MegaFon IFRS net profit falls 63.8% to 2 bln rbl in Jan–Mar

MOSCOW, May 30 (PRIME) -- The net profit including the impact of IFRS 16 decreased 63.8% on the year to 2.187 billion rubles and the organic net profit fell 49.7% to 3.036 billion rubles, as calculated under International Financial Reporting Standards (IFRS), the company said Thursday in a statement.

Revenue rose 4.8% to 80.128 billion rubles.

Including the positive impact of IFRS 16, operating income before depreciation and amortization (OIBDA) increased 15.2% to 35.226 billion rubles and organic OIBDA was at 30.189 billion rubles. The OIBDA margin was 44% and the organic OIBDA margin was 37.7% against 40% in January–March 2018.

Capital expenditures decreased 6.2% to 7.963 billion rubles.

Free cash flow to shareholders increased by 12.218 billion rubles on the year to 12.065 billion rubles.

The net debt was at 363.294 billion rubles as of the end of March.

The number of mobile subscribers grew 0.9% on the year to 76.9 million as of the end of March.

“Our financial results in January–March continued the positive growth trends from previous quarters and confirmed that our digital leadership strategy adopted in 2017 was the right choice,” CEO Gevork Vermishyan said.

(64.9084 rubles – U.S. $1)

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