UPDATE: RussiaТs Tele2 IFRS net loss narrows 65% to 5.5 bln rbl in 2017 - Telecommunications - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: RussiaТs Tele2 IFRS net loss narrows 65% to 5.5 bln rbl in 2017

(Adds details, comment in paragraphs 2Ц4)

MOSCOW, Mar 6 (PRIME) -- The net loss of Russian mobile operator T2 RTK Holding, working under the Tele2 brand, narrowed 64.6% on the year to 5.5 billion rubles in 2017, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Tuesday.

Revenue rose 16.2% on the year to 123 billion rubles in 2017 thanks to higher income from data transmission as the company launched 4G networks and an upturn in subscription to bundle tariff plans. Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 83.9% to 30.5 billion rubles.

The mobile operatorТs subscriber base rose 1.6 million people in 2017 to 40.6 million subscribers as of the end of 2017. Average revenue per user (ARPU) went up 10.9% to 252 rubles.

УFinancial and operating factors of the company show dynamic development of Tele2 in conditions of a stagnating market and confirm implementation of the goals that the shareholders had set. Tele2 will not race for growth of the subscriber base, but will focus on its structural improvement. By focusing on development of the major revenue diver Ц data transmission, we will secure and improve major indicators of profitability of our business,Ф the company said citing General Director Sergei Emdin

T2 RTK Holding refused to disclose IFRS results in 2016 not to provoke a negative backlash from other market players, but last week Emdin said that the company would resume disclosure of results starting from Tuesday although the report for 2017 would be incomplete.

(57.1000 rubles Ц U.S. $1)

End

06.03.2018 11:03
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 76.4742 +0.6981 20 dec
USD 67.1121 +0.3667 20 dec
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1096.60 -0.85 14:05 19 dec
micex 2339.03 -0.48 14:05 19 dec
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 151.81 -0.05 13:49 19 dec
lkoh 4875.50 -1.01 13:49 19 dec
rosn 408.50 -0.89 13:49 19 dec
sber 186.14 -0.25 13:49 19 dec
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 76.6100 - 13:49 19 dec
USDTD 67.2075 +0.2575 13:49 19 dec