MegaFon books 11.5% increase in 2Q net income; revenues up 5.1%

17 Aug 2018

Pan-Russian operator MegaFon has announced its financial and operating results for Q2 2018, posting a 5.1% year-on-year rise in revenues to RUB81.95 billion (USD1.08 billion) in the three-month period under review, again helped by mobile data turnover which grew 12.7% y-o-y to RUB24.68 billion – and accounting for around 36% of wireless service revenue (RUB68.32 billion). OIBDA, meanwhile, increased by 5.4% y-o-y to RUB32.26 billion in April-June 2018; OIBDA margin was broadly unchanged at 39.4% versus 39.3% in 2Q17. Net profit stood at RUB6.15 billion, up 11.5% when compared to RUB5.52 billion in the year-ago quarter, and CAPEX increased by 23.5% y-o-y to RUB16.23 billion. The group’s total number of mobile connections increased by 6.1% y-o-y to 77.5 million at 30 June 2018. Net debt stood at RUB214.74 billion at the same date.

Commenting on the results, group CEO Sergey Soldatenkov said: ‘I am pleased to announce that we have had a good quarter and our key financial indicators demonstrated positive trends in Q2 2018 and were in line with our guidance … All of this growth was achieved largely through the positive market response to our product development initiatives and continued development of our tariff offers such as strategy.’

Russia, MegaFon