Profit growth and bond issue for Rostelecom
March 7, 2018 08.43 Europe/London By Chris Dziadul
Russia’s incumbent telco Rostelecom saw its pay-TV base grow by 4% in 2017, ending the year with 9.8 million subscribers.
Of these, almost half (4.8 million) were IPTV, with the number increasing by an even more impressive 14% during the year.
Rostelecom also had 12.7 million broadband subscribers (+3%) as of the end of 2017, with the overwhelming majority (12million, +3%) residential. At the same time, the number connected to fibre-optic increased by 8% year-on-year to 7.7 million, or 64% of the broadband subscriber base.
Furthermore, its recently introduced MVNO services had 800,000 subscribers, while the number receiving local telephony services fell by 8% during to year to 19.1 million.
Rostelecom’s revenues in 2017 amounted to R305,329 million (€4,361 million) and OIBDA was R96,857 million. Its net income grew by 15% to R14,050 million.
Separately, Rostelecom has announced a R10 billion bond placement. The bonds have a six-year put option from placement and a maturity of 10 years, with a nominal value of R1,000 each.