Rostelecom IFRS net profit rises 11% to 35 bln rbl in 2022

MOSCOW, Nov 21 (PRIME) -- The net profit of Russian state-controlled telecom operator Rostelecom increased 11% to 35 billion rubles in 2022, as calculated under International Financial Reporting Standards (IFRS), the company said on Tuesday in a statement.

Revenue rose 8% to 627 billion rubles.

Operating income before depreciation and amortization (OIBDA) grew 15% to 251 billion rubles. Free cash flow advanced 39% to 45.2 billion rubles. Capital expenditures fell 21% to 116.9 billion rubles.

President Mikhail Oseyevsky said the company’s mobile business became one of the drivers of the rise of its financials. The subscriber base rose to 48.1 million in 2022 from 47.5 million a year earlier.

“The management’s main goal for the nearest future is adaptation to the changing market conditions, including a choice of the key investment projects and search for new sources of business,” the company’s boss said.

Rostelecom did not disclose quarterly reports during 2022.

(88.4954 rubles – U.S. $1)

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