Page 139 - RusRPTSept23

to $916mn in April–June, excluding the results of the Russian office intended for sale, as calculated under International Financial Reporting Standards (IFRS), the company said on August 3. “Completing the sale of our Russia operations and financial disciple remain our top priorities. We have closed the quarter with a strong liquidity position, with Group holding cash and cash equivalents totaling $2.4bn, nearly $2.0bn of which was held at the headquarters level as of June 30,” the company said citing CEO Kaan Terzioglu Earnings before interest, taxes, depreciation, and amortization (EBITDA) contracted 10.6% to $415mn. VEON raised the forecast for revenue in the national currencies for 2023 by 16–19%, while the forecast for the growth of EBITDA was kept at 10–14%.
The net profit of Russian mobile operator MegaFon jumped 133.9% on the year to RUB26.925bn in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said on August 21/
Russia’s Rostelecom has broken an 18-month silence on its financial performance with a robust 8% rise in 2022 revenue meaning the firm may pay dividends, while analysts said the state-controlled telecom operator will focus on digital services. Rostelecom’s 2022 revenue rose to 627.1bn rubles. The operator’s free cash flow rocketed by 39% to 45.2bn rubles. The January–June net profit rose by 18% to 26.9bn rubles on the year. Revenue grew by 15% to 324.5bn rubles. OIBDA climbed 8% to 135.1bn rubles, and the OIBDA margin lost 2.6 percentage points to 41.6%. Capital expenditures fell by 7% to 45.9bn rubles. The net debt narrowed by 3% on the year to 471.7bn rubles as of the end of June. The free cash flow advanced to 73.6bn rubles from 15.1bn rubles a year earlier. But the April–June net profit contracted by 24% on the year to 9.5bn rubles. Revenue rose by 14% to 165bn rubles. OIBDA fell by 1% to 63.3bn rubles, and the OIBDA margin fell 5.8 percentage points to 38.4%. Capital expenditures rose by 7% to 27bn rubles. The free cash flow doubled to 20.6bn rubles from 9.8bn rubles a year earlier.
9.2.9 Tourism corporate news
9.2.10 Utilities & Renewables corporate news 9.2.11 Mines and Minerals - gold & diamonds
RUSSIA Country Report September 2023 www.intellinews.com