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Photo Credit: http://www.ferra.ru
MegaFon (LSE: MFON), a major Russian telecommunications operator, has published its unaudited consolidated financial results for the second quarter and first half of 2015.
Here are the key highlights for the Q2 2015:
· Consolidated revenue decreased by 0.7% year over year (“y-o-y”)to RUB 76,141 million
· Revenue from wireless data services increased by 20.3% y-o-y to RUB 19,459 million
· OIBDA increased by 1.3% y-o-y to RUB 34,737 million
· OIBDA margin was 45.6% versus 44.7% in Q2 2014
· Net Profit decreased by 6.4% y-o-y to RUB 13,001 million
· CAPEX decreased by 6.4% y-o-y to RUB 12,536 million
· Free Cash Flow amounted to RUB 19,345 million
· Net Debt as of 30 June 2015 was RUB 113,608 million
· The number of mobile subscribers grew by 5.1% y-o-y to 73.8 millionas of 30 June 2015
Here are the key highlights for the H1 2015:
· Consolidated revenue decreased by 0.9% y-o-y to RUB 150,124 million
· Revenue from wireless data services increased by 15.4% y-o-y to RUB 37,314 million
· OIBDA decreased by 0.1% y-o-y to RUB 66,701 million
· OIBDA margin grew to 44.4% versus 44.1% in 2014
· Net Profit decreased by 3.4% y-o-y to RUB 20,403 million
· CAPEX decreased by 5.1% y-o-y to RUB 20,629 million
· Free Cash Flow totaled RUB 31,091 million
MegaFon was the first all-Russian mobile network operator to use the dual band GSM-900/1800 cellular network. The company was formed after renaming and reorganizing North-West GSM and consolidating under one name with Sonyc Duo (Moscow), Mobicom-KAvkaz, Mobocom Novosibirsk, Mobikom-Khabarovsk, Mobocom-Kirov and several other companies in May 2002.
MegaFon is the first operator in Russia that has successfully tested an experimental network of the 4G, LTE protocol. By fall 2012, 4G networks have been rolled out in the regions accounting for more than 20% of the population - Moscow, Moscow Region, Novosibirsk, Samara, Vladivostok, Ufa, Krasnodar Territory, Sochi, Saint-Petersburg, Kazan, Kostroma. MegaFon seeks to provide 4G connection to 100,000 subscribers in Russia.
The development of 3G and 4G networks is a priority for the company in the upcoming years.
The company floated 15 percent of its stock during the IPO on November 28, 2012 at the Moscow Stock Exchange and the London Stock Exchange. The mobile operator sold its shares for 20 dollars, raising some $1.7 billion.
Estimated at $11.7 billion, the company became the last of the three biggest operators to go public.
Sources: http://ir.megafon.com
Author: Mikhail Vesely
