MTS Announces Q2 2019 Results

August 20, 2019
 

Q2 2019 HIGHLIGHTS

Alexey Kornya, President & CEO, commented on the results:

"We are happy to be entering the second half of the year having delivered another quarter of strong performance in Q2. Our total Group revenue was up 9.4% year-over-year, reaching 125.1 billion rubles. Moreover, we saw solid OIBDA growth of 4.1% year-over-year, reaching 56.1 billion rubles-with all of our geographic markets supporting earnings growth.

We also continue to make progress on our transformation, including taking steps to better align our organizational structure with our long-term ambitions. In our core telecommunications business, we are staying laser focused on operational rigor and lean management, while maintaining our flexibilty to pivot and adapt as needed to the evolving competitive landscape. To foster growth within our digital ecosystem, we are allocating top talent into emerging segments and more clearly structuring our new business lines. By better equipping and empowering our product teams, we can move faster in developing, launching, and scaling the new digital services that will power our future growth.

At the halfway point, I am encouraged by our year-to-date performance and proud of the entire MTS team for what we have achieved so far in 2019. Given our strong H1 results and increased visibility in H2, we are raising our full-year guidance to 4-6% growth in revenue, and low-single-digit growth in OIBDA. Looking ahead, I am confident in our team, our mission, and our continuing capability to grow our business for the benefit of our shareholders."

More information at: http://ir.mts.ru/investors/financial-center/financial-results/default.aspx

 

^[1] Excluding lease obligations

^[2] Excluding the effects of new IFRS 9, 15, and 16 standards