MTS Q1 group revenue up 8.5%

19 May 2022

Russia’s Mobile TeleSystems (MTS) reported that Q1 2022 consolidated group revenue increased 8.5% year-on-year to RUB134.4 billion (USD2.1 billion), driven by robust top-line performance in its Telecom, Fintech and Media segments, of which Russia accounted for RUB130.0 billion, up 7.6% y-o-y. Group adjusted operating income before depreciation and amortisation (OIBDA) grew 2.0% y-o-y to RUB56.5 billion in January-March 2022, primarily supported by solid business performance in core telecom services. In Q1 2022 group net profit amounted to RUB3.9 billion, compared to RUB16.2 billion in 1Q21.

In the Telecom segment, Russia connectivity service revenue increased 6.7% y-o-y to RUB104.8 billion, with Russian handsets/accessories sales declining 10.7% to RUB13.8 billion. Russian three-month active mobile subscriptions including machine-to-machine (M2M) declined slightly quarter-on-quarter to 80.0 million at 31 March 2022 from 80.4 million at the start of the year, although up from 78.4 million in 1Q21. Fintech revenue increased 47.5% y-o-y in 1Q22 to reach RUB14.9 billion, and in the Media division, OTT subscriptions surged 16.6% q-o-q to 4.7 million at end-March 2022 and total ‘pay-TV viewers’ grew 8.3% q-o-q to more than 9.0 million. MTS ‘ecosystem clients’ reached 11.0 million at the end of the quarter, up 70% y-o-y, and ‘average products per customer’ increased to 1.49, up from 1.34 in the prior-year period.

Russia, Mobile TeleSystems (MTS)