ER-Telecom’s IFRS net profit rockets 70% to 2.1 bln rbl in 2018

MOSCOW, Mar 25 (PRIME) -- The net profit of ER-Telecom Holding, one of Russia’s biggest Internet and pay TV providers, jumped 70% in 2018 to 2.11 billion rubles, as calculated under International Financial Reporting Standards (IFRS), the company said on Monday in a statement.

Revenue increased 18% to 39.739 billion rubles thanks to an 8% organic growth and a 10% rise on mergers and acquisitions. Revenue in the household segment increased 16% to 26.326 billion rubles, and revenue in the corporate segment jumped 21% to 13.413 billion rubles.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 30% to 12.733 billion rubles. The EBITDA margin added 3 percentage points to 32%.

Capital expenditures grew 11% to 7.693 billion rubles. The net debt stood at 39.976 billion rubles as of December 31.

The number of active subscribers rose 10.4% to 7.002 million.

(63.7705 rubles – U.S. $1)

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