Kazakhtelecom announces H1 2022 operating results

19.08.22 16:27
/KASE, August 19, 2022/ – Kazakhtelecom JSC (Nur-Sultan), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated August 19, 2022: quote The country's largest telecom operator has published its consolidated financial statements for the first half of 2022, according to which Kazakhtelecom Group of Companies maintains stable growth. According to the published consolidated financial statements, total revenue of Kazakhtelecom Group of Companies increased by 7% compared to the same period last year (KZT 283 billion) and exceeded KZT 301 billion. At the same time, the increase in expenses aimed at improving financial wellbeing of the company's employees (production personnel), as well as at supporting subscribers in the first quarter of this year, led to decrease of the group’s net profit down to KZT 50.5 billion which is also a fairly high result in the current circumstances. "The company took on a significant social burden when, after the January events in the country, it provided discounts on its services rendered in January both to corporate and individual subscribers, canceled penalty for overdue payments in this period, introduced 1000 minutes of unlimited long-distance voice due to internet outages in January, - reminded Chief Financial Officer of Kazakhtelecom JSC Lyudmila Atamuratova. "This assistance package provided to the whole of Kazakhstan required significant funds, but we see this support of our fellow citizens to be the right step.", - she emphasized. Despite the company's first half of 2022 net profit decrease, compared to the first half of last year, EBITDA (earnings before interest, taxes, depreciation and amortisation) amount decreased by 1% only, amounting to KZT 139 billion. At the same time, Kazakhtelecom and its subsidiaries did not give up on the implementation of major projects of high social significance for the whole country. In particular, this year the company plans to completely replace outdated copper networks with fiber-optic cable in the single-industry town of Kurchatov, Abai oblast, providing all subscribers in this city with access to highspeed Internet. If this pilot project is successfully implemented, the possibility of extending this experience to all cities of the country will be considered, with the reconstruction of almost 54 thousand km of copper lines. This project has already made it possible to transfer almost 40 thousand Kazakhtelecom customers to fiber-optic lines, and the company expects to transfer to optical technologies more than 60 thousand users by the end of 2023. unquote The complete press release is available on KASE website: - https://kase.kz/files/emitters/KZTK/kztk_relizs_190822.pdf – in Russian; - https://kase.kz/files/emitters/KZTK/kztk_info_190822_en.pdf – in English. [2022-08-19]