EquityStory.RS, LLC-News: Mobile TeleSystems PJSC
/ Key word(s): 9 Month figures/Quarter Results
MTS Announces Q3 2020 Results
November 17, 2020
in RUB bn unless indicated otherwise
*All profit & loss figures for 2019 have been restated to reflect the deconsolidation of MTS's former Ukraine operations
Alexey Kornya, President & CEO, commented on the results:
"Today I am happy to report that MTS has delivered another solid set of results for Q3 2020. We successfully overcame COVID-19 headwinds and achieved Group Revenue growth of 4.9% year-over-year, reaching 129.0 billion rubles. Notably, our segments beyond connectivity - Fintech, Media, and Cloud & Digital Solutions - outpaced core telecom services and contributed more than half of year-over-year top-line growth. Group adjusted OIBDA was likewise up a solid 3.3% to reach 58.5 billion rubles.
Encouragingly, in Q3 we saw many impacts from COVID-19 begin to ease. Our stores in Russia resumed mostly normal operations and MTS Bank returned to profitability as the macroeconomic picture became clearer. That said, some of the challenges remain, and in Q3 we saw a sharp year-over-year decline in international roaming revenue as travel restrictions led to a curtailed summer vacation season.
Nevertheless, I am confident that our solid performance during this challenging period only further confirms that we are on the right track with our CLV 2.0 growth strategy. Looking ahead, we remain laser-focused on being the best telecom operator in Russia while also moving forward to capture the growing upside in our digital ecosystem.
Given our strong Q3 results, as well as our increased visibility toward year-end 2020, we are upgrading our full-year guidance to revenue growth of at least +3% (from flat to 3%) and flat to 2% growth in Adjusted OIBDA (from -2% to flat), while maintaining our Cash CAPEX guidance of around RUB 90 bn for the year."
More information at: http://ir.mts.ru/investors/financial-center/financial-results/default.aspx
 Adjusted OIBDA has been adjusted for the reversal of impairment of non-current assets of RUB 21 m for Q3 2020
 Excluding purchases of 4G license in Armenia in 2019 and net of cash proceeds under sharing agreement
 Excluding lease obligations
 Including the effects of IFRS 15 and 16
File: MTS Q3 2020 Results
17.11.2020 MSK Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
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