Rostelecom’s 4Q20 revenue jumps 23% y-o-y

9 Mar 2021

Russia’s Rostelecom reported that its fourth-quarter 2020 revenues grew by 23% to RUB163.0 billion (USD2.2 billion) compared to Q4 2019, underpinned by mobile services revenue (including Tele2 Russia) climbing 15% year-on-year and ‘digital services revenue’ jumping 53% y-o-y. Operating income before depreciation and amortisation (OIBDA) rose 10% to RUB44.5 billion in October-December 2020 (giving a quarterly OIBDA margin of 27.3% compared to 30.6% in 4Q19). Net loss for the fourth quarter reached RUB2.1 billion compared to RUB800 million losses in the same period a year earlier, but in full-year 2020 Rostelecom posted a net profit of RUB25.3 billion, up 16% from RUB21.9 billion in FY19. Three-month CAPEX excluding state programmes decreased by 16% y-o-y to RUB36.2 billion, while FY20 CAPEX increased 1% to RUB107.1 billion.

The fixed and mobile operator stated alongside its results announcement: ‘In April 2021 we plan to announce our renewed strategy outlining high-level strategic focus on digital business that will better position our company for changing markets and align with customer needs.’

Russia, Rostelecom