MTS IFRS revenue rises 7% to 114.3 bln rbl in Apr–Jun

MOSCOW, Aug 21 (PRIME) -- Revenue of major Russian mobile operator MTS increased 7% on the year to 114.3 billion rubles in April–June, as calculated under International Financial Reporting Standards (IFRS), the company said on Tuesday in a statement.

Operating income before depreciation and amortization (OIBDA) spiked 22.5% to 53.9 billion rubles. The profit attributable to owners decreased 3% to 14.3 billion rubles.

Capital expenditures rose 14.7% to 17.6 billion rubles. The net debt widened 10.9% to 194.5 billion rubles as of June 30.

The number of mobile subscribers lost 0.3% to 105.9 million.

“In the second quarter of 2018, MTS continued to demonstrate positive trends in each market with particularly strong growth in Russia in the mobile segment…We delivered ahead of our targets and maintained our position as the leading telecom company in Russia. The Russian competitive environment improved during the reporting period and we benefited from better pricing environment, growing data consumption and encouraging sales of goods,” President and CEO Alexei Kornya said.

“MTS is on track to further diversify its business and expand its digital product portfolio for retail and corporate customers…We maintain our commitment to providing attractive shareholder returns. In 2018, we intend to pay 26 rubles per share of dividend…While challenges lie ahead related to macro-economic factors, the competitive environment, regulatory changes and uncertainty over distribution, we are confident enough about our outlook for this year to increase our full-year guidance. Now, we forecast a 2–4% increase in revenue and about 2% increase in OIBDA, excluding the impact of new IFRS standards.”

(67.1807 rubles – U.S. $1)

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