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MarketScreener Homepage  >  Equities  >  Nyse  >  Mobile TeleSystems Public Joint Stock Company    MBT

MOBILE TELESYSTEMS PUBLIC JOINT STOCK COMPANY

(MBT)
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Mobile TeleSystems PJSC: MTS Announces Q3 2020 Results

11/17/2020 | 07:02am EST

EquityStory.RS, LLC-News: Mobile TeleSystems PJSC / Key word(s): 9 Month figures/Quarter Results
Mobile TeleSystems PJSC: MTS Announces Q3 2020 Results (news with additional features)

17.11.2020 / 15:00 MSK
The issuer is solely responsible for the content of this announcement.


MTS Announces Q3 2020 Results

November 17, 2020

 

Q3 2020

MTS Group - Key figures*

Q3 2020

Q3 2019

Change,%

Revenue

129.0

123.0

4.9%

    o/w Russia

127.4

121.9

4.4%

Adjusted OIBDA[1]

58.5

56.7

3.3%

    o/w Russia

57.2

55.4

3.1%

Operating profit

33.2

32.6

1.8%

Profit attributable to owners of the Company

18.8

18.4

2.3%

Cash CAPEX[2]

23.4

21.8

7.4%

Net debt[3]

302.4

307.0

-1.5%

Net debt / LTM Adjusted OIBDA[4]

1.4

1.3

n/a

9M 2020 highlights

9M 2020

9M 2019

Change, %

Operating cash flow

109.1

70.3

55.3%

Free cash flow ex-Bank excl. SEC/DOJ payment

54.2

59.5

-9.0%

in RUB bn unless indicated otherwise

*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 I am happy to report that MTS has delivered another solid set of results for Q3 2020. We successfully overcame COVID-19 headwinds and achieved Group Revenue growth of 4.9% year-over-year, reaching 129.0 billion rubles. Notably, our segments beyond connectivity - Fintech, Media, and Cloud & Digital Solutions - outpaced core telecom services and contributed more than half of year-over-year top-line growth. Group adjusted OIBDA was likewise up a solid 3.3% to reach 58.5 billion rubles.

Encouragingly, in Q3 we saw many impacts from COVID-19 begin to ease. Our stores in Russia resumed mostly normal operations and MTS Bank returned to profitability as the macroeconomic picture became clearer. That said, some of the challenges remain, and in Q3 we saw a sharp year-over-year decline in international roaming revenue as travel restrictions led to a curtailed summer vacation season.

Nevertheless, I am confident that our solid performance during this challenging period only further confirms that we are on the right track with our CLV 2.0 growth strategy. Looking ahead, we remain laser-focused on being the best telecom operator in Russia while also moving forward to capture the growing upside in our digital ecosystem.

Given our strong Q3 results, as well as our increased visibility toward year-end 2020, we are upgrading our full-year guidance to revenue growth of at least +3% (from flat to 3%) and flat to 2% growth in Adjusted OIBDA (from -2% to flat), while maintaining our Cash CAPEX guidance of around RUB 90 bn for the year."

More information at: http://ir.mts.ru/investors/financial-center/financial-results/default.aspx

 


[1] Adjusted OIBDA has been adjusted for the reversal of impairment of non-current assets of RUB 21 m for Q3 2020

[2] Excluding purchases of 4G license in Armenia in 2019 and net of cash proceeds under sharing agreement

[3] Excluding lease obligations

[4] Including the effects of IFRS 15 and 16


Additional features:

File: MTS Q3 2020 Results


17.11.2020 MSK Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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1148634  17.11.2020 MSK

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Sales 2020 489 B 6 639 M 6 639 M
Net income 2020 62 216 M 844 M 844 M
Net Debt 2020 424 B 5 751 M 5 751 M
P/E ratio 2020 10,7x
Yield 2020 10,3%
Capitalization 591 B 8 049 M 8 025 M
EV / Sales 2020 2,08x
EV / Sales 2021 1,96x
Nbr of Employees -
Free-Float 34,9%
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 787,18 RUB
Last Close Price 679,62 RUB
Spread / Highest target 38,4%
Spread / Average Target 15,8%
Spread / Lowest Target -5,50%
EPS Revisions
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NameTitle
Alexey Valeryevich Kornya President, Chief Executive Officer & Director
Felix Vladimirovich Evtushenkov Chairman
Victor Belov Chief Technology Officer & Vice President
Dmitry Aleksandrovich Khomchenko Vice President-Information Technology
Regina von Flemming Independent Non-Executive Director
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