Rostelecom's financial results for 1H 2023

PJSC Rostelecom announces its financial results for 1H 2023

Key financial figures:

• Revenue: ₽349.3 billion, up 2.9% year-on-year
• OIBDA: ₽126.7 billion, up 1.8% year-on-year
• Net income: ₽33.3 billion, up 12.5% year-on-year

Moscow, Russia - August 3, 2023 - Public Joint Stock Company Rostelecom (MOEX: RTKM, RTKMP; OTCQX: ROSYY), the largest integrated digital service provider in Russia, today announces its financial results for 1H 2023.

Financial highlights:

Revenue increased by 2.9% year-on-year to ₽349.3 billion, driven by growth in the following segments:

• Mobile: Revenue increased by 6.1% year-on-year to ₽117.5 billion, driven by growth in mobile data and mobile financial services.


• Fixed-line: Revenue increased by 1.2% year-on-year to ₽116.9 billion, driven by growth in fiber-optic broadband access.


• Broadband and pay-TV: Revenue increased by 2.6% year-on-year to ₽57.2 billion, driven by growth in broadband subscribers.

OIBDA increased by 1.8% year-on-year to ₽126.7 billion, driven by growth in the following segments:

• Mobile: OIBDA increased by 7.5% year-on-year to ₽56.4 billion, driven by growth in mobile data and mobile financial services.


• Fixed-line: OIBDA decreased by 2.5% year-on-year to ₽47.1 billion, due to higher costs associated with network modernization.


• Broadband and pay-TV: OIBDA increased by 8.1% year-on-year to ₽23.2 billion, driven by growth in broadband subscribers.

Net income increased by 12.5% year-on-year to ₽33.3 billion, driven by growth in revenue and OIBDA, as well as a decrease in financial expenses.

Operational highlights:

• The number of mobile subscribers increased by 1.4% year-on-year to 46.4 million.
• The number of broadband subscribers increased by 2.3% year-on-year to 13.7 million.
• The number of pay-TV subscribers increased by 0.6% year-on-year to 9.8 million.

Commenting on the results, Rostelecom's President and CEO, Mikhail Oseevsky, said:

“Rostelecom has delivered a solid financial performance in 1H 2023, despite the challenging macroeconomic environment. Our revenue and OIBDA both grew year-on-year, driven by growth in our mobile, fixed-line, and broadband and pay-TV segments. We also saw a strong increase in our net income, which was driven by growth in revenue and OIBDA, as well as a decrease in financial expenses. Operationally, we made significant progress in growing our subscriber base, with the number of mobile subscribers increasing by 1.4% year-on-year to 46.4 million, the number of broadband subscribers increasing by 2.3% year-on-year to 13.7 million, and the number of pay-TV subscribers increasing by 0.6% year-on-year to 9.8 million. Looking ahead, we remain confident in our ability to deliver sustainable growth and value for our shareholders. We will continue to focus on investing in our network, developing new products and services, and providing excellent customer service.”

About Public Joint Stock Company Rostelecom

Public Joint Stock Company Rostelecom (MOEX: RTKM, RTKMP; OTCQX: ROSYY) is the largest integrated digital service provider in Russia. We offer a wide range of telecommunication services, including mobile, fixed-line, broadband and pay-TV, as well as cloud-based services and data center solutions. We are also a leading provider of digital solutions for businesses, governments and individuals.

With operations in all regions of Russia, we have a total of more than 100 million customers. We are committed to providing our customers with the best possible experience, and we strive to be the most innovative and customer-focused company in the industry.

For more information, please visit www.rostelecom.ru