Earnings Report /
Russia

Reports in-line 3Q21 results, upgrades OIBDA guidance – NEUTRAL

  • MTS published 3Q21 results that were 1.4-0.5% ahead of our and consensus estimates on revenue

  • In-line Russian MSR dynamics, closing the gap to Tele2 by incremental revenue

  • FL reports strong 24%+ growth (mostly inorganic), Bank’s revenue broadly in line with expectations

Anna Kurbatova
Anna Kurbatova

Senior Analyst, TMT & Agro

Olesya Vorobyeva
Olesya Vorobyeva

Analyst, TMT, Agro and Retail

Alfa
17 November 2021
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