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MTS Announces Q2 2020 Results

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MOSCOW, RUSSIA / ACCESSWIRE / August 19, 2020 / Mobile TeleSystems PJSC (NYSE:MBT)

Q2 2020

in RUB bn unless indicated otherwise

MTS Group - Key figures*

Q2 2020

Q2 2019

Change,%

Revenue

117.7

116.2

1.3

%

o/w Russia

116.3

115.3

0.8

%

Adjusted OIBDA[1]

51.6

51.3

0.6

%

o/w Russia

50.4

50.3

0.3

%

Operating profit

26.0

27.1

-4.2

%

Profit attributable to owners of the Company

11.8

12.7

-7.5

%

Cash CAPEX[2]

20.6

22.7

-9.1

%

Net debt[3]

282.5

310.1

-8.9

%

Net debt / LTM Adjusted OIBDA[4]

1.3

x

1.4

x

n/a

H1 2020 highlights

H1 2020

H1 2019

Change, %

Operating cash flow

64.6

4.9

13

x

Free cash flow

24.8

-32.9

n/a

Free cash flow excl. SEC/DOJ payment

24.8

22.7

9.2

%

*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:

"As the world navigates 2020, two things have become crystal clear: connectivity has never been so essential, and digital transformation is accelerating like never before. These trends only further reaffirm MTS's long-term strategy to maintain a leading network while moving forward to capture new opportunities in segments beyond connectivity.

Despite facing some challenges as a result of the COVID-19 pandemic, I am happy to report that MTS delivered positive top-line growth in Q2 2020. Group revenue increased 1.3% to reach 117.7 billion rubles, with major positive contributions from MTS Bank as well as core connectivity. In addition, we saw Group adj. OIBDA notch upward 0.6% to 51.6 billion rubles, with negative COVID-19 impacts in roaming and banking more than offset by positive contributions from core services, OPEX savings in retail, and other factors.

While some uncertainty and headwinds remain - in particular lower levels of international roaming as we enter peak summer travel season - we now have some additional clarity as we head further into the second half of the year. Given our proven record of core resilience, continued operational agility, and sustained demand for connectivity services, we are reaffirming our earlier full-year 2020 guidance of flat to 3% growth in revenue, -2% to flat in Adjusted OIBDA, and cash CAPEX of around RUB 90 bn."

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

[1] Adjusted OIBDA doesn't include a loss from impairment of non-current assets of RUB 0.9 bn for Q2 2020

[2] Excluding costs of RUB 0.02 bn related to the purchase of 4G licenses in Armenia in H1 2019

[3] Excluding lease obligations

[4] Including the effects of IFRS 15 and 16

SOURCE:

Mobile TeleSystems PJSC via EQS Newswire



View source version on accesswire.com:
https://www.accesswire.com/602388/MTS-Announces-Q2-2020-Results