital expenditure (CAPEX) soared 48% to 22.343 billion rubles.
The net debt widened 9% to 208.369 billion rubles.
President Mikhail Oseyevsky said, “The strong first quarter of 2019 came in line with our expectations, resulting in growth across key financial indicators…We remain committed to the digital transformation of our business with digital and content services forming the basis of our strategy.”
Senior Vice President and Chief Financial Officer Sergei Anokhin said, “Rostelecom’s results for the first quarter of 2019 reflect our confident outlook for the future development of the digital segment.”
“In addition to expanding our digital segment, we are introducing measures aimed at improving internal efficiency. We expect our performance to continue to improve across all key financial indicators. Therefore, we reiterate our guidance for the full year of 2019 and we anticipate an increase in revenue and OIBDA of no less than 2.5%, based on CAPEX of 65–70 billion rubles, including the regulatory CAPEX amounting to 7 billion rubles, excluding the implementation of government programs.”
(65.3001 rubles – U.S. $1)