Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

MegaFon Shows Strong 3Q Performance
18.11.2014 11:29
MegaFon Shows Strong 3Q Performance
Photo Credit:

MegaFon (LSE: MFON), a leading Russian integrated telecommunications operator, has announced its unaudited consolidated financial results for the third quarter ended 30 September 2014.


Key highlights of the Third Quarter 2014


• Consolidated revenue grew by 4.5% y-o-y to RUB 81,066 million

      • OIBDA increased by 5.3% y-o-y to RUB 37,263 million

      • OIBDA margin grew to 46.0% versus 45.6% in Q3 2013

      • Net Profit decreased by 16.5% y-o-y to RUB 12,792 million

      • CAPEX increased by 31.4% y-o-y to RUB 14,268 million

      • Free Cash Flow amounted to RUB 25,415 million

      • Net Debt as of 30 September 2014 was RUB 140,283 million

      • The number of mobile subscribers grew by 4.7% y-o-y to 71.5 million as of 30 September 2014


Key Corporate events of the Third Quarter 2014


- In July , MegaFon completed the previously-agreed acquisition of a 50% interest in

      Euroset using the Company’s treasury shares, as permitted under the acquisition

      agreement. This transaction resulted in the extinguishing of a 0.6 billion US-dollar

      exposure and a reduction in future interest expense

      - Standard and Poor’s affirmed MegaFon’s rating at “BBB-“ and upgraded the national

      currency outlook to “stable”, recognizing the Company’s robust market position and

      credit quality

      - In October, pursuant to a mandatory put option MegaFon re-purchased at par c. RUB

      8.25 billion of its Series 05 ruble-denominated bonds, out of the total issue of RUB 10

      billion, placed in 2012


“MegaFon's performance in Q3 2014 is in line with our full-year guidance. Compared to a year earlier, our consolidated revenue has increased by 4.5% to 81.1 billion rubles, and the Company’s subscriber base has grown by 3.2 million to reach 71.5 million subscribers. Our continuing efforts to improve cost efficiency and reduce operating expenditures resulted in our OIBDA growing by 5.3% to 37.3 billion rubles. OIBDA margin in Q3 2014 increased 0.4 percentage points, to 46%,” said Ivan Tavrin, MegaFon’s Chief Executive Officer. 

Author: Mikhail Vesely

Tags: Megafon     

Next Previous

You might also find interesting:

The Russian SOK Co-working Network will Expand Abroad
The Russian Sistema_VC Fund Invested in the DataSine Project that is Engaged in Personalizing Content for Customers
Large Foreign Companies Showed the Worst Results in Entering and Leaving the Russian Market in 2018
Yandex Ranked Among the Fastest Growing Companies in the World
The Number of People Employed in the SME Sector Decreased by Almost 600 Thousand People

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Sergei Lazarev  Installations  Helikon-Opera  Concerts in St. Petersburg  Oceanarium  Aleksandr Shevchenko  Exhibitions in Moscow  Russian ballet dancers  Russian tourism  Moscow planetarium  Graffiti  health  Russian ballet  international cooperation  Spaceport Vostochny  Teresa Durova  Festivals in Moscow  New Acropolis Cultural Centre  TNK-BP  Maloyaroslavets  Russian Cinema  Mikhail Bulgakov  Nikolay Krymov  business  Mercedes-Benz Fashion Week Russia  travel to Russia  Russian business  Moscow  Yandex  agriculture  St. Petersburg  CBRE  Igor Starygin  Russian Birchbark Manuscripts  Darwin Museum  incident  Znamenka  Sochi Olympic Games 2014  Festival "Ice Moscow"  Andrey Zvyagintsev  Visual Arts  Moscow Subway  Russian National Parks  accident  Vladimir Atlantov  Bear attacks  Donald Trump  Russian regions  Russian media  Crimea 

Travel Blogs
Top Traveling Sites