MBT - MTS Announces Q1 2020 Results
MOSCOW, RUSSIA / ACCESSWIRE / May 26, 2020 / Mobile TeleSystems PJSC (NYSE:MBT)
Q1 2020
in RUB bn unless indicated otherwise
MTS Group - Key figures* |
| Q1 2020 |
| Q1 2019 |
| Change,% |
Revenue |
| 119.6 |
| 109.8 |
| 8.9 |
| % |
o/w Russia |
| 118.1 |
| 109.1 |
| 8.3 |
| % |
Adjusted OIBDA[1] |
| 51.5 |
| 50.7 |
| 1.6 |
| % |
o/w Russia |
| 50.7 |
| 50.0 |
| 1.4 |
| % |
Operating profit |
| 26.5 |
| 27.1 |
| -2.2 |
| % |
Profit attributable to owners of the Company |
| 17.7 |
| 17.6 |
| 0.8 |
| % |
Cash CAPEX |
| 20.2 |
| 16.6 |
| 21.6 |
| % |
Net debt[2] |
| 284.8 |
| 292.4 |
| -2.6 |
| % |
Net debt / LTM Adjusted OIBDA[3] |
| 1.6 |
| x |
| 1.5 |
| x |
| n/a |
Operating cash flow |
| 39.5 |
| -16.1 |
| n/a |
Free cash flow |
| 17.5 |
| -31.4 |
| n/a |
Free cash flow excl. SEC/DOJ payment |
| 17.5 |
| 24.2 |
| -27.8 |
| % |
*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, all eyes are on the global COVID-19 situation. Our thoughts are with the families who have been impacted, as well as those who are on the front lines combating the virus. Connectivity has never been more important, and we are proud to be helping our customers stay informed and in touch with friends and family, as well as colleagues and classmates.
Amid a relatively normal environment in the first three months of the year, I am happy to note we delivered a solid set of results for the quarter. Group revenue increased 8.9% year-over-year to reach 119.6 billion rubles driven by strong telecom performance, as well as positive top-line contributions from MTS Bank and software and handset sales. Group Adjusted OIBDA was up 1.6% to reach RUB 51.5 bn, primarily driven by solid growth in our connectivity.
While we remain confident in the resilience of our core business, given ongoing travel restrictions and public safety measures that are impacting us-particularly in mobile roaming, financial services, and retail-as well as the increased uncertainty in the current environment, we are revising our guidance downward to flat to 3% growth in revenue and -2% to flat in Adjusted OIBDA, while maintaining our cash CAPEX guidance of around RUB 90 bn.
Overall, I am deeply proud of the MTS team and would like to express my appreciation for their professionalism in this challenging environment. Looking ahead, I am cautiously hopeful for the future, and our strategic focus is clear: supporting our customers today while not losing sight of our goals for tomorrow."
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 0.3 bn for Q1 2020
[2] Excluding lease obligations
[3] Excluding the effects of IFRS 15 and 16
SOURCE: Mobile TeleSystems PJSC via EQS Newswire
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