MTS posts strong 2011 results

13 Mar 2012

Russian giant Mobile TeleSystems (MTS) has posted revenues of USD12.3 billion for the year ending December 2011, up more than 9% year-on-year. The growth was thanks to increased sales from its operating subsidiaries in Russia (up 9%) and Ukraine (up 7%) comfortably offsetting small revenue declines in Uzbekistan and Armenia. EBITDA for the year was up 5.6% to USD5.1 billion following the implementation of efficiency measures throughout the group and better integration of recently acquired fixed line providers in Moscow and the Russian regions. Net income came in at USD1.4 billion, up 4.6% year-on-year. At 31 December 2011 MTS claimed 103.6 million consolidated mobile subscribers and more than two million consolidated broadband subscribers.

Russia, Mobile TeleSystems (MTS)