MTS 2Q 20 - Strong results, FY 20e guidance confirmed
MTS reported strong 2Q 20 results, ahead of the consensus and strongly above our estimates on OIBDA and net profit, largely due to the effective cost control associated with the handset and software retail business. The FY 20e guidance was confirmed.Mobile Telesystems is a provider of mobile cellular communications services in the Russian Federation, Ukraine, Uzbekistan and Turkmenistan to consumers and corporate customers, employing technology based primarily on Global System for Mobile Communications (GSM). Co. had a mobile subscriber base of around 102.5 million (77.3 million in Russia, 20.4 million in Ukraine, 2.1 million in Turkmenistan, 1.6 million in Uzbekistan and 1.1 million in Armenia). In addition to standard voice services, Co. provides improved services, including voice mail, short message service, general packet radio service, and various SMS- and GPRS-based information and entertainment services.
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