Sistema 4Q 19 - Good 4Q 19 results and confident outlook
Sistema reported 4Q and FY 19 results slightly ahead of market expectations, mainly thanks to the strong dynamics at RTI driven by long-term contracts, coupled with relatively resilient dynamics in soft commodity assets despite the weak pricing environment. Net debt at the Corporate Centre level continued its steady decline, decreasing by RUB 15 bn vs. 3Q 19, mainly thanks to the Detsky Mir SPO.Sistema is a telecommunications and technology investment group based in Russia. Co. invests in, and manages a range of companies which operate in the telecommunications, oil and energy, high technology, banking and other sectors. The main focus of Co.'s activities is service-based industries. Co.'s operations are organized along four segments: Telecommunications, Technology and Industry, Consumer Assets and Oil and Energy. Through its subsidiaries, Co.'s activities include: wireless telecommunications services , IT and systems integration, cable TV, manufacturing of radiotechnical equipment, oil, gas and energy production, banking activities, trading and investing and financing activities.
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