MTS’ IFRS revenue rises 1.3% to 117.7 bln rbl in Apr–Jun

MOSCOW, Aug 19 (PRIME) -- Revenue of major Russian mobile operator MTS rose 1.3% on the year to 117.7 billion rubles in April–June, as calculated under International Financial Reporting Standards (IFRS), the company said on Wednesday in a statement.

Adjusted operating income before depreciation and amortization (OIBDA) grew 0.6% to 51.6 billion rubles.

Operating profit decreased 4.2% to 26 billion rubles. Cash capital expenditures shrank 9.1% to 20.6 billion rubles.

The net debt narrowed 8.9% to 282.5 billion rubles.

“As the world navigates 2020, two things have become crystal clear: connectivity has never been so essential, and digital transformation is accelerating like never before. These trends only further reaffirm MTS’s long-term strategy to maintain a leading network while moving forward to capture new opportunities in segments beyond connectivity,” CEO Alexei Kornya said.

He also said, “While some uncertainty and headwinds remain – in particular lower levels of international roaming as we enter peak summer travel season – we now have some additional clarity as we head further into the second half of the year. Given our proven record of core resilience, continued operational agility, and sustained demand for connectivity services, we are reaffirming our earlier full-year 2020 guidance of flat to 3% growth in revenue, -2% to flat in adjusted OIBDA, and cash capital expenditures of around 90 billion ruble.”

MTS’ total number of mobile subscribers decreased 1.1% on the year to 84.9 million.

(73.4321 rubles – U.S. $1)

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