MTS reports financial results for the second quarter

In the second quarter of this year, MTS' consolidated revenue increased by 14.4% year-on-year to 195.4 billion rubles, updating a historical record. This is evidenced by the financial statements of the company, distributed on Tuesday, August 19.

Revenue increased on the back of revenue growth in the core telecom business and emerging areas. Thus, the revenue of the telecom sector in the second quarter increased by 9.1% year-on-year to 122.5 billion rubles. The subscriber base in Russia has grown to 83 million subscribers.

The Group's OIBDA increased by 11.3% to RUB 72.7 billion in the reporting period. This dynamic is related to the optimization of operating expenses and is supported by revenues from communication services, the advertising segment and the media sector, the company explained.

The group's net profit for the second quarter of the year amounted to 2.8 billion rubles. The ratio of net debt to LTM OIBDA was 1.7, down 0.1 from the level at the end of the second quarter of last year.

According to Inessa Galaktionova, CEO and Chairman of the Management Board of MTS, "the improvement in financial performance in the second quarter is the result of systematic and well—coordinated management efforts to improve operational efficiency and focus investments on highly profitable projects." "The Group remains focused on maintaining a double—digit revenue growth rate by the end of 2025," she added.