MTS announces 10.6% sales growth in 2Q21

20 Aug 2021

Russia’s Mobile TeleSystems (MTS) announced that its Q2 2021 consolidated group revenue increased by 10.6% year-on-year to RUB128.6 billion (USD1.7 billion) on the back of ‘growth in all key segments: core connectivity, fintech, retail sales, B2B cloud & digital solutions, and media services’, driving operating income before depreciation and amortisation (OIBDA) up by 10.2% to RUB57.2 billion. Net profit in April-June 2021 improved by 46.5% y-o-y to RUB17.2 billion.

MTS’ Russian mobile service revenue grew 5.3% y-o-y to reach RUB85.5 billion in Q2 ‘reflecting positive pricing and subscriber dynamics’, while Russian handset/accessories sales increased 25.3% to RUB15.0 billion, ‘in part reflecting a low base due to pandemic-related store closures’. Revenue at MTS’ Russian fixed telecoms division improved 3.9% y-o-y to RUB16.4 billion in the second quarter, including an inorganic positive y-o-y impact from the consolidation of several acquired businesses.

Russia, Mobile TeleSystems (MTS)