MTS’ 3Q20 revenue improves 4.9% year-on-year

18 Nov 2020

Russia’s Mobile TeleSystems (MTS) reported that its Q3 2020 consolidated revenue reached RUB129.0 billion (USD1.7 billion), up 4.9% year-on-year, of which Russian operations accounted for RUB127.4 billion (up 4.4%). Quarterly adjusted operating income before depreciation and amortisation (OIBDA) climbed 3.3% y-o-y to RUB58.5 billion – including Russia OIBDA of RUB57.2 billion, up 3.3% – while consolidated operating profit (EBIT) rose 1.8% to RUB33.2 billion. Net profit attributable to shareholders stood at RUB18.8 billion in July-September 2020, up 2.3% on the year-ago figure. Total mobile connections (Russia, Armenia and Belarus) were reported as 86.0 million at end-September 2020, up 1.3% from the previous quarter, although down 0.8% year-on-year.

MTS said that top-line performance was driven by both core telecom services as well as new segments including ‘Fintech, Media, and B2B Digital & Cloud services’ which contributed more than half of its y-o-y revenue growth. Total turnover and OIBDA were constrained by sharply lower international roaming during peak summer travel season amid the COVID19 pandemic. MTS also announced the sale of its 100% stake in NVision Group (Moscow) to its parent Sistema this month, for around RUB401 million. MTS agreed to sell NVision’s systems integration assets, excluding those utilised in the development of MTS’ product portfolio, while MTS will also retain the FORIS BSS/OSS billing system that had earlier been part of NVision.

Russia, Mobile TeleSystems (MTS), NVision (Russia)