Mobil’nye Telesistemy PAO (NYSE:MBT) issued its unaudited IFRS financial report for the quarter closed September 30, 2017. Andrei Dubovskov, the CEO and President, expressed that they are delighted to post another set of results for company. For the period, the group revenue surged 2.1% YoY to RUB 114.6 bln as a continued improvement in consumer and business sentiment has enabled them to monetize the robust growth in data and voice usage in Russia regardless of a slight YoY drop in subscribers.
Mobil’nye Telesistemy recorded a positive contribution from its Ukraine subsidiary, where overall growth is also supported by increased data adoption. Dubovskov remarkable growth in profitability comes from increased usage of increased-value data offerings in Russia, including enhanced global roaming activity, in addition to their initiatives to optimize retail operations. For the quarter, they recorded gains from a small decline in retail outlets, going back from the starting of the year, as well as a marginal decline in SIM-card sales.
Mobil’nye Telesistemy has been active in the digital segment by expanding into segments, which complement company’s core offerings. Dubovskov bought LiteBox, an active provider of web cash register services, to improve their payments ecosystem and extend their B2B platform for business customers and merchants.
They also bought a part in Sistema Capital Management to expand their financial service portfolio. The company introduced a Big-Data-as-a-Service product, launched a new application MTS Taxi and enhanced their interactive TV service offering with an objective of offering consumers with better and broader services. They also finalized a milestone deal with Ericsson to set company’s network for 5G services over the upcoming few years.
Provided company’s robust 9M performance, they consider they can revise their projection to reflect their improving market position. The management has reduced its outlook for Group Revenue to 0/+2% growth from -2/+2% growth.
This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.financialstrend.com