Rostelecom’s IFRS net income falls 29% to 8.4 bln rbl in Jul–Sep

MOSCOW, Nov 9 (PRIME) -- The net income of Russian telecom and digital company Rostelecom decreased by 29% on the year to 8.398 billion rubles in July–September, as calculated under International Financial Reporting Standards (IFRS), the company said on Tuesday in a statement.

Revenue rose by 5% to 141.213 billion rubles.

Operating income before depreciation and amortization (OIBDA) grew by 9% to 58.323 billion rubles, and the OIBDA margin put on 1.5 percentage points to 41.3%.

Capital expenditure, excluding state programs, went up 1% to 24.638 billion rubles.

The net debt, including lease liabilities, widened 0.2% to 502.487 billion rubles.

“The company continued to demonstrate stable business growth and a high level of cost control during the third quarter, which ensured that we remain within our budget for 2021. The successful fulfilment of our plans during the nine months of 2021, and the moderate macroeconomic risk outlook enables us to look more optimistically at our anticipated results for the whole full year,” Senior Vice-President and Chief Financial Officer Sergei Anokhin said.

“As a result of this, we are improving our previously published forecast for OIBDA growth in 2021 to 10–12% on the year. In terms of revenue, the company continues to plan for growth of at least 5% and we expect CAPEX in the range of 110–115 billion rubles, excluding the implementation of state programs.”

(71.3975 rubles – U.S. $1)

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