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Megafon meets FY guidance, sees weaker 2015
2015-03-11 13:50:00| Telecompaper Headlines
(Telecompaper) Russian mobile operator Megafon announced that its revenues grew by 5.9 percent in 2014 to RUB 314.8 billion, compared to the company's outlook for 6-8 percent growth. OIBDA rose by 4.5 percent to RUB 138.5 billion, and the EBITDA margin dropped by 0.6 percentage points to 44.0 percent, in line with its guidance. Net profit declined by 28.8 percent to 36.7 billion, hurt by the depreciation in the ruble. Capital expenditure grew as forecast by 19.8 percent to RUB 56.5 billion, as the operator expanded its 4G coverage. The subscriber base increased by 3 percent to 72.2 million at the end of 2014. For 2015, Megafon forecast flat sales, while the OIBDA margin will fall to as little as 40 percent. Capex will be in line with the plans announced at its IPO, for a range of RUB 165-180 billion in 2013-2015.
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Category:Telecommunications
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