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FG Finam analyst Leonid Delitsyn explained the reasons for MegaFon's revenue growth: "The main growth factor is the increase in service revenue, since its share in total revenue is 86%. Here, the growth driver was Internet traffic (+12%) and wired communications (+8%). The latter is not surprising, since users need more bandwidth, and until the introduction of the next generation of mobile communication standards, only wires can provide a wide channel. Also, sales of subscriber equipment grew faster than total revenue (+29.9%)."

administrative expenses nigeria whatsapp resourceincreased. MegaFon does not disclose the structure of expense items, but the press release noted that operating costs increased mainly due to the cancellation of benefits for the fee for using the LTE frequency spectrum from January 1, 2024. The increase in expenses offset part of the growth in revenue, but operating profit was approximately RUB 4 billion higher than the figure for the comparable period in 2023. Another significant negative factor was the increase in financial expenses amid rising interest rates in the economy. The increase in financial expenses completely negated the effect of the increase in operating profit. It is also worth considering that a year earlier the company recorded a profit from the difference in exchange rates and profit from financial instruments, which made the comparison base higher," shared his opinion Artem Mikhailin, an analyst at the investment company Veles Capital.

According to the financial report for the first half of 2024, MegaFon acquired the Yota trademark in December 2022 for RUB 27 billion. At the beginning of 2023, after the rights to the trademark were transferred to the MegaFon group, the costs of its use were reclassified from non-current non-financial assets to capital expenditures. In this regard, MegaFon's CAPEX in the first half of 2023 increased by 99.4% compared to the same period in 2022 - from RUB 35.6 billion to RUB 71 billion. CAPEX also included investments in the development of assets acquired at the end of 2022. Based on the results of the first half of 2024, MegaFon's CAPEX decreased to RUB 26 billion, which is below the level of the first half of 2022.

Freedom Finance Global analyst Vladimir Chernov gave a forecast of MegaFon's financial results for the whole of 2024: "By the end of 2024, we expect MegaFon's revenue to be around 450 billion rubles, and net profit in the range of 28-30 billion rubles. We also forecast an increase in OIBDA profitability of over 45%."