ROSTELECOM Total equity 217,676 214,070 Non-current liabilities Loans and borrowings 22 372,406 280,571 Lease liabilities 10 86,392 63,156 Employee benefits 27 6,670 5,881 Deferred tax liabilities 28 41,494 39,425 Accounts payable and accrued expenses 23 1,580 1,496 Contract liabilities 25 15,811 17,472 Provisions 24 5,848 4,418 Other non-current financial liabilities 39 10,912 - Other non-current liabilities 26 32,831 19,052 Total non-current liabilities 573,944 431,471 Current liabilities Loans and borrowings 22 32,535 81,277 Lease liabilities 10 17,399 12,444 Accounts payable and accrued expenses 23 96,022 86,538 Income tax payable 3,023 2,692 Contract liabilities 25 34,680 31,353 Provisions 24 9,413 7,283 Other financial liabilities 39 1,914 164 Other current liabilities 26 13,155 16,603 Total current liabilities 208,141 238,354 Total liabilities 782,085 669,825 Total equity and liabilities 999,761 883,895
PJSC Rostelecom is the largest integrated digital services and products provider, operating in all segments of the telecommunications market in Russia. The Company serves millions of households, state and private enterprises across the country.
Rostelecom is Russia's undisputed market leader, providing high-speed Internet access and pay-TV. The total number of broadband users stands at over 13.4 mln users, it has more than 10.7 mln pay-TV customers, over 5.9 mln of which are subscribed to Rostelecom's IPTV services. Tele2 Russia, a Rostelecom subsidiary, is a major player in the mobile market with over 44 mln subscribers and the industry-leading NPS, a customer satisfaction benchmark.
During the FY 2020, the Group generated RUB 546.9 bln of revenues, RUB 194.1 bln of OIBDA (35.5% of revenue) and RUB 25.3 bln of net income.
The Group is the leading provider of telecommunications services to government bodies and corporates of all levels.
Rostelecom is a key strategic innovator that provides solutions in the following fields: E-Government, cybersecurity, data-centres and cloud computing, biometry, healthcare, education and housing & utility services.
The Group's stable financial position is confirmed by its credit ratings. Rostelecom has been assigned 'BBB-' and 'BB+' international credit ratings by Fitch Ratings and Standard & Poor's respectively, and AA(RU) by ACRA.
* * *
Certain statements in this press release are forward-looking statements within the meaning of the U.S. federal securities laws and intended to be covered by the safe harbours created thereby.
Those forward-looking statements include, but are not limited to: ? Assessment of PAO Rostelecom's (the Company) future operating and financial results as well as forecasts of the
present value of future cash flows and related factors; ? The Company's plans to take ownership stakes in other organisations; ? the Company's anticipated capital expenditures and plans to construct and modernize its network; ? the Company's expectations as to the growth in demand for its services, plans relating to the expansion of the
range of its services and their pricing; ? the Company's plans with respect to improving its corporate governance practices; ? the Company's expectations as to its position in the telecommunications market and forecasts on the development of
the market segments within which the Company operates; ? economic outlook and industry trends; ? the Company's expectations as to the regulation of the Russian telecommunications industry and assessment of impact
of regulatory initiatives on the Company's activity; ? other statements regarding matters that are not historical facts.
Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties and other factors include: ? risks relating to changes in political, economic and social conditions in Russia as well as changes in global
economic conditions; ? risks relating to Russian legislation, regulation and taxation, including laws, regulations, decrees and decisions
governing the Russian telecommunications industry, securities industry as well as currency and exchange controls
relating to Russian entities and their official interpretation by regulatory bodies; ? risks relating to the Company, including the achievement of the anticipated results, levels of profitability and
growth, ability to create and meet demand for the Company's services including their promotions, and the ability of
the Company to remain competitive in a liberalized telecommunications market; ? technological risks associated with the functioning and development of the telecommunications infrastructure,
technological innovations as well as the convergence of technologies; ? other risks and uncertainties. For a more detailed discussion of these and other factors, see the Company's Annual
Report and the Company's other public filings.
Many of these factors are beyond the Company's ability to control or predict. Given these and other uncertainties, readers are cautioned not to place undue reliance on any of the forward-looking statements contained herein or otherwise. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements (which are made as of the date hereof) to reflect events or circumstances upon the annual report publication or to reflect the occurrence of unanticipated events, except as may be required under applicable laws. -----------------------------------------------------------------------------------------------------------------------
[1] Here and below, please refer to Attachment 1 of this statement for a full definition of OIBDA. Note that the company changed the methodology for calculating OIBDA changed in 3q 2018 having excluded expenses related to non-government pension insurance. Historical OIBDA numbers for 2018 and relevant periods of 2017 were recalculated in line with the renewed methodology.
[2] International financial reporting standards.
[3] Here and below, capital expenditure ("CAPEX") comprises cash spent on fixed assets and intangible assets.
[4] Here and below Free Cash Flow (FCF) is calculated as net cash from operating activity minus CAPEX, plus proceeds from selling fixed assets and intangible assets, plus interest received, plus subsidy from government.
[5] Here and below, Net Debt is calculated as total debt less cash, cash equivalents and short-term investments (other financial assets).
[6] Average revenue per user
[7] Blended ARPU includes revenue from one user subscribed to a number of services simultaneously, including broadband, IPTV and digital cable TV
[8] Operator to Operator
[9] Based on GSMA and Analysis Mason DataHub data
[10] ITU, International Telecommunication Union -----------------------------------------------------------------------------------------------------------------------
ISIN: US7785291078 Category Code: FR TIDM: RKMD LEI Code: 2534001D752JPNM0H170 Sequence No.: 95094 EQS News ID: 1174067 End of Announcement EQS News Service =------------------------------------------------------------------------------------
(END) Dow Jones Newswires
March 09, 2021 01:35 ET (06:35 GMT)
