MTS announces Q1 results

9 Jun 2010

Russian telecoms group MTS has announced revenues for the three months ended 31 March 2010 of USD 2.614 billion, up by 23.2% year-on-year helped by positive currency effects. Mobile revenues rose 17.9% to USD2.07 billion, and fixed line revenues were up 22.1% to USD408 million. MTS attributed the growth to increasing usage, greater adoption of data products, higher handset sales, subscriber additions and its move into the fixed market with the acquisition of Comstar UTS. OIBDA of USD1.154 billion was up 20.4%, while the OIBDA margin fell one percentage point to 44.1%. The company reported net profit of USD381.3 million, versus a loss of USD53.5 million in the year-earlier period, helped by refinancing of much of its borrowing.

Russia, Mobile TeleSystems (MTS)