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Telecom
November 2020 www.intellinews.com I Page 16
Russian telecom major Rostelecom shows solid 3Q20 results
Russian integrated telecom major Rostelecom reported 13% year-on-year growth in revenues, 17% growth in Ebitda, and 31% gain in net income under IFRS in 3Q20, beating consensus expectations.
As reported by bne IntelliNews, in 2019 Rostelecom consolidated control in the "big four" mobile operator Tele2. The state company also remained the major recipient of B2B, B2G
Rostelecom 3Q20 IFRS Review
telecom and infrastructure contracts. Rostelecom is also in focus regarding the planned rollout of 5G in Russia.
In the reporting quarter key revenue growth drivers remained in mobile services (+14%) and cloud services (+62%). By client segment, growth continued to be mostly driven by B2G/ B2B (+23%; 35% revenue), followed by B2C (+7%, 49% revenue).
Source: Company data, BCS GM; Consensus - Interfax
