Russia's ER-Telecom posts 25% jump in revenues

Russia's ER-Telecom posts 25% jump in revenues

Russian telecommunication holding company ER-Telecom has posted a 25% year-on-year rise in consolidated revenues for the first nine months of 2021, to RUB48.0 billion (USD658 million).

The Operating income before depreciation and amortisation (OIBDA) margin was 43%, said a press release from the first federal telecommunication company.

The buoyant figures are attributed to B2B revenue increasing by 60% y-o-y to RUB26 billion, although B2C revenue fell 1% to RUB22 billion. 9M21 net profit jumped by 105% to RUB6.3 billion.

Andrey Kuzyaev, President of JSC ER-Telecom Holding, said: In accordance with the company's strategy, the B2B segment is a key growth factor. We are increasing investment in infrastructure to ensure our sustainable technology leadership. I am sure that starting from the 4th quarter of 2021 and in general over the year we will show growth in the B2C segment."

Recently, the Expert RA rating agency has affirmed the credit rating of ER-Telecom Holding JSC at ruBBB + with a positive outlook.

The agency has a positive assessment of the company's business profile. The demand and prices for the services of telecom operators are stable and practically not subject to external economic shocks. Therefore, Expert RA assesses the telecommunications industry as extremely stable, despite the overall situation in the economy.

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