Net profit of MTS at the end of 2022 decreased by almost 50%, to 32.6 billion rubles

The net profit of the MTS group for the 2022 financial year decreased by 48.7%, to 32.6 billion rubles, consolidated revenue increased by 2.6%, to 541.7 billion rubles, says in the group’s financial statements. MTS OIBDA for the fiscal year 2022 amounted to 224.3 billion rubles, net debt as of the end of the fourth quarter of 2022 amounted to 383.7 billion rubles.

In the fourth quarter of 2022, the consolidated revenue of the MTS Group amounted to 144.4 billion rubles, which is 1.6% higher than the same period in 2021. Net profit of MTS in the fourth quarter of 2022 amounted to 5.4 billion rubles. OIBDA MTS in the fourth quarter amounted to 55.6 billion rubles.

The group’s cash capital expenditure in the fourth quarter and fiscal year 2022 was RUB 36.3 billion. and 111.2 billion rubles. respectively. At the end of the fourth quarter, MTS’s net debt was RUB 383.7 billion, and the weighted average interest rate on net debt was 7.4%.

“Compared to the same period a year earlier, downward pressure was exerted by foreign exchange differences due to the weakening of the Russian ruble compared to the end of the third quarter of 2022, an increase in income tax expenses against the backdrop of an increase in deferred tax liabilities during the quarter, as well as an increase in financial expenses”, – explained in MTS received net profit.

In February 2023, sanctions were imposed on some MTS subsidiaries. “We are currently studying the impact of these measures on our business. The company’s management is taking appropriate measures to mitigate the negative consequences associated with this,” said Vyacheslav Nikolaev, President of MTS.

Group revenue in the fourth quarter of 2021 was 143.7 billion rubles, net profit – 13.6 billion rubles.

MTS revenue for the third quarter was 135.8 billion rubles, net profit of MTS – 11.9 billion rubles.

Maria Fedotova