Tele2 slows revenue slump to 2.5% in Q4
MOSCOW. March 15 (Interfax) - T2 RTC Holding, a Russian mobile provider that operates under the Tele2 brand, closed 2015 with revenue of 94.8 billion rubles, national telecom operator Rostelecom , which owns 45% of the company, reported.
T2 RTC posted revenue of 70.6 billion rubles in the first nine months of 2015, so revenue in the fourth quarter totalled 24.3 billion rubles, down 2.5% from 24.9 billion rubles a year earlier.
The company managed to slow the decline of its revenue in the fourth quarter. Its revenue dropped 4.2% to 23.9 billion rubles in the third quarter. The company attributed this to a drop in revenue from voice services. Most of Tele2's 3G and 4G networks were put into commercial operation in the second and third quarters of 2015, including on October 22 in Moscow, so revenue growth from data services has not managed to offset the decline of voice revenues, the company said.
T2 RTC's revenue totalled 87.4 billion rubles in 2014, so revenue grew 8.5% in 2015. However, it would not be correct to make a direct comparison of annual results for these two years, because Tele2 took over the mobile assets of Rostelecom in 2014 in two stages that were completed on August 6, 2014.
A spokesman for Tele2 declined to comment on the revenue figures to Interfax before the publication of the company's financial and operating results for 2015 at the beginning of April.
