ER-Telecom boosts H1 revenues by 14%

18 Aug 2021

Russian broadband network operator ER-Telecom reported that its consolidated group revenues increased by 14% year-on-year in the first six months of 2021, reaching RUB28.29 billion (USD385 million). Operating income before depreciation and amortisation (OIBDA) reached RUB10.82 billion in H1 2021 giving an OIBDA margin of 38%. TDaily reported that ER’s B2B segment revenue reached RUB13.73 billion in January-June 2021, up 37% compared to the corresponding period of 2020, while consumer revenues decreased by 1% to RUB14.56 billion. Consolidated net profit amounted to RUB2.09 billion in 1H21, improving 32% y-o-y.

ER’s president Andrey Kuzyaev commented: ‘The company continues to develop and modernise its infrastructure, improve customer service and expand services for business. On the mass market side, we continue to invest in improving the customer experience and adding value to our products and services to customers.’

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