MegaFon, Russia’s second largest cellular operator by subscribers, has reported consolidated revenues of RUB76.666 billion (USD2.143 billion) for the three months ended 30 June 2014, a 6.1% increase year-on-year. Operating income before depreciation and amortisation (OIBDA) remained stable at RUB34.298 billion for the April-June period, while net profit increased 2.2% to RUB13.886 billion. Capital expenditure for 2Q14 increased 60.6%, from RUB8.343 billion to RUB13.396 billion.
In operational terms, MegaFon’s consolidated subscriber base increased to 70.20 million by end-June, of which 67.99 million are based in Russia; MegaFon’s subsidiaries include Megafon-Tajikistan (formerly TT Mobile), Aquafon in the Republic of Abkhazia and Ostelecom in the Republic of South Ossetia.
CEO Ivan Tavrin commented: ‘In Q2 2014, MegaFon’s performance was in line with its guidance set for the year, despite the difficult macroeconomic environment.’