Mobile TeleSystems PJSC (NYSE:MBT) Q1 2020 Earnings Conference Call - Final Transcript

May 26, 2020 • 11:00 am ET

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Mobile TeleSystems PJSC (NYSE:MBT) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Dear ladies and gentlemen, welcome to the Conference Call of MTS. At our customers' request, this conference will be recorded. As a reminder, all participants will be in a listen-only mode. After the presentation, there will be an opportunity to ask questions

[Operator Instructions]

May I now hand you over to Polina Ugryumova, Director of Investor Relations, who will lead you through this conference. Please go ahead.

Executive
Polina V. Ugryumova

Welcome everybody to today's event to discuss MTS first quarter 2020 financial and operating results. As usual, I must remind everyone that except for historical information, any comments made during this call may constitute forward-looking statements. Important factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements. These, in turn, imply certain risks and more thorough discussion of which are available in our annual report and Form 20-F or the materials we have distributed today.

MTS disavows any obligation to update any previously made forward-looking statements spoken on this conference call or make any adjustments to previously made statements to reflect changes in risks. You can find copies of the presentations and materials used and referenced in this conference call on our investor relations website.

Today's presenters are Alexey Kornya, President and CEO; Slava Nikolaev, First Vice President for Customer Experience and Marketing and Ecosystem Development; Inessa Galaktionova, our First Vice President for Telecommunications; and Andrey Kamensky, Vice President for Finance.

Now, it's my pleasure to introduce Alexey to kick us off.

Executive
Alexey Kornya

Welcome everyone and thank you for joining us. I would like to begin by saying that our thoughts are with all of those affected by the global coronavirus pandemic. This is an unprecedented time that is impacting billions of people around the world, including millions of our customers and thousands of our employees. Connectivity has never been more critical and we are proud to be helping our customers stay in touch with their friends and family as well as colleagues and classmates.

While the agenda for this call is our first quarter results, the focus of much of the discussion today will be understandably the ongoing impact from COVID-19. As the scale of the situation became clear in February, we activated our continuity protocols and established a task force to coordinate our response.

Let me go over a few of the steps we have taken. First and foremost, our highest priority is the health and safety of MTS team. We have now transitioned over 30,000 employees to remote work. At the same time, many of our workers has mission-critical jobs in stores and in the field that cannot be done from home. To help protect them, we have put in place extensive sanitation measures such as temperature screening, face masks and cleaning protocols, in line with local, regional and national guidelines.

Second, we have launched multiple initiatives to help those being impacted. For healthcare workers, we are providing free connectivity for doctors fighting COVID-19 in many Russian regions. For customers, we are providing unrestricted