MTS Q1 revenues climb 5.5%

19 May 2021

Russia’s Mobile TeleSystems (MTS) announced its Q1 2021 results, highlighting ‘solid top-line performance across all key segments’. Consolidated group revenue increased 5.5% year-on-year to RUB123.9 billion (USD1.68 billion) in January-March, primarily driven by sales of handsets and accessories, core telecom services, and financial services, with additional positive contributions from Digital & Cloud Solutions and Media verticals. Group adjusted operating income before depreciation and amortisation (OIBDA) accelerated in the quarter to 6.7% growth y-o-y, reaching RUB55.4 billion.

CEO Vyacheslav Nikolaev commented: ‘Operationally, we continue to move at pace on our Customer Lifetime Value 2.0 strategy, expanding our product portfolio and driving penetration of bundled offerings throughout our subscriber base. Looking ahead, we see promising trends in 2021 – including rapid uptake in digital services as well as the easing of pandemic-related roaming headwinds – and we reaffirm our full-year guidance of more than 4% growth in both revenue and OIBDA as well as RUB100 billion-RUB110 billion in Cash CAPEX.’ MTS noted it continued to see robust dynamics in promising new areas beyond connectivity including Fintech and OTT video streaming (where users nearly tripled versus the year-ago-quarter [+189%] to reach 2.9 million).

Russia, Mobile TeleSystems (MTS)