MegaFon’s Revenues Up 4.5% in Q’2

9 August 2019 (09:08)

UrBC, Moscow, August 9, 2019. MegaFon’s revenues rose by 4.5% in the second quarter of 2019 and amounted to RUB 85.6bn, while the OIBDA rose by 20.6%, the telecom company’s press service reports. Service revenues went up by 3.3% and amounted to RUB 78.8bn.

The number of MegaFon’s mobile subscriptions increased by 0.1% against one year earlier and came to 77.6m altogether as of June 30, 2019. The number of mobile data users rose by 6.9%, to 34.45m people, as of June 30, 2019.

According to the company’s press service, a MegaFon user now needs more than 11.3 Gb of traffic every month on average, which is 33% more than in the second quarter of 2018.

‘We did quite well in terms of financial performance in the second quarter of the year. Our service revenues keep growing as we have been selling more mobile data traffic and promoting our digital services, which are currently the company’s business priority. As a result, our digital solutions-related revenues went up by 30.2% in the course of one year,’ CFO MegaFon Nikita Orlov says.

MegaFon also announced the launch of a new, breakthrough project on the retail telecom market: the innovative-format stores dubbed Digital Lounge of The Future. This project will require up to RUB 2bn worth of investments.

‘A number of important partnership agreements got signed in the second quarter of the year, including the agreement to set up a JV with AliExpress Russia and the agreement to build a high-speed fiber optic line in the Arctic Ocean. The two projects will help us achieve our goal of becoming the national digital leader. We keep working to retain our tech leadership and contribute extensively to testing and launching new-generation communication technologies. I am proud to say that MegaFon was Russia’s first company to place an international 5G video call. It should also be noted that MegaFon’s mobile internet connection has been rated as Russia’s fastest (according to Ookla’s research findings) for the third year in a row,’ says MegaFon’s Director-General Gevork Vermishyan.

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