MTS Q2 revenues up 5% to RUB97.5bn; Bitel settlement boosts bottom line

21 Aug 2013

Moscow-based telecoms giant Mobile TeleSystems (MTS) has reported revenues of RUB97.45 billion (USD2.95 billion) for the three months ended 30 June 2013, a rise of 5.0% year-on-year. Adjusted OIBDA for Q2 increased 9.8% y-o-y to RUB44.38 billion, while the company reported a consolidated net income of RUB29.05 billion for the three months under review, compared to a net loss of RUB23.14 billion in the year-ago period. MTS credits the improvement to the positive gain realised through its settlement with Altimo, Nomihold Securities and other associated parties over the ownership of now-defunct Kyrgyz mobile operator Bitel; MTS received a total payment of USD150 million as part of the June legal agreement. The group’s domestic unit contributed the lion’s share of 2Q12 sales, reporting revenues of RUB86.46 billion for April-June 2013, an increase of 4.4% y-o-y.

Russia, Mobile TeleSystems (MTS)