Rostelecom expecting further growth of financial indicators in 2024 - CFO

MOSCOW. Aug 14 (Interfax) - PJSC Rostelecom expects continued strong growth in key financial indicators in 2024, but refrains from providing detailed forecasts amid macroeconomic uncertainty, Rostelecom CFO Anna Tregubenkova said.

Rostelecom had second quarter IFRS revenue of 179.3 billion rubles, a 9% increase versus the same period in 2023, OIBDA increased by 15% to 72.8 billion rubles, while OIBDA margin grew to 40.6% from 38.4%.

"Given the uncertainty surrounding macroeconomic factors, management continues to refrain from providing guidance on key financial indicators in the usual manner for investors, but we expect continued strong business growth and key financial indicators in 2024," Rostelecom cited Tregubenkova as saying in a statement.

Rostelecom boosted revenue 13% to 707.8 billion rubles in 2023. OIBDA rose 13% to 283.2 billion rubles, while the OIBDA margin declined to 40% from 40.1%. Net profit increased by 20% to 42.3 billion rubles.