MTS Announces Q2 2022 Results
- Q2 2022 Consolidated Group Revenue increased 0.7% year-over-year to RUB 127.8 bn. Consolidated Group revenue for 6M 2022 increased 4.2% to RUB 259.7 bn.
- Q2 2022 Group Adjusted OIBDA amounted to RUB 51.8 bn. Group Adjusted OIBDA for 6M 2022 amounted to RUB 108.2 bn.
- Q2 2022 Group Net Profit amounted to RUB 10.9 bn. Group Net Profit for 6M 2022 amounted to RUB 14.8 bn.
MOSCOW, August 18, 2022 — Mobile TeleSystems Public Joint Stock Company (“MTS” or “the Company”) (MOEX: MTSS), a leading provider of digital and media services and Russia’s largest mobile operator, announces its second-quarter 2022 financial and operating results.
In Q2 2022, Consolidated Group Revenue increased 0.7% year-over-year to RUB 127.8 bn, driven primarily by the performance in the Company’s Telecom, Fintech, and Media verticals. Group Adjusted OIBDA amounted to RUB 51.8 bn on the back of provisions accrual in the Fintech segment, reflecting challenging macroeconomic environment. In Q2 2022, Group Net Profit came to RUB 10.9 bn.
Viacheslav Nikolaev, President & CEO, commented: “In the second quarter of 2022, MTS largely adapted to the new macroeconomic environment. Communication services have always been and will continue to be a basic human necessity, and our primary goal remains to ensure uninterrupted network connectivity regardless of economic constraints. MTS’s strategy to develop a digital product ecosystem based on a strong telecoms platform is proving relevant in the new economic environment. We have seen stable demand for connectivity services from private and corporate customers alike and continue to see growth in the popularity of our MTS Premium subscription service. We are also launching new products and continue to invest in new areas, some of which are showing double-digit revenue growth.
I am confident that our expertise and ability to provide uninterrupted, high-quality services will enable us to overcome challenges and will be the key to the sustainability of our business.”