Kazakhtelecom announces H1 2023 operating update

04.09.23 17:22
/KASE, September 4, 2023/ – Kazakhtelecom JSC (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated September 4, 2023: quote The country's largest telecom operator has disclosed financial statements for the first half of 2023. According to the statements, the Kazakhtelecom Group of companies has demonstrated growth of almost all major financial and economic indicators for 6 months. This indicates the correctness of the chosen development strategy and creates basis for implementation of the planned portfolio of projects, including deployment of 5G network in the country, as well as development and modernization of network infrastructure in cities and villages. In particular, according to the consolidated financial statements, the group's revenue increased by 10% in the first half of 2023 and exceeded KZT 330 billion (KZT301 billion in the first half of 2022). Net profit increased by 16% and amounted to KZT 58.5 billion (KZT 50.5 billion for the same period in 2022). EBITDA (the company's earnings before interest, taxes, depreciation and amortization) amounted to KZT 153 billion and improved by 10% compared to the same period in the previous year, and its profitability in relation to revenue remained at 46%, which exceeds historical values for comparable telecom operators. Revenue growth in the first half of this year compared to the same period last year was achieved both due to revenue growth in the fixed-line segment and in the mobile segment. unquote The complete press release is available on: - https://kase.kz/files/emitters/KZTK/kztk_relizs_040923.pdf – in Russian; - https://kase.kz/files/emitters/KZTK/kztk_reliz_040923_en.pdf – in English. [2023-09-04]