August 23, 2013 11.22 Europe/London By Chris Dziadul
Russia’s Rostelecom ended the second quarter with 6.9 million pay-TV subscribers, an increase of 11% on the same period last year.
Of these, 1.7 million, or 69% more than a year earlier, opted for IPTV services.
Rostelecom also saw strong growth in its broadband subscriber total, up 11% over the same period to 9.6 million. The company’s total revenues in the second quarter amounted to R77,030 million (€1.740.4 million), an increase of 1% year-on-year.
However, its OIBDA was down by 6% year-on-year to R28,830 million and net income by 3% to R7,275 million.
Rostelecom’s president Sergey Kalugin noted: “In terms of our operational results, we are growing our subscriber base in some of the industry’s key growth segments – broadband and pay-TV. There is a great deal of work to do in improving financial results of the Company, but we are pleased with the early progress we are making.
“The Company’s reorganisation is almost completed, and in terms of our infrastructure, 3G networks have now been launched in 21 regions. We have also enhanced our management team, which is now made up of like-minded, highly successful professionals with vast experience in telecoms, finance and marketing.
“A number of key areas have been identified where improvements should be made if Rostelecom is to maximise its efficiency. We are finalising the details of our strategy, which will be submitted to the Board, and it will focus on accelerating the upgrade of our network infrastructure, improving customer experience and developing products that will distinguish Rostelecom from competition and deliver sustainable growth – Rostelecom now certainly has the ingredients in place to deliver this.”