- 3Q 2024 Consolidated Group Revenue increased by 15.3% year-over-year to RUB 180.4 bn.
- 3Q 2024 Group OIBDA rose 4.5% year-over-year to RUB 61.5 bn.
- 3Q 2024 Group Net Profit amounted to RUB 1.0 bn (-88.8% year-over-year)
Moscow, 19 November 2024 - Mobile TeleSystems Public Joint Stock Company (MOEX: MTSS, "MTS" or "the Company"), a digital ecosystem, announces its third-quarter 2024 financial and operating results.
In 3Q 2024, consolidated Group revenue rose 15.3% year-over-year to RUB 180.4 bn on the back of increased revenue across all business lines. Group OIBDA increased by 4.5% in the reporting period to RUB 61.5 bn, with a stable upward trend in OIBDA driven by revenues from connectivity services and fintech services. OIBDA growth was constrained by investments in high-potential business streams and the ecosystem, personnel costs as well as one-off expenses. The Group's net profit in 3Q 2024 was RUB 1.0 bn amid an increase in interest expense.
Viacheslav Nikolaev, President and CEO, commented:
"In the first nine months of the year, we maintained stable operations in the face of changing external environment. Our core telecom business demonstrated strong growth and a changing synergies with other ecosystem businesses.
Through our Tariff 24 plan, MTS subscribers have already exchanged more than 10 million minutes for bonus points and traveled over 2 million kilometers on Urent scooters. This campaign enabled us to increase the number of young people in our subscriber base, while also expanding our ecosystem base.
The latter rose to 16.8 million clients, while our ecosystem revenue increased by 16.1% year-over-year. The number of clients using four or more ecosystem products grew by 30%.
Our Adtech business continued its rapid growth thanks to the expansion of our product portfolio, an increase in advertising inventory and growth in our client base. Revenue in the third quarter rose 55.6% to RUB 15.0 billion.
At the same time, we need to adjust our strategy and mode of operations due to the tightening of regulatory and monetary policy. We are completing the development of these measures, and in the coming months we will hold an Investor Day where we will present our vision and strategic plans to the market. "
- Results Press Release
- Presentation
- Summary Financial