MegaFon’s IFRS revenue rises 14% to 89.7 bln rbl in Apr–Jun

MOSCOW, Aug 30 (PRIME) -- Revenue of Russian mobile operator MegaFon as a group increased 13.9% on the year to 89.689 billion rubles in April–June, as calculated under International Financial Reporting Standards (IFRS), the company said on Wednesday in a statement.

Operating income before depreciation and amortization (OIBDA) rose 15.8% to 34.236 billion rubles. The OIBDA margin added 0.7 percentage points on the year to 38.2%.

The adjusted net profit decreased 22.2% to 5.629 billion rubles.

Capital expenditures went up 6.8% to 13.772 billion rubles. Free cash flow to shareholders doubled to 9.935 billion rubles.

Net debt amounted to 217.392 billion rubles as of June 30.

The number of mobile subscribers added 1% on the year to 77.4 million as of June 30.

“We reiterate our service revenue growth in 2017 to be flat to low single digits and expect our OIBDA to be in the range of 112–118 billion rubles,” the company said.

“We project MegaFon’s capital expenditures for 2017 to be in the range of 55–60 billion rubles. This guidance represents standalone numbers for the telecom segment and does not include the financial results of Mail.Ru (now controlled by MegaFon). This guidance also does not take into account strategic advantages from the Mail.Ru transaction.”

(58.5320 rubles – U.S. $1)

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