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3rd Quarter Results

19 Oct 2018 07:00

RNS Number : 5383E
Kcell JSC
19 October 2018
 

 

Kcell JSC

 

Results for January - September 2018

 

Almaty, 19 October 2018 - Kcell Joint Stock Company ("Kcell" or the "Company") (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan, announces its interim results for January - September 2018.

Third quarter

· Net sales increased by 3.8 percent to KZT 38,970 million (37,549). Service revenue decreased to KZT 33,668 million (34,695).

· EBITDA, excluding non-recurring items, was stable at KZT 14,593 million (14,626). EBITDA margin of 37.4 percent (39.0).

· Operating income, excluding non-recurring items, decreased by 11.9 percent to KZT 7,875 million (8,943).

· Net financial items decreased to KZT -2,181 million (-2,267).

· Net income decreased by 22.7 percent to KZT 3,007 million (3,889).

· Free cash flow decreased to KZT 3,762 million (3,986).

· During the quarter, the Company's subscriber base declined to 9,234 thousand (10,062). This was due to higher churn of inactive promo SIM cards as a result of the revised strategic priorities - moving from quantity driven distribution to value driven acquisition.

 

Nine-month period

· Net sales grew by 2.2 percent to KZT 111,659 million (109,262). Service revenue down 2.8 percent to KZT 98,000 million (100,848).

· EBITDA, excluding non-recurring items, decreased by 3.5 percent to KZT 39,974 million (41,427). EBITDA margin of 35.8 percent (37.9).

· Operating income, excluding non-recurring items, down 16.5 percent to KZT 20,354 million (24,376).

· Net financial items decreased to KZT -6,346 million (-6,911).

· Net income increased by 10.3 percent to KZT 9,380 million (8,506).

· Free cash flow decreased to KZT 4,103 million (8,190).

· The number of subscribers decreased by 767 thousand year-on-year (10,001).

 

Financial highlights

 

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

Jul-Sep

2018

Jul-Sep

2017

Chg

(%)

Jan-Sep

2018

Jan-Sep

2017

Chg

(%)

Revenue

38,970

37,549

3.8

111,659

109,262

2.2

of which service revenue

33,668

34,695

-3.0

98,000

100,848

-2.8

EBITDA excl. non-recurring items

14,593

14,626

-0.2

39,974

41,427

-3.5

Margin (%)

37.4

39.0

35.8

37.9

Operating income

6,932

8,943

-22.5

18,346

21,703

-15.5

Operating income excl. non-recurring items

7,875

8,943

-11.9

20,354

24,376

-16.5

Net income attributable to owners of the parent company

3,007

3,889

-22.7

9,380

8,506

10.3

Earnings per share (KZT)

15.0

19.4

-22.7

46.9

42.5

10.3

CAPEX-to-sales (%)

13.5

9.9

11.6

12.4

Free cash flow

3,762

3,986

4,103

8,190

 

In this report, comparative figures are provided in parentheses following the operational and financial results and refer to the same item in the third quarter of 2017 unless otherwise stated.

 

Comments by Mansur Khamidov, CEO

 

"In the third quarter of 2018, our key priority was to shift from 'volume to value', focusing on attracting quality customers while moving away from volume driven distribution. As a result, our registered subscriber base declined to 9.2 million, but the number of revenue generating customers remains stable. In addition, the decline had no impact on our revenue market share.

 

This shift in our strategy will positively impact our subscriber acquisition costs and will, to some extent, enable us to avoid revenue erosion. It is in line with the imposed regulation related to the re-registration of subscribers.

 

Net sales in the third quarter increased by 3.8 percent driven primarily by handset sales, a rise in B2B business solutions sales as well as improved interconnect revenue. B2C service revenues remain under pressure, with slight improvements in September related to continuous tariff portfolio developments.

 

We continue to make progress to roll out our 4G/LTE network and I am pleased to report that the plan for 2018 has been almost fulfilled. We are also adding additional capacity to our 4G/LTE network across several large urban areas.

 

It was my great privilege to participate in Kcell's 20th anniversary celebrations in September this year. We look forward to maintaining our leading market position and providing clear value both to our customers and our shareholders in the years ahead."

 

 

 

Almaty, 19 October 2018

 

 

Conference call

Kcell will host an analyst conference call on 19 October 2018 at 10:00 UK time / 15:00 Almaty/ 12:00 Moscow. The conference will be held in English, audio webcast will be available at https://webcasts.eqs.com/Kcell20181019

 

Dial in details are as follows:

UK Toll Free:

Standard International Dial-in:

Russia Toll Free:

Russia Local Call number:

0800 358 6377

+44 330 336 9105

8 800 500 9283

+7 495 213 1767

USA Toll Free:

800 458 4121

USA Dial-In:

 

Conference ID

+1 929 477 0324

 

4263730

 

A presentation will be available on the Company website shortly before the conference call on www.investors.kcell.kz./en 

 

Enquiries:

 

Kcell

Investor Relations

Irina Shol

Tel: +7 727 2582755 ext. 1002

Investor_relations@kcell.kz

Media

Natalya Eskova

 

Tel: +7 727 2582755 ext. 1902

Pressa@kcell.kz

International Media

Instinctif Partners

Tel: +44 207 457 2020

Kay Larsen / Galyna Kulachek

 

Review of the third quarter of 2018

 

Net Sales

 

Net sales increased by 3.8 percent to KZT 38,970 million (37,549). Service revenue decreased by 3.0 percent to KZT 33,668 million (34,695).

 

Revenue from voice services decreased by 1.3 percent to KZT 20,153 million (20,424). Data revenue increased by 0.6 percent to KZT 11,568 million (11,502). Revenue from value-added services decreased by 21.5 percent to KZT 1,901 million (2,422). Other revenues were up 67.1 percent to KZT 5,348 million (3,201).

 

KZT in millions, except percentages

Jul-Sep

2018

% of total

Jul-Sep

2017

% of total

Voice services

20,153

51.7

20,424

54.4

Data services

11,568

29.7

11,502

30.6

Value added services

1,901

4.9

2,422

6.5

Other revenues

5,348

13.7

3,201

8.5

Total revenues

38,970

100.0

37,549

100.0

 

Voice service revenue

 

Revenue from voice services decreased by 1.3 percent to KZT 20,153 million (20,424). Voice traffic was down to 5,279 million minutes (5,748); ARMU fell to KZT 2.1 (2.2).

 

Interconnect revenue increased by 1.6 percent to KZT 5,482 million (5,395).

 

Data service revenue 

 

Data revenue increased by 0.6 percent to KZT 11,568 million (11,502). Data traffic increased by 28.7 percent to 64,986,542 GB (50,512,804). Average revenue per MB (ARMB) remained stable at KZT 0.2 (0.2).

 

Value-added service revenue

 

Revenue from value-added services decreased by 21.5 percent to KZT 1,901 million (2,422).

 

Other revenues 

Other revenues were up 67.1 percent to KZT 5,348 million (3,201), mainly due to higher handsets sales.

 

 

EXPENSES

 

Cost of sales

 

Cost of sales increased by 13.2 percent to KZT 25,272 million (22,332), primarily due to higher sales of handsets.

 

Selling and marketing expenses

 

Selling and marketing expenses decreased by 5.8 percent to KZT 2,558 million (2,716), primarily due to improved distribution process.

 

General and administrative expenses

 

General and administrative expenses increased by 17.8 percent to KZT 3,949 million (3,354). This was primarily driven by an increase in bad debt expenses, as well as a provision of KZT 807 million related to the tax claim which was partially offset by the reverse of KZT 672 million provision for the copyright claim as the final court decision was ruled in favour of Kcell.

 

 

EARNINGS, FINANCIAL POSITION AND CASH FLOW

 

EBITDA, excluding non-recurring items, remained stable at KZT 14,593 million (14,626) with EBITDA margin of 37.4 percent (39.0).

 

Net financial items declined to KZT -2,181 million (-2,267).

 

Income tax expense decreased to KZT 1,744 million (2,787).

 

Net income attributable to owners of the parent company was down 22.7 percent to KZT 3,007 million (3,889). Earnings per share decreased to KZT 15.0 (19.4).

 

CAPEX increased to KZT 5,274 million (3,707), while CAPEX-to-sales ratio increased to 13.5 percent (9.9).

 

Free cash flow decreased to KZT 3,762 million (3,986).

 

 

Review of the nine-month period of 2018 

 

Net Sales

 

Net sales grew by 2.2 percent to KZT 111,659 million (109,262). Service revenue were down 2.8 percent to KZT 98,000 million (100,848).

 

Revenue from voice services decreased by 3.7 percent to KZT 57,932 million (60,137). Data revenue was 1.2 percent higher at KZT 33,955 million (33,566). Revenue from value-added services decreased by 15.4 percent to KZT 6,031 million (7,130). Other revenues were up 63.0 percent to KZT 13,741 million (8,429).

 

KZT in millions, except percentages

Jan-Sep

2018

% of total

Jan-Sep

2017

% of total

Voice services

57,932

51.9

60,137

55.0

Data services

33,955

30.4

33,566

30.7

Value added services

6,031

5.4

7,130

6.6

Other revenues

13,741

12.3

8,429

7.7

Total revenues

111,659

100.0

109,262

100.0

 

Voice service revenue

 

Revenue from voice services decreased by 3.7 percent to KZT 57,932 million (60,137). Voice traffic was 15,793 million minutes (17,120), while ARMU decreased to KZT 2.1 (2.2).

 

Interconnect revenue increased by 1.7 percent to KZT 16,246 million (15,978).

 

Data service revenue 

 

Data revenue was 1.2 percent higher at KZT 33,955 million (33,566). Data traffic increased by 33.8 percent to 182,835,888 GB (136,640,810). Average revenue per MB (ARMB) remained stable at KZT 0.2 (0.2).

 

Value-added service revenue

 

Revenue from value-added services decreased by 15.4 percent to KZT 6,031 million (7,130).

 

Other revenues 

Other revenues were up 63.0 percent to KZT 13,741 million (8,429), mainly due to an increase in handset sales.

 

EXPENSES

 

Cost of sales

 

Cost of sales increased by 7.4 percent to KZT 72,128 million (67,185), primarily due to higher sales of handsets.

 

Selling and marketing expenses

 

Selling and marketing expenses decreased by 2.8 percent to KZT 7,545 million (7,761).

 

General and administrative expenses

 

General and administrative expenses increased by 8.5 percent to KZT 13,590million (12,521), mainly as a result of higher bad debt expanses.

 

 

EARNINGS, FINANCIAL POSITION AND CASH FLOW

 

EBITDA, excluding non-recurring items, decreased by 3.5 percent to KZT 39,974 million (41,427) with EBITDA margin of 35.8 percent (37.9).

 

Net financial items were at KZT -6,346 million (-6,911).

 

Income tax expense decreased by 58.3 percent to KZT 2,620 million (6,287), largely due to a reversal of the corrective adjustment related to the deferred income tax for the prior year, which, in turn, was offset by current income tax expenses.

 

Net income attributable to owners of the parent company increased by 10.3 percent to KZT 9,380 million (8,506) and earnings per share increased to KZT 46.9 (42.5).

 

CAPEX decreased to KZT 12,944 million (13,599) with CAPEX-to-sales ratio of 11.6 percent (12.4).

 

Free cash flow decreased to KZT 4,103 million (8,190).

 

Net debt/equity ratio was 87.6 percent (76.4).

 

Net debt/EBITDA ratio was 1.21 (1.05).

 

The equity/assets ratio was 42.7 percent (41.8).

 

Key Milestones 2018

 

January

 

· Kcell placed its KZT 4.95 billion bonds on the Kazakhstan Stock Exchange (KASE) at a yield of 11.5 percent. This was the first placement in the programme Kcell announced in December 2017, aimed at expanding and diversifying the Company's funding sources, increasing the average term of Kcell's financial liabilities and decreasing its funding costs.

 

February

  

· Kcell received a unilateral termination notice of a Memorandum of Understanding (MoU) dated 26 August 2012 from Sonera Holding B.V. (Sonera). According to the MoU, Sonera granted Kcell the right to buy all of Sonera's participatory interests in Rodnik Inc LLP, the controlling shareholder of KazTransCom Joint Stock Company (details are available on page 57 "Acquisition and Investments" section of the Kcell Prospectus). As provided by the MoU, such notice terminates the MoU and with it Kcell's obligation to acquire all of Sonera's participatory interests in Rodnik Inc LLP.

 

April

 

· Kcell's Board of Directors recommended an annual dividend for 2017 at the 2016 level, amounting to KZT 11,678 million, or KZT 58.39 per ordinary share. This represents 87 percent of the Company's net income for 2017, in line with Kcell's dividend policy.

 

May

 

· The AGM held on 30 May 2018, approved the proposal of Kcell Board of Directors to distribute KZT 11,678 million, representing 87 percent of the net income for 2017, as an annual dividend. The total dividend amount will equate to a gross figure of KZT 58.39 per ordinary share (each GDR representing one ordinary share). Dividends will be paid electronically directly into shareholders' bank accounts. Kcell shareholders registered at the record date of 31 May 2018 are entitled to receive the dividends. Dividends to be paid in a lump sum, starting from 1 August 2018.

 

· Other decisions adopted by the AGM include the approval of the Company's Separate and Consolidated Financial Statements for the year ended 31 December 2017, the Independent Auditor's Report, and the election of new member of Kcell JSC Board of Directors. Mr. Fredrik Nissen, representative of the shareholder Fintur Holdings B.V., was elected as a member of the Board of Directors of Kcell JSC to replace Mrs. Ingrid Maria Stenmark. Shareholders were also informed on the amount and structure of remuneration for the members of Board of Directors and Executive Body of the Company. In 2017, the Board of Directors received no queries from shareholders regarding the performance of the Company and its executives.

 

June

 

· Board of Directors approved an extension of KZT 10 billion loan under the Master Facility Agreement #82.2090/2016 dated 8 June 2016 between Kcell JSC and Subsidiary Bank Alfa Bank Kazakhstan JSC. Under the new agreement, the facility extended until 8 June 2019. The interest rate for new loans within the facility reduced to 12.0 percent p.a. (from 14.5 percent). The commission fee for the changes made to the terms and conditions is set at 1 percent of the total amount.

 

July

 

· Kcell announced the appointment of Rainer Rathgeber as Chief Executive Officer (subject to receiving relevant regulatory authorization). Mansur Khamidov, VP Fintur Markets at Telia Company, assumes the role of CEO during the transition period.

 

· The Company completed the drawdown of a KZT 10 billion tranche under the Term Loan Facility Agreement dated 24 September 2013 between Kcell JSC and Halyk Bank of Kazakhstan JSC. The term of the loan expires on 16 July 2021 and bears an interest rate of 12.5 percent per annum. Repayment of the main debt in equal installments will start following the grace period (18 months); semi-annual tranches will be made starting from 19 July 2020.

 

· Kcell made the first coupon payment on bonds as of the record date of 15 July 2018, 4,950 thousand bonds with a face value of KZT 1 thousand each were placed with a coupon rate of 11.5 percent. The total amount of coupon payment amounted to KZT 284,625 thousand.

 

August

 

· On 6 August 2018, Kcell won the copyright court case. Further to the announcement on 12 June 2018, the Appellate Judicial Board of Almaty city court has upheld Kcell's appeal about alleged infringement of copyrights. The previous decision of the Court of First Instance regarding KZT 672 million compensation was therefore annulled, and the provisions made for this amount were cancelled.

 

· On 22 August 2018, Kcell announced that 87 percent of the Company's net income for 2017 in the amount of KZT 11,678 million, or KZT 58.39 per ordinary share (each ordinary share representing one GDR) was paid as annual dividend.

 

September

 

· On 27 September 2018, the Company announced the liquidation of its subsidiary AR-Telecom.

 

 

ADMINISTARTIVE, TAX AND LEGAL UPDATE

 

Tax audit

 

In July 2017, the Kazakhstan tax authority completed its complex tax audit for the period 2012-2015. Following the audit, the tax authority made a total claim of KZT 9.0 billion.

 

In January 2018, Kcell disputed the Notification of the tax authority in the First Instance Court and the Kcell appeal was dismissed. In June 2018, the Court of Appeal reviewed the appeal claim and left the unfavorable ruling of the First Instance Court in force. Although the decision is binding, Kcell reserves the right to further appeal it in the Supreme Court.

 

In the fourth quarter of 2016 and in the second quarter of 2017, the Company made tax provisions of KZT 4.0 billion and KZT 2.8 billion, respectively. In the second quarter of 2018, the Company has made another tax provision of KZT 1.4 billion.

 

During the reporting period, the Company made a provision for the remaining KZT 0.8 billion.

 

Copyright claim

 

On 6 August 2018, Kcell announced win of copyright court case. Further to the announcement on 12 June 2018, the Appellate Judicial Board of Almaty city court has upheld Kcell's appeal about alleged infringement of copyrights. The previous decision of the Court of First Instance regarding KZT 672 million compensation was therefore annulled, and the provisions made for this amount were reversed.

 

Administrative update

 

On 27 September 2018, the Company announced the liquidation of its subsidiary AR-Telecom.

 

 

The external auditors are reviewing the January - September 2018 financial statements, and their report will be available on the Kcell website after 15 November 2018.

 

The information was submitted for publication at 09:00 ALMT on 19 October 2018.

 

 Financial Information

Year-end Report January-December 2018 25 January 2019

 

 

 

 

Questions regarding the reports:

Kcell JSC

Investor Relations

Timiryazev str. 2g

050013 Almaty

Tel. +7 727 2582755 ext.1002

Investor_relations@kcell.kz

 

www.investors.kcell.kz

 

 

 Definitions

 

EBITDA: Earnings Before Interest, Tax, Depreciation and Amortization. Equals operating income before depreciation, amortization and impairment losses and before income from associated companies.

 

CAPEX: Capital expenditures and advances paid for property, plant and equipment as well as software and licenses including investments in tangible and intangible non-current assets, but excluding goodwill and fair value adjustments recognized in acquisitions, and excluding the recording of assets retirement obligations.

 

ARMB: Average revenue per MB.

 

 

Condensed Consolidated Statements of Comprehensive Income

 

KZT in millions, except per share data, number of shares and changes

Jul-Sep

2018

Jul-Sep

2017

Chg

(%)

Jan-Sep

2018

Jan-Sep

2017

Chg

(%)

Revenues

38,970

37,549

3.8

111,659

109,262

2.2

Cost of sales

-25,272

-22,332

13.2

-72,128

-67,185

7.4

Gross profit

13,698

15,217

-10.0

39,531

42,077

-6.1

Selling and marketing expenses

-2,558

-2,716

-5.8

-7,545

-7,761

-2.8

General and administrative expenses

-3,949

-3,354

17.8

-13,590

-12,521

8.5

Other operating income and expenses, net

-259

-206

26.1

-49

-93

-46.9

Operating income

6,932

8,943

-22.5

18,346

21,703

-15.5

Finance costs and other financial items, net

-2,181

-2,267

-3.8

-6,346

-6,911

-8.2

Income after financial items

4,751

6,676

-28.8

12,000

14,792

-18.9

Income taxes

-1,744

-2,787

-37.4

-2,620

-6,287

-58.3

Net income

3,007

3,889

-22.7

9,380

8,506

10.3

Other comprehensive income

Total comprehensive income

Total comprehensive income attributable to owners of the parent

3,007

3,889

-22.7

9,380

8,506

10.3

Earnings per share (KZT), basic and diluted

15.0

19.4

-22.7

46.9

42.5

10.3

Number of shares (thousands):

Outstanding at period-end

200,000

200,000

200,000

200,000

Weighted average, basic and diluted

200,000

200,000

200,000

200,000

EBITDA

13,650

14,626

-6.7

37,966

38,754

-2.0

EBITDA excl. non-recurring items

14,593

14,626

-0.2

39,974

41,427

-3.5

Depreciation, amortization and impairment losses

-6,718

-5,684

18.2

-19,620

-17,051

15.1

Operating income excl. non-recurring items

7,875

8,943

-11.9

20,354

24,376

-16.5

 

 

Condensed Consolidated Statements of Financial Position

 

KZT in millions

30 Sep 2018

31 Dec 2017

Assets

Intangible assets

41,208

 43,061

Property, plant and equipment

88,840

 93,680

Other non-current assets

404

260

Long term receivables

3,131

 1,617

Total non-current assets

133,583

138,618

Inventories

3,831

 3,425

Trade and other receivables

24,495

26,191

Cash and cash equivalents

9,975

12,660

Total current assets

38,301

42,276

Total assets

171,884

  180,894

Equity and liabilities

Share capital

33,800

33,800

Retained earnings

39,534

41,832

Total equity attributable to owners of the parent company

73,334

75,632

Long term borrowings

42,933

12,000

Deferred tax liabilities

1,906

4,667

Other long-term liabilities

1,362

1,355

Total non-current liabilities

46,201

18,022

Short-term borrowings

32,326

58,418

Trade payables and other current liabilities

20,023

28,822

Total current liabilities

52,349

87,240

Total equity and liabilities

171,884

180,894

 

 

Condensed Consolidated Statements of Cash Flows

 

KZT in millions

Jul-Sep

2018

Jul-Sep

2017

Jan-Sep

2018

Jan-Sep

2017

Cash flow before change in working capital

16,737

14,067

39,143

36,631

Change in working capital

-7,522

-5,299

-19,420

-12,023

Cash flow from operating activities

9,215

8,768

19,723

24,608

Cash CAPEX

-5,453

-4,782

-15,620

-16,418

Free cash flow

3,762

3,986

4,103

8,190

Cash flow from financing activities

-1,678

-4,000

-6,888

-2,678

Cash flow for the period

2,084

-14

-2,785

5,512

Cash and cash equivalents, opening balance

7,850

13,848

12,660

8,477

Cash flow for the period

2,084

-14

-2,785

5,512

Exchange rate difference

41

239

100

84

Cash and cash equivalents, closing balance

9,975

14,073

9,975

14,073

 

 

Condensed Consolidated Statements of Changes in Equity

 

Jan-Sep 2018

Jan-Sep 2017

KZT in millions

Share

capital

Retained earnings

Total equity

Share capital

Retained earnings

Total

equity

Opening balance

33,800

41,832

75,632

33,800

39,724

73,524

Dividends

-

-11,678

-11,678

-

-11,678

-11,678

Total comprehensive income

-

9,380

9,380

-

8,505

8,505

Closing balance

33,800

39,534

73,334

33,800

36,551

70,351

 

Basis of preparation

 

Following the introduction of IFRS 15 for the purposes of the consolidated financial statements for the period ended 30 September 2018, the Company has reviewed the recognition of revenues and has changed its accounting policy. The Company applied IFRS 15 retrospectively using the practical expedient of the standard, under which the date of initial recognition is 1 January 2017. The following report presented with revised figures. All amounts in this report are presented in KZT millions, unless otherwise stated. Rounding differences may occur.

Non-recurring items

 

KZT in millions

Jul-Sep

2018

Jul-Sep

2017

Jan-Sep

2018

Jan-Sep

2017

Within EBITDA

Restructuring charges, synergy implementation costs, etc.

943

-

2,008

2,673

Total

943

-

2,008

2,673

 

Investments

 

KZT in millions

Jul-Sep

2018

Jul-Sep

2017

Jan-Sep

2018

Jan-Sep

2017

CAPEX

Intangible assets

1,836

643

3,089

2,818

Property, plant and equipment

3,438

3,064

9,855

10,781

Total

5,274

3,707

12,944

13,599

 

Related party transactions

 

For the nine months ended 30 September 2018, Kcell purchased services for KZT 1,672 million and sold services for a value of KZT 378 million. Related parties in these transactions were mainly Telia Company and its group entities, Turkcell, Fintur Holding B.V. and KazTransCom.

 

Net debt

 

KZT in millions

30 Sep

2018

31 Dec

2017

Long-term and short-term borrowings

75,259

70,418

Less short-term investments, cash and bank

-9,975

-12,660

Net debt

65,284

57,758

 

Financial key ratios

 

30 Sep

2018

31 Dec

2017

Return on equity (%, rolling 12 months)

19.5

18.2

Return on capital employed (%, rolling 12 months)

16.3

23.9

Equity/assets ratio (%)

42.7

41.8

Net debt/equity ratio (%)

87.6

76.4

Net debt/EBITDA rate (multiple, rolling 12 months)

1.21

1.05

Owners' equity per share (KZT)

366.7

378.2

 

Operational data

Jul-Sep

2018

Jul-Sep

2017

Chg

(%)

Jan-Sep 2018

Jan-Sep

2017

Chg

(%)

Subscribers, period-end (thousands)

9,234

10,001

-7.7

9,234

10,001

-7.7

Of which prepaid

8,335

9,078

-8.2

8,335

9,078

-8.2

MOU (min/month)

223

229

-2.6

215

227

-5.3

ARPU (KZT)

1,189

1,176

1.1

1,120

1,139

-1.7

Churn rate (%)

80.7

62.6

56.0

50.3

Employees, period-end

1,834

1,841

-0.4

1,834

1,841

-0.4

 

 

Forward-looking statements

 

This report contains statements concerning, among other things, Kcell's financial condition and results of operations that are forward-looking in nature. Such statements are not historical facts but, rather, represent Kcell's future expectations. Kcell believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions; however, forward-looking statements involve inherent risks and uncertainties, and a number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. Such important factors include, but may not be limited to: Kcell's market position; growth in the telecommunications industry; and the effects of competition and other economic, business, competitive and/or regulatory factors affecting the business of Kcell and the telecommunications industry in general. Forward-looking statements speak only as of the date they were made, and, other than as required by applicable law, Kcell undertakes no obligation to update any of them in light of new information or future events.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
QRTGGGQAUUPRGMR
Date   Source Headline
3rd Jun 202111:00 amRNSCredit line increase with Bank of China Kazakhstan
3rd Jun 202110:30 amRNSKcell JSC pays the annual dividend for 2020
26th May 20219:00 amRNSKcell JSC agrees reduced interest rate
25th May 202111:00 amRNSResult of AGM
20th May 202110:00 amRNSKcell increases the amount of its credit line
18th May 202111:00 amRNSAnnual Report 2020
14th May 20214:41 pmRNSSecond Price Monitoring Extn
14th May 20214:36 pmRNSPrice Monitoring Extension
13th May 20218:30 amRNSAnnouncement regarding the proposed delisting
30th Apr 20217:00 amRNS1st Quarter Results
14th Apr 20218:00 amRNSKcell JSC signs an agreement with Nexign JSC
14th Apr 20217:00 amRNSAnnouncement re termination of GDR programme
13th Apr 202111:00 amRNSNotice of AGM
12th Apr 20211:15 pmRNSProposed dividend for the FY 2020
12th Apr 202111:46 amRNSChanges to composition of executive body
12th Apr 202110:08 amRNSResult of EGM
1st Apr 202111:30 amRNSKcell increases the amount of its credit line
3rd Mar 202111:26 amRNSAnnual Financial Report
1st Mar 202110:05 amRNSResult of EGM
25th Feb 202110:55 amRNSNotice of EGM and Publication of Circular
24th Feb 20217:15 amRNSRe BoD decision to convene EGM and to delist GDRs
8th Feb 202112:37 pmRNSUpdated Agenda of EGM of Shareholders
8th Feb 202110:09 amRNSAppointment of Chief Executive
8th Feb 20217:00 amRNSFinal Results
26th Jan 202111:00 amRNSKcell JSC announces principal and coupon payment
25th Jan 202110:09 amRNSNotice of results
5th Jan 202111:08 amRNSLower interest rate with Subsidiary Bank Alfa Bank
30th Dec 20209:30 amRNSNotice of EGM
21st Dec 202010:30 amRNSChanges to composition of executive body
10th Dec 202010:00 amRNSIncreased amount of credit line with Bank of China
23rd Nov 20204:40 pmRNSSecond Price Monitoring Extn
23rd Nov 20204:36 pmRNSPrice Monitoring Extension
13th Nov 20207:00 amRNS3rd Quarter Results
21st Oct 202011:00 amRNSNotice of Results
19th Oct 202012:20 pmRNSReduced interest rate on existing credit line
19th Oct 202012:15 pmRNSCredit agreement with Subsidiary JSC VTB Bank Kaz
14th Oct 20204:40 pmRNSSecond Price Monitoring Extn
14th Oct 20204:35 pmRNSPrice Monitoring Extension
29th Sep 202012:30 pmRNSReduced interest rate on existing credit line
11th Aug 202011:00 amRNSChanges to composition of executive body
30th Jul 20207:00 amRNSHalf-year Report
24th Jul 202010:15 amRNSKcell JSC announces coupon payment to bondholders
24th Jul 202010:00 amRNSReduced interest rate on existing credit line
23rd Jul 202010:00 amRNSNotice of Results
25th Jun 202011:00 amRNSFitch Upgrades Kcell to 'BB+', Outlook Stable
16th Jun 202011:00 amRNSChanges to composition of executive body
5th Jun 202010:00 amRNSKcell JSC pays the annual dividend for 2019
1st Jun 202010:00 amRNSResult of AGM
27th May 202012:07 pmRNSSecond Price Monitoring Extn
27th May 202012:02 pmRNSPrice Monitoring Extension

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