MTS Announces Q2 2020 Results

August 19, 2020

 

Q2 2020

in RUB bn unless indicated otherwise

*All profit & loss figures for 2019 have been restated to reflect the deconsolidation of MTS's former Ukraine operations

Alexey Kornya, President & CEO, commented on the results:

"As the world navigates 2020, two things have become crystal clear: connectivity has never been so essential, and digital transformation is accelerating like never before. These trends only further reaffirm MTS's long-term strategy to maintain a leading network while moving forward to capture new opportunities in segments beyond connectivity.

Despite facing some challenges as a result of the COVID-19 pandemic, I am happy to report that MTS delivered positive top-line growth in Q2 2020. Group revenue increased 1.3% to reach 117.7 billion rubles, with major positive contributions from MTS Bank as well as core connectivity. In addition, we saw Group adj. OIBDA notch upward 0.6% to 51.6 billion rubles, with negative COVID-19 impacts in roaming and banking more than offset by positive contributions from core services, OPEX savings in retail, and other factors.

While some uncertainty and headwinds remain - in particular lower levels of international roaming as we enter peak summer travel season - we now have some additional clarity as we head further into the second half of the year. Given our proven record of core resilience, continued operational agility, and sustained demand for connectivity services, we are reaffirming our earlier full-year 2020 guidance of flat to 3% growth in revenue, -2% to flat in Adjusted OIBDA, and cash CAPEX of around RUB 90 bn."

More information at:

 

Adjusted OIBDA doesn't include a loss from impairment of non-current assets of RUB 0.9 bn for Q2 2020

Excluding costs of RUB 0.02 bn related to the purchase of 4G licenses in Armenia in H1 2019

Excluding lease obligations

Including the effects of IFRS 15 and 16