Rostelecom’s net profit for last year amounted to 24.1 billion rubles, which is 43.2% less than the 42.3 billion that the company received in 2023. At the same time, revenue in 2024 increased by 10% to 779.9 billion rubles, Kommersant writes, citing Rostelecom’s financial report.
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Rostelecom Deputy President and Chairman of the Management Board Anna Tregubenkova said that the decrease in the volume of net profit received was mainly due to the growth of expenses caused by the refinancing of the debt portfolio at higher rates. The indicators were also affected by the recalculation of deferred tax payments due to the increase in the profit tax rate from 2025.
The company’s financial statements indicate that the main contribution to the increase in annual revenue was made by digital clusters, mobile business, and promotion of digital products in the B2B and B2G segments. In 2024, Rostelecom’s revenue from mobile communications increased by 12.5%, from digital services – 16.4%, from video services – by 13.7%. The broadband Internet access segment showed growth of 6.3%.
According to the results of the fourth quarter of the 2024 calendar year, Rostelecom’s net profit increased by 152% year-on-year to 4.7 billion rubles. Over the same period, the company’s revenue increased by 12% to 233.9 billion rubles, and OIBDA (operating income before depreciation and amortization of fixed assets and intangible assets) by 8% to 80.2 billion rubles.
Rostelecom President Mikhail Oseevsky noted that the company “on the whole successfully” completed 2024. He named mobile communication services and digital innovative products as the main growth drivers.