Rostelecom Q4 20 - Modest current DPS mutes FCF growth potential
-Strong revenue thanks to the one-off, net loss on financial charges-FY 20 DPS guidance of RUB 5 (DY 4.7%) looks somewhat disappointing
-FY 21e guidance implies free cash flow and DPS growth potential, which may convert in a stronger share price performance in case Rostelecom moves on track to meet the guidance
Rostelecom PJSC provides communication services (including local, intra-zone, long-distance domestic and international fixed-line telephone services, mobile services), data transmission, Internet, Pay TV, VPN and data centers services, rent of communication channels and radio communication services in the territory of Russian Federation. Co. operates the main intercity network and the international telecommunications gateways of the Russian Federation, carrying voice and data traffic that originates in its own network and other national and international operators' networks to other national and international operators for termination.
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