Russian mobile operator Megafon said revenues grew by 4.5 percent year-on-year in the fourth quarter, to RUB 88.412 billion. The OIBDA meanwhile decreased to RUB 27.561 billion, down by 4.5 percent, the OIBDA margin declined by 2.9 percentage points to 31.2 percent and the net profit dropped by 62.7 percent to RUB 1.133 billion. Results were affected by higher expenses and capex, plus customer losses.
The rise in total revenues was offset by an increase in advertising expenses and a significant growth in spectrum expenses following the revision of charges by the regulator, as well as other factors.
Capex jumped 72.9 percent to RUB 38.260 billion. The net debt was RUB 294.318 billion at the end of 2018.
Mobile subscriber base totaled 76.9 million at the end of 2018, down by 0.3 percent.
Revenues totaled RUB 87.051 billion in Russia, up by 4.3 percent year-on-year and amounting to over 98.5 percent of total revenues.
