Rostelecom boosts 1Q21 revenue by 9%

14 May 2021

Total revenue at Russian fixed and mobile group Rostelecom grew by 9% year-on-year to RUB131.958 billion (USD1.774 billion) in the first three months of 2021, with quarterly operating income before depreciation and amortisation (OIBDA) climbing 18% y-o-y to RUB55.437 billion, and Q1 net profit jumping 58% to RUB11.810 billion. CAPEX (excluding state-supported rollout programmes) increased by 24% y-o-y to RUB27.181 billion in January-March 2021. Rostelecom CFO Sergey Anokhin observed: ‘While our performance during the first quarter has exceeded our expectations, macroeconomic risk factors that could negatively impact our results remain and we prefer to be conservative when setting guidance for 2021. We therefore maintain our previously published forecast for 2021, where we expect to see a minimum 5% increase in consolidated revenues and OIBDA, with СAPEX of between RUB110 and RUB115 billion.’

Rostelecom’s fixed broadband access customers increased by 2% y-o-y to 13.5 million at 31 March 2021, while pay-TV subscribers grew 5.3% to 10.8 million, including IPTV subscriptions up 9% to 6.2 million. Local telephony accesses dropped 10% y-o-y to 13.7 million. Active mobile internet users (Tele2 and Rostelecom brands) were reported to increase by 19.9% in 1Q21 (slowed from a 36.1% rise in 1Q20) although actual mobile subscriber numbers were not given for the quarter.

Russia, Rostelecom, Tele2 Russia