Rostelecom is a huge aircraft carrier. Description of the industry and competitive analysis Why Rostelecom customers are dissatisfied

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Mikhail Oseevsky - about the first results of work at the head of the company, the development of the industry and cryptocurrency mining

Rostelecom President Mikhail Oseevsky, who headed the company in March 2017, in an interview with RBC spoke about the operator’s role in the Digital Economy, the future of e-sports, and why increasing the share in Tele2 is not a priority

Mikhail Oseevsky (Photo: Arseny Neskhodimov for RBC)

In early March, it prematurely terminated the powers of Sergei Kalugin, who had headed Rostelecom since 2013, and appointed VTB top manager Mikhail Oseevsky to the position of president. Analysts said the change of head of the company was unexpected - there were no obvious complaints about Kalugin. According to two RBC sources in the market, Oseevsky’s candidacy for the post of head of Rostelecom was lobbied by the VTB group, which intended to sell to the state operator its share in their joint venture - T2 RTK Holding (provides services mobile communications under the Tele2 brand). Sergei Kalugin, in turn, opposed such a deal.

The top manager spoke about who invited Mikhail Oseevsky to the post of head of Rostelecom, the vision for the development of Tele2 and the new strategy of the state operator in an interview with RBC.

“I knew it was a very large company.”

— When and from whom did you receive an invitation to head Rostelecom?

— The final decision on the appointment of the head of Rostelecom is made by the chairman of the government by signing the directive. In fact, the proposal came from him in the winter of 2017, a few weeks before his appointment.

- How did you perceive it? What introductory information were you given about Rostelecom? How did they match what you subsequently saw in the company?

— At that time, work was already underway on the creation of the Digital Economy program. It became obvious that Rostelecom would play a key role in its implementation. I assume that the government’s decision was made with this in mind.

While working at VTB, I formed an idea about Rostelecom, since it was a client of the bank. First of all, about financial indicators: I knew that this was a very large company, with large revenues, high margins, profitable, securities which are traded both in Russia and abroad.

— What have you managed to accomplish in six months as president?

— Like anyone who comes to the management of a company, I focused on setting up the team’s work and immersing myself in key business processes. A new board has been formed to play a more active role in the governance structure. I think that the company performed well in the second quarter - revenue increased noticeably, profits almost doubled, and good margins were ensured (above 32% in OIBDA). The company is growing in almost all major business segments. We pay a lot of attention to optimizing the management model and strengthening management not only at the level of the corporate center, but also at branches. All this is a basic platform for further movement forward.

— These actions are a continuation of the policy and strategy of the previous team or a givenalready by youvector of development?

— A company like Rostelecom is a huge aircraft carrier. He cannot turn sharply either to the right or to the left - he can turn over and drown. The strategy, which was adopted at the end of 2013, envisaged an increase in the share of modern digital products, it is absolutely correct, we are moving in this direction, and even at a faster pace than expected. But over the past years, a lot has happened - external conditions have changed, new digital services and technologies have emerged and become stronger. Therefore, today we are actively working to develop a new five-year strategy, including taking into account the approved federal program for the digital economy.

What does Rostelecom do?

Public Joint-Stock Company intercity and international electrical communications Rostelecom was registered on September 23, 1993 (then in the form of an OJSC). The company provides local telephony services, broadband Internet access and cloud data storage, pay television, and services based on its own backbone communication network. Owns data processing centers (DPCs), is the operator of the gosuslugi.ru portal, and a contractor for elimination programs " digital divide", Internet connections medical institutions and others government projects. Rostelecom owns 45% of T2 RTK Holding (the remaining 55% belongs to a consortium of investors consisting of VTB Group, Invintel B.V. Alexey Mordashov and Rossiya Bank Yuri Kovalchuk).

Rostelecom's revenue in the second quarter was 75.2 billion rubles, net profit was 2.8 billion rubles. As of December 31, 2016, the largest shareholders of the company were the state represented by the Federal Property Management Agency (owned 48.71% ordinary shares), Rostelecom's subsidiary Mobitel (15.06%) and Vnesheconombank (4.29%). Rostelecom shares are traded on the Moscow Stock Exchange, ADRs are traded on trading platform OTCQX over-the-counter trading systems OTC Markets Group, not listed on the London, Frankfurt and other foreign stock exchanges.

“We need to remove the prefix “long-distance and international electrical communications” from our name.

— When you plan to adopt a new strategy, what should it contain?

— We are focusing on the end of this year.​ The strategy will have a clear basis financial model with our forecast results. This is very important for a public company like Rostelecom. In general, the main vector remains the same - the evolutionary development of Rostelecom into a provider of digital services. We believe that it is necessary to transform into a company that will provide smart digital services for end clients - people, companies and the state.

I think we need to take a symbolic step: remove the postscript “intercity and international electrical communications” from our name. The company has long outgrown this definition. IN last years Rostelecom was actively growing in such segments as broadband Internet access, pay television, data centers and clouds ( cloud services. — RBC). These segments help to successfully compensate for the decline in telephony revenue. Compared to 2012, last year revenue from services telephone communication decreased by a third, its contribution to total revenue is already less than 30%. At the same time, the reduction total revenue no - thanks to the digital segment, which provided 47% of revenue in the second quarter of 2017. Year on year, digital revenues grew by more than 10%.​​

What is important to keep in mind: as a result, part of what we do today, Internet access, for example, will become an impersonal housing and communal service - like water or energy supply. Only, unlike water and electricity, our traffic is unlimited - it is not paid according to the meter. We want to be a company that sells as many end products as possible - high-margin services. Not the method of delivering the service or, say, not only the method of delivering it, but also the product itself - for example, television and video content. Rostelecom is developing the most advanced pay TV technology - IPTV (controlling, by the way, 74% of the market), which uses a broadband access network to deliver TV and video content. Another promising area is “smart home” for household management and security, and other intelligent services for home and family.

If we talk about the B2B/B2G segment, here we see prospects in the “everything you need as a service” model. When we offer a client comprehensive solution its turnkey communication and IT tasks, including ultra-high-speed communication channels, equipment and IT infrastructure, data centers and cloud software, cyber protection, technical support for all of this. Thus, the client is freed from non-core tasks and can concentrate on his business.

Photo: Sergey Karpukhin / Reuters

​— Will the indicators provided for by the previous strategy (designed for the period from 2015 to 2020) be achieved? For example, by 2020 the company was supposed to occupy 50% of the broadband access (broadband) market in Russia.

— We see that Internet penetration in the country is already at a high level, sales of this product are clearly slowing down. Nevertheless, Rostelecom is growing faster than the market; more than half of new broadband subscribers choose our company. There are still many different players on the market, and consolidation is underway. I think we will not give up this goal. We’ll see in what horizon we will reach it. We see certain prospects for M&A transactions (mergers and acquisitions). — RBC), we are constantly looking at different companies.

“Rostelecom does not need to gain control in Tele2 in order to realize synergies”

— RBC sources said that you were invited to Rostelecom to increase the stake in T2 RTK Holding. At your first press conference, you said that Rostelecom was analyzing the feasibility of increasing its share, but was not considering a full buyout. The last one is that the companies are focused on finding synergies in joint business development. There is no deal and there won't be?

— Increasing the share is not currently our priority. My Tele2 partners and I are focused on improving operational and financial results. As we see today, we manage to organize interaction in such a way that there are results. When I said that we were analyzing the need to gain control at Tele2, I had in mind the question: will this help achieve the desired indicators in terms of efficiency? Today the management of Rostelecom and Tele2 works closely and harmoniously. Tele2 has completely switched to using Rostelecom communication channels, we are discussing the possibility Maintenance Tele2 infrastructure by our specialists. This will allow the two companies to reduce costs and become more efficient.

Rostelecom successfully launched as a virtual mobile operator on the Tele2 network: 500 thousand subscribers in eight months of operation - good result. Coming soon in retail network Tele2 will begin selling Rostelecom service packages. We continue to move towards providing 4Play services (mobile communication services, fixed telephony, Internet access and pay television in a single package. - RBC). We will start sales in a limited number of regions to test. The global vector of development of companies is the provision of comprehensive turnkey services to the client. It should not matter in what way (wired or wireless) the client receives what he needs - communication, information and emotions.

In the first half of 2018, Tele2 headquarters will move to the Comcity office center in Rumyantsevo, where Rostelecom divisions and our subsidiaries already operate. This is also important and necessary for the formation of common teams. We pay a lot of attention to marketing and the formation of product lines. In particular, Rostelecom has a strong position in the TV and video content consolidation market, and we want to use this potential in providing services to Tele2 customers. We are discussing a number of other joint products.

Today, Rostelecom does not need to gain control in Tele2 in order to realize synergy. We see that Tele2, as a company owned by different shareholders, is developing successfully. In general, I can say that Tele2’s results for the first half of 2017 are very good.

Photo: Casper Hedberg/Bloomberg

“But because they do not open up, there is a suspicion that something is wrong with them.”

— It was decided not to disclose [indicators] for a number of reasons. But take my word for it that operating rooms and financial results noticeably better than even what we expected.

— Did I understand correctly that due to the fact that Tele2 has improved its financial results, the issue of reducing the share of individual shareholders of the company has ceased to be relevant?

— You need to ask other shareholders about this.

- But you must know their position...

— Today, all major shareholders of Tele2 are aimed at increasing the company’s efficiency. We, VTB, and Rossiya Bank are actively working together on the board of directors on how to help the development of Tele2. There is no need to fuss, we are big, serious players who make key decisions based on strategic interests, and not on the current situation.

— When will Tele2 be able to recoup its investments in network construction in Moscow? Many analysts doubted that entering the capital market in the fall of 2015 was a wise step for the company - due to high competition in Moscow and the high costs of such expansion.

— It is incorrect to count separately. Any company, including Rostelecom, operates with different margins and profitability in different markets and in different regions. It depends on the infrastructure, the moment of entry, and competition. It is impossible not to be in Moscow. This is the country's key market. If a company does not operate in Moscow, consider it on the global Russian market does not exist.

— Due to the fact that Rostelecom intends to focus on the end client, will a 45 percent stake in Tele2 be enough for the company? Tele2 has a large subscriber base...

— The future business model is partnership. We do not plan to produce alone all the products that we intend to offer to customers. The idea that only by gaining control can you achieve results seems to me to be outdated.

"None of the operators cellular communications alone will not be able to create a 5G infrastructure"

- You said, that new strategy Rostelecom will have a connection with the Digital Economy state program, which the government launched in July. How will this be expressed?

— First of all, this is the development of infrastructure. The creation of fifth generation networks (5G) is very important. This is a separate large area that will be reflected in our strategy. We believe that Rostelecom can serve as an infrastructure operator and partner for the entire industry. None of the cellular operators alone will be able to create a 5G infrastructure - it is very expensive.

— It's about about transport communication networks?

— Not only, we are talking about the entire access infrastructure: both communication channels and base stations, which will need to be installed tens of times more than in networks of previous generations. We believe that the most effective solution is to create general company using optical networks(fiber-optic communication lines. - RBC) Rostelecom.

— Have you already discussed this idea with someone other than Tele2?

— We are not only starting to service communication channels and equipment of Tele2, but also other operators, including the Big Three. As an outsourcing or infrastructure company, we are consistently gaining capacity and believe that this is a good basis to gradually move towards deeper cooperation, towards the creation of a common infrastructure.

— Do regulators and the government agree to the creation of such a single company?

“The matter has not yet come to concrete proposals and decisions. But it is very important that there is a dialogue between market participants, everyone understands the current problems.

Photo: Andrey Rudakov / Bloomberg

— In addition to infrastructure, what do you plan to do under the Digital Economy program?

— We will participate in the development of plans and policies in all five areas of the program - regulation, personnel, infrastructure, research platforms and end-to-end technologies, cybersecurity. For example, Rostelecom has created a special Center for Cyber ​​Security and Protection, which is deservedly considered one of the strongest in the country.

We consider the creation of applied digital platforms for various sectors of the economy to be very promising. Digital technology platforms are created in the interests of individual industries, because each of them has its own specifics. This is intelligent software that accumulates a huge array of industry data and provides convenient tools for processing it. The platform helps to extract and process “raw” information into a system of industry knowledge. Today, even a simple field can and should become a source of digital data. You can install sensors on the field that automatically collect information about humidity and precipitation, temperature, sunny days, and soil. This data flows into the industry platform, is systematized, applications begin to process it, machine intelligence is connected - as a result, recommendations are issued for watering, fertilizing, and the optimal start of planting and harvesting. Everything is automated and objective, influence human factor data collection and analysis is excluded. The result of the platform and applications running on it is a good harvest and an effective business.

​In digital platforms, the competence centers in the program are Rosatom and Rostec, but we work with them in partnership. We have chosen four priority sectors: oil and gas production, energy, mechanical engineering and Agriculture. Each industry has its own specifics; the agro-industrial complex and oil production require different sensors and a special approach to data analysis. The platform approach is also applicable for social services. Recently, we have been paying a lot of attention to developing projects in the field of smart healthcare. Transition to digital medical records and their accumulation in a secure centralized electronic archive medical information opens up great prospects. In the future, analysis of constantly updated information will help predict the need for medicines and medical personnel, and develop preventive plans. Remote access to medical history (with the patient's permission, of course) will make it easier to provide the right care wherever the patient is.

— Recently, everyone has been talking about blockchain technology, about the extraction (mining) of cryptocurrency. Are you considering mining cryptocurrency on your data centers?

- Let's split the question. We believe that blockchain as a system for distributed secure storage of information undoubtedly has a future. Russia must move in this direction. We'll see what the future of cryptocurrency will be like. I am very reserved for now, because this is, in general, a question of faith. Everyone played with candy wrappers when they were kids. Candy wrappers “Bear in the North” or “Red Poppy” had different “values”. More precisely, the children believed that it was a value. It's the same with cryptocurrency. This is a very risky story for now.

— But you could mine cryptocurrency using your infrastructure and exchange it for real money.

“We won’t do this ourselves, but companies have the opportunity to rent power from us in the data center and mine.” If this type of activity does not contradict current legislation- Please.

— As a person new to telecom, was it difficult for you to immerse yourself in technological aspects?

- I was lucky. For the first time in the last 25 years of my life, I started working in a company where the engineering education I received would be useful. For quite a long period (eight years) I studied quantum physics and laser physics: many things from the point of view of information transfer are clear to me. Much is new, of course. Especially in the part that concerns modern Internet and other high technology. But this is also an opportunity to gain new knowledge. I really have discovered a lot of new things for myself over the past six months.

The industry as a whole is changing very quickly in terms of technology and products. But the industry is not growing—the dynamics of income from communication services is around zero. It's not very good. Today Russia is one of the leaders in the availability of telecom services - both mobile communications and home internet. For us and our colleagues in the industry, this is the main challenge (challenge - RBC) - how to move forward in conditions of a rather low ARPU (average bill per subscriber. - RBC). There is only one direction - new products, services and offers. The client is ready to pay for comfort, the convenience of solving everyday problems, on the one hand. On the other hand, he is ready to pay for emotions. For example, for a good movie or series - please, it can be found on our IPTV. For a great online game - please, we are developing special products for gamers. In general, I think that e-sports will actively develop. We follow the development virtual reality and other technologies that may make the delivery of emotions even more vibrant and high-tech in the future.

Photo: Arseny Neskhodimov for RBC

- You have own business?

— I have been keeping all my money on deposit in state banks for a long time. Having gone through a long journey of various experiments, having managed the exchange, I realized what risks exist and how much time needs to be spent on eliminating them. Therefore, it was clearly determined that the hired manager high level there is no need to enter into any conflicts of interest and worry about assessing any risks that are not related to what he is doing.

Six facts about Mikhail Oseevsky

1983 - graduated from the Leningrad Polytechnic Institute named after M.I. Kalinin with a degree in engineering electrophysics.

1986-1993 - worked at the D.V. Efremov Research Institute of Electrophysical Equipment (NIIEFA).

1993-1999 - was deputy manager and then manager of the St. Petersburg Currency Exchange.

2003-2011 - Vice-Governor of St. Petersburg, in 2011-2012 - Deputy Minister of Economic Development of Russia.

From July 2012 to March 2017, he was Deputy President and Chairman of the Board of VTB Bank.

Created on September 23, 1993 on the basis of 20 state-owned enterprises that provided intercity and international communications. Until 2006, it had a monopoly on the provision of long-distance communication services. In 2013, Rostelecom was reorganized by merging Svyazinvest OJSC (formerly the majority shareholder) and 20 other companies. In 2014, Rostelecom and Tele2 created a mobile joint venture

Full title: Public Joint Stock Company "Rostelecom"

Industry: Telecommunications and IT

Management: Oseevsky Mikhail Eduardovich

Story

It was created on September 23, 1993 on the basis of 20 state-owned enterprises that provided long-distance and international communication services. Until 2006, it had a monopoly on the provision of long-distance communication services. In 2013, Rostelecom was reorganized by merging Svyazinvest OJSC (formerly the majority shareholder) and 20 other companies. In 2014, Rostelecom and Tele2 created a mobile joint venture. In 2014, the company for the first time prepared a video surveillance system for operation during the Unified State Exam and founded a joint media enterprise with VGTRK - TsTV JSC. In 2015, Rostelecom approved the terms of the agreement with the Rosenergoatom concern for the construction of Russia's largest data processing center (DPC).

What does he do?

Currently owns telephone network, covering almost the entire territory of the country (500 thousand km of backbone networks). In addition, it has direct access to 190 networks in 70 countries and contracts with 2.3 thousand telephone operators. In total, it serves about 20.5 million local telephone subscribers. It is a leader in the market of broadband access (BBA) to the Internet and pay television in Russia. Its base includes 9.3 million pay TV subscribers and 12.3 million broadband subscribers. Of these, 11.5 million are private users, 0.8 million are corporate clients. It provides free access to 2 thousand sites, including the government services portal. Staff - more than 150 thousand people. In 2013, Rostelecom was reorganized by merging Svyazinvest OJSC (formerly the majority shareholder) and 20 other companies. In 2014, Rostelecom and Tele2 created a mobile joint venture, the combined subscriber base is 38.9 million (more than 10 thousand clients in the B2B sector). In addition, a number of large national projects are being implemented: eliminating the digital divide, creating a national cloud platform, developing a Unified portal of government and municipal services(electronic government), providing video surveillance of the Unified State Exam and elections.

Financial indicators

Owners

Management

Oseevsky Mikhail Eduardovich

Job title:

Key people

Oseevsky Mikhail

Job title: President, Chairman of the Board

Since 1993, he has managed the St. Petersburg Currency Exchange CJSC and the Industrial Construction Bank in various positions. In 2003-2011 - Vice-Governor of St. Petersburg. In 2011-2012 - Deputy Minister of Economic Development of the Russian Federation. From 2012 to 2017 - Deputy Chairman of the Board of VTB. In March 2017, he headed PJSC Rostelecom.

The number of subscribers and Internet users today continues to increase, so the question remains relevant: “Which operator to choose?” One of the players in the telecommunications market and a major employer is OJSC Rostelecom. What is this provider? What are employee reviews of Rostelecom?

About company

The telecommunications services market in our country is steadily developing. OJSC Rostelecom has been an interregional operator since 2006 and operates in several Russian regions. It occupies far from the last positions, but is not one of the “big three” operators. What services does the company provide?

• Local and long-distance telephone communications.
• Interactive television.
• Cellular.

Areas of activity of the company

Rostelecom carries out various tasks related to the creation and development of electronic government, ensures the functioning of elections, etc. It is a leader in the market of telecommunications services provided to Russian government agencies and corporate users. It occupies a leading position in the provision of pay television services (more than 8 million users). The company has the largest backbone network in the Russian Federation, with a total length of 500 thousand km. According to international credit ratings, the company has a stable financial position. Revenue for the 1st quarter of 2015 amounted to more than 70 billion rubles, net profit - more than two billion rubles.

Rostelecom as an employer

The company is a large employer providing official employment, full social package, stable workplace, white wages without delays. Often noted with positive side the team in which they work. Feedback from Rostelecom employees draws attention to the company’s commercial approach to solving many issues. For example, installation is carried out even with poor line parameters. The priority is to capture the market, fulfill and exceed the plan, and not personnel. They mainly recruit salespeople, while laying off other specialists. Work at Rostelecom, about which employee reviews should be studied before the interview, varies depending on the department and region.

Positive staff reviews about the company

Employees note that the company has recently changed for the better, and positive development dynamics are emerging. The few positive reviews from Rostelecom employees reflect the following advantages of the employer:

• the work is stable, simple and clear, well organized;
• opportunity career growth in a prestigious company;
• acceptable working conditions;
• close-knit team and high;
• increase in salaries and funding after a change in leadership in a number of regions.

Negative employee reviews about Rostelecom

According to employees, the company's old qualified specialists were reduced to 90%. Large reductions have meant that new and remaining employees are forced to take on a number of responsibilities of those who were laid off, with wages the same level. Rostelecom employees reacted negatively to the policy pursued by management regarding personnel. Many reviews point out the same shortcomings of this employer.

• Incompetence of the management team.
• Unfavorable socio-psychological climate.
• Bureaucracy and red tape. Software It works very poorly; before you do anything, you need to coordinate your actions with many people. Contracts take a long time to conclude, about a month.
• High staff turnover. Lack of literacy personnel policy. They don’t retain or value good specialists.
• A small one worthy only of top managers.
• Traditional types of communication have collapsed. Outdated equipment, cables, gaskets, etc. Major repairs are not planned. The company is not able to provide quality communications even for its employees.
• Installers buy equipment and pay for gasoline at their own expense.
• They misinform applicants during interviews and clients.

Work at Rostelecom, the feedback from employees about which should make management think about the company's problems, is characterized by a heavy workload and low motivation of the staff. Many were not satisfied with the 35% bonus, depending on the loyalty of senior management, large fines up to 95%. The company's head office does not comment on employees' requests and complaints.

Customer reviews about the Rostelecom provider

It is written about the Rostelecom company great amount reviews, some of them are both positive and negative. Among the advantages of the services provided by the provider, clients highlight:

• favorable conditions and tariff prices;
• stable Wi-Fi;
• In terms of television, archive and clear images are noted.

In general, they predominate negative reviews Rostelecom employees and consumers. The predominance of negative opinions about this provider can be partly explained by the fact that, having not found understanding in the company’s support service, a disappointed client is more willing to express his dissatisfaction. Consumers of Rostelecom services note a number of shortcomings.

• The quality of lines, maintenance and services is low.
• There is no service. Irresponsible attitude towards clients.
• Poor quality support service and technicians.
• They don't handle customer complaints.

Why are Rostelecom customers unhappy?

Many customers note very low Internet speeds, often not at all consistent with those stated in the tariffs, constant crashes, interruptions and Internet outages. The provider Rostelecom, reviews of which are mostly negative, according to many consumers, misinforms customers. Receipts for payment are sent late, and then a penalty is charged. Technical problems often arise with processing consumer payments.

Rostelecom Contact Center, which receives very contradictory reviews from employees and clients, also causes a lot of criticism. Consumers note that it is very difficult to get through to technical support, support workers do not delve into the problem and try to end the conversation quickly, do not answer questions, use the same memorized phrases during negotiations, in addition, they pick up the phone at the workplace so that customers didn't bother me with calls.

Customers in the Moscow region left negative reviews about Rostelecom because the company did not enter into agreements with payment systems and terminals, which led to consumers incurring additional costs and experiencing inconvenience when paying for communication services. Unlike other telecom operators, Rostelecom does not activate home telephony services immediately after the payment has been processed, but only three days later.

Conclusion

A large number of negative reviews about Rostelecom are an alarming signal. Feedback from Rostelecom employees also reflects concerns that the company is falling apart. It is extremely important for a company to take into account the opinions of ordinary employees, since they are the foundation of the organization.

The Russian telecommunications market is developing. In the future, the absorption of regional operators and small providers by larger corporations will continue. Companies that do not meet modern requirements and cannot withstand competition will either rebuild or disappear from the market.

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