MTS Announces 4Q and FY 2023 results

March 5, 2024
  • FY 2023 Consolidated Group Revenue increased by 13.5% year-over-year to RUB 606.0 bn.
  • FY 2023 Group OIBDA rose 6.4% year-over-year to RUB 234.2 bn.
  • FY 2023 Group Net Profit1 amounted to RUB 54.6 bn (up 67.5% year-over-year).

Moscow, March 5, 2024 — Mobile TeleSystems Public Joint Stock Company (“MTS” or “the Company”) (MOEX: MTSS), a digital ecosystem, announces its fourth-quarter and full-year 2023 financial and operating results.

In 4Q 2023, consolidated Group revenue increased by 18.0% year-over-year to RUB 168.0 bn on the back of higher revenues in all segments. Group OIBDA rose 3.9% in the reporting period to RUB 56.7 bn amid higher revenues in the Telecom segment, excellent results of Fintech, and increased revenue and effective cost management in the Media segment. Investments in the development of promising business streams and product teams had a restraining effect on OIBDA growth. The Group’s net profit in 4Q 2023 was RUB 16.1 bn.

Viacheslav Nikolaev, President and CEO, commented: «Our performance remains robust, with Group revenue increasing at a double-digit pace and our businesses enjoying steady growth, our ecosystem customer base expanded by 11.5% in 2023 to over 15 million people.

When it comes to the ecosystem’s mature businesses, Fintech is making a major contribution to revenue growth. Retail loan portfolio grew by 33% last year to RUB 339 billion, while net profit increased to a record RUB 12.5 billion. In line with its strategy, MTS Fintech is committed to continuing its strong growth, remaining one of the ecosystem’s key drivers and creating the leading digital services in the retail financial services market. At the same time, we are developing this stream as an independent business and attractive investment that operates in line with the best corporate governance practices.

Our B2B telecom business demonstrated excellent results last year. We remain the leaders in Russia’s B2B market, with robust growth of 17% year-on-year, driven by the Internet of Things as well as intelligent connectivity systems and communication services under the MTS Link and MTS Exolve banners. We also completed the first tests of our proprietary base station under real-world conditions last year, and our first hundred stations will be up and running on our network before the end of 2024.

Thanks to synergies among all our businesses and ongoing investments to develop both our primary businesses and new streams, we can look to the future with confidence as we continue to improve the quality of our ecosystem services for our tens of millions of customers».


1 Attributable to the owners of the Company.