MegaFon says IFRS net profit jumps 640% to 32.5 bln rbl in Q4

MOSCOW, Mar 24 (PRIME) -- The net profit of Russian mobile operator MegaFon skyrocketed by 639.6% on the year to 32.5 billion rubles in October–December 2021, as calculated under International Financial Reporting Standards (IFRS), the company said on Thursday in a statement.

Revenue rose by 10.9% to 97.1 billion rubles. Revenue from sales of equipment and accessories increased by 40.1% to 13.1 billion rubles.

Operating income before depreciation and amortization (OIBDA) shrank by 4.5% to 34.6 billion rubles, and the OIBDA margin decreased by 5.8 percentage points to 35.7%.

“The main factors that impacted the margin are an increase in sales of equipment and accessories, traditionally a less marginal indicator, and a rise in expenses on the staff, rent, and utility bills following the recovery of work of stores and a return of employees to the offices,” MegaFon said.

The net debt narrowed by 41.6 billion rubles in October–December 2021 to 244.6 billion rubles.

The nationwide subscriber base rose by 5.7% to 74.4 million.

In 2021, the net profit leaped by 148.9% to 66.3 billion rubles. Revenue rose by 6.6% to 354.2 billion rubles, and revenue from sales of equipment and accessories spiked by 29.7% to 37.8 billion rubles. OIBDA remained flat at 147.7 billion rubles with the OIBDA margin at 41.7%.

(103.1618 rubles – U.S. $1)

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