Results for January — March 2017

 

Almaty, 26 April 2017 — Kcell Joint Stock Company («Kcell» or the «Company») (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan by market share in terms of revenue and subscribers, announces its interim results for January — March 2017.

 

First quarter

 

  • Net sales increased by 0.1 percent to
    KZT 35,517 million (35,470). Service revenue down 1.5 percent to KZT 33,022 million (33,514).
  • EBITDA, excluding non-recurring items, decreased by 12.1 percent to KZT 13,126 million (14,928). The EBITDA margin was at 37.0 percent (42.1).
  • Operating income, excluding non-recurring items, down 20.4 percent to KZT 7,496 million (9,415).
  • Net finance cost increased to KZT 2,683 million (750).
  • Net income decreased by 42.7 percent to KZT 3,799 million (6,625).
  • CAPEX-to-sales ratio of 16.7 percent (82.2, 8.9 excluding KZT 26 billion for frequencies).
  • Free cash flow increased to KZT 1,748 million (-13,494).
  • During the quarter, the subscriber base remained stable quarter-on-quarter at 9,979 thousand, and increased by 124 thousand subscribers year-on-year (9,855).

 

Financial highlights

KZT in millions, except key ratios,
per share data and changes

Jan-Mar

2017

Jan-Mar

2016

Chg
(%)

Jan-Dec

2016

Revenue

35,517

35,470

0.1

147,037

of which service revenue

33,022

33,514

-1.5

137,337

EBITDA excl. non-recurring items

13,126

14,928

-12.1

57,989

Margin (%)

37.0

42.1

 

39.4

Operating income

7,496

9,058

-17.2

31,041

Operating income excl. non-recurring items

7,496

9,415

-20.4

33,740

Net income attributable to owners of the parent company

3,799

6,625

-42.7

16,684

Earnings per share (KZT)

19.0

33.1

-42.7

83.4

CAPEX-to-sales (%)

16.7

82.2

 

34.7

Free cash flow

1,748

-13,494

 

-13,293

 

In this report, comparative figures are provided in parentheses following the operational and financial results and refer to the same item in the first quarter of 2016, unless otherwise stated.

FULL REPORT