📜 Rostelecom Reports Double-Digit Revenue Growth and Strong Surge for Wink

Against a backdrop of macroeconomic challenges, the operator demonstrated steady growth across key metrics, driven by digital segments, expansion of its optical broadband subscriber base, and media segment development.

Sustainable Margins and Profit Growth

For the first half of 2026, Rostelecom’s consolidated revenue rose 11% year-on-year to 435.7 billion rubles (including 226.8 billion rubles in Q2, up 11%). H1 OIBDA grew 11% to 171.4 billion rubles, with the OIBDA margin rising to 39.3% (+0.1 percentage points). In Q2, OIBDA increased 9% to 87.5 billion rubles with a 38.6% margin. The operator’s six-month net profit showed positive momentum, rising 9% to 14 billion rubles (and 6.6 billion rubles in Q2, also up 9%). The company emphasized that net profit growth was driven by reduced financial expenses and optimized debt servicing costs amid the Bank of Russia’s monetary policy easing. First-half capital expenditures decreased 18% to 60.9 billion rubles (14% of revenue). In Q2, CAPEX increased 5% to 32.3 billion rubles. Management reaffirmed its full-year 2026 target for the CAPEX-to-revenue ratio at approximately 20%.

Expansion of Wink and TV Services

The video services segment delivered solid performance:

• Group revenues from video services in H1 2026 increased 9.2% to 30.3 billion rubles (15 billion rubles in Q2, up 6%).
• Standalone revenue for the Wink streaming service grew 13.6% year-on-year in the first six months, reaching 24.5 billion rubles.
• The number of active devices in the OTT segment increased by 28% in H1 2026.
• By the end of the half-year, Wink original series solidified their presence in the media landscape, capturing 5 out of the top 10 positions on the Kinopoisk Pro popularity index.
• Audience scaling: The Wink library and content became available to subscribers of the Smotreshka online cinema (Lifestream LLC, acquired in January 2026). In the B2C segment, IPTV subscribers grew 5% to 8.1 million, with IPTV ARPU reaching 363 rubles (+8%). Traditional cable TV revenues experienced an expected decline (subscriber base fell 3% to 4 million), which was offset by audience migration to digital environments.

Other Key Segments

• Digital Services and Clusters: The share of digital services in total H1 revenue reached 22% (95.9 billion rubles, up 21%). The Data Centers and Cloud Services cluster expanded half-year revenue to 38.2 billion rubles (+9%), while Information Security (Solar Group) reached 9.6 billion rubles (+13%).
• Broadband and Mobile: Mobile revenues grew 9% for the half-year to 152.4 billion rubles. The B2C optical broadband subscriber base grew 8% to 13.1 million households, with ARPU at 452 rubles (+8%).

A comment from Rostelecom President Mikhail Oseevsky underscores the strategic priority for the 2026–2030 cycle: transforming the company into a digital leader. For the 2026–2030 period, the operator expects average annual revenue to exceed 1 trillion rubles and the share of its digital business to expand to 40%.