IDGC Siberia Q2 2026: Revenue Growth Decelerates but EBITDA Surges

IDGC Siberia reported Q2 2026 revenue of RUB 32,898m, up 20.7% YoY, and EBITDA of RUB 4,303m, up 116.7% YoY. Revenue growth decelerated sharply from the 56.9% YoY seen in Q1 2026, while EBITDA growth accelerated from -5.9% YoY in Q1 2026.

Q2 2026 YoY Growth

Margin Expansion Drives EBITDA

EBITDA growth far outpaced revenue growth, implying a significant margin expansion. In Q2 2026, EBITDA margin was approximately 13.1% (EBITDA/revenue), up from 7.3% in Q2 2025. This suggests improved cost control or favorable tariff adjustments, though the company did not provide segment-level detail.

Key Figures (RUB m)

Outlook

The deceleration in revenue growth from Q1 to Q2 may reflect seasonal patterns or a normalization after an exceptionally strong Q1. However, the sharp EBITDA improvement suggests operational leverage is working in the company's favor. Investors should watch whether revenue growth stabilizes in H2 2026 and whether EBITDA margins can be sustained at these levels.