MegaFon, Russia’s second largest cellular operator by subscribers, has reported consolidated revenues of RUB71.23 billion (USD2.26 billion) for the three months ended 30 September 2012, a 12.3% increase year-on-year. Operating income before depreciation and amortisation (OIBDA) grew 21.1% to RUB32.14 billion for the July-September period, and net income increased 19.6% to RUB14.93 billion. Capital expenditure for 3Q12 dropped 60.3% year-on-year from RUB15.73 billion to RUB6.25 billion. In operational terms, MegaFon’s consolidated subscriber base increased 1.7% y-o-y to 64.8 million, of which 62.8 million are based in Russia; MegaFon’s subsidiaries include Megafon-Tajikistan (formerly TT Mobile), Aquafon in the Republic of Abkhazia and Ostelecom in the Republic of South Ossetia.
Ivan Tavrin, CEO of MegaFon, commented: ‘We had excellent third quarter results and strong performance across all the areas of our business supported by solid sequential revenue growth, strong OIBDA gain with the highest margin in the last eight quarters, increased cash flow, and the highest ever quarterly net income in the history of the company. In particular, we have grown our mobile data revenues by more than 30% compared to the third quarter of 2011, in line with our strategy of capturing the opportunity in this expanding market’.