Russian fixed broadband network operator ER-Telecom posted a 25% year-on-year rise in consolidated revenues for the first nine months of 2021, to RUB48.0 billion (USD658 million), driven by B2B revenue increasing by 60% y-o-y to RUB26 billion, although B2C revenue fell 1% to RUB22 billion. Operating income before depreciation and amortisation (OIBDA) reached RUB20.5 billion in January-September 2021, representing an OIBDA margin of 43%. 9M21 net profit jumped by 105% to RUB6.3 billion.
Andrey Kuzyaev, President of ER-Telecom, commented: ‘In accordance with the company’s strategy, the B2B segment is a key growth factor. We are increasing investment in infrastructure to ensure our sustainable technology leadership. I am confident that starting from the fourth quarter of 2021 and throughout the year as a whole, we will show growth in the B2C segment.’