MegaFon revenues climb 7.1% in Q2

MegaFon revenues climb 7.1% in Q2

MegaFon, the second-largest mobile phone operator and the third-largest telecom operator in Russia, announced that its revenues grew by 7.1% year-on-year to RUB84.1 billion (USD1.1 billion) in the second quarter of 2021, with underlying service revenue improving by 4.5% to RUB76.6 billion.

"Key growth drivers included revenue from data services, content services (in particular from the START group), and digital services, where there is continued strong demand for analytical services using big data and innovative solutions to organise remote work and remote management of facilities. International roaming revenue also showed growth as border restrictions were eased," MegaFon said in a press release.

Meanwhile, MegaFon’s customer base in Russia (calculated using the new accounting system referred to below) grew 2.1% y-o-y to 72 million.

Following its migration to a new billing model, completed in 2H 2020, MegaFon has adjusted its system for accounting for its customer base. The new system not only imposes stricter requirements for monitoring customer activity but will also enable the Company to use its numbering capacity more effectively.

The total number of base stations in Q2 2021 exceeded 199,600, with the advanced 4G/LTE segment showing a 17.5% growth y-o-y.

In Q2 2021, CAPEX grew 4.6% y-o-y to RUB 13.7 billion, thereby ensuring the high quality of our subscriber services and helping the Company retain its leading position in the mobile data market.

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