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Dalsvyaz

May 25, 2004

FETEC (Dalsvyaz) sums up business totals for the first quarter of 2004

According to the results of the first quarter of 2004 proceeds of OJSC FETEC (Dalsvyaz) increased by 37% as compared that of the first quarter of 2003 and made up 2 030 million rubles (1 482 million rubles).

Communication sales profit grew by 37,1% up to 1997,7 million rubles (1 457 million rubles for the first quarter of 2003). Total capital investments made up 151,1 million rubles and introduction of capital investments made up 108,5 million rubles.

FETEC (Dalsvyaz) introduced ATX with total number capacity of 11,7 thousand numbers for the first quarter of current year. Company network digitalization level grew by 0,8 points and as of the end of the first quarter of 2004 exceeded 49% including 54,9% for urban telephone exchange. Growth of main telephone sets made up 17,5 thousand pieces (47% growth as compared to that of the 1st quarter of 2003). As of April 1st , 2004 1147,7 thousand main telephone sets are served by FETEC (Dalsvyaz) including 990,5 thousand ones by urban telephone exchange and 157,2 thousand ones by village telephone exchange.

Average payroll of company’s staff did not change as compared to that of the 1st quarter of 2003 and made up 18 250 employees. Index of number of lines per 1 employee grew by 5,8% and constituted 64 lines per one person (60 lines per one person in the 1st quarter of 2003).

Long-distance and international communication traffic for the 1st quarter of 2004 made up 158 million minutes (22% growth as compared to that of the 1st quarter of 2003) including 148,7 million minutes of long-distance communication traffic (22,1% growth as compared to that of the 1st quarter of 2003) and 9,3 million minutes of international communication traffic 21,3% growth as compared to that of the 1st quarter of 2003).

Sales cost made up 1757 million rubles and growth made up 42,9% (1229,1 million rubles in the 1st quarter of 2003). Wage costs made up 35% (37,3% for the 1st quarter of 2003). OJSC Rostelecom payments constituted 17% (14,3% for the first quarter of 2003). Taxes and fringe benefit expenses made up 12% (12,9% for the 1st quarter of 2003). Capital assets’ depreciation was 9% (6% for the 1st quarter of 2003). Material costs were 8% (10,5% for the 1st quarter of 2003) and other operation costs were 19% (19% for the 1st quarter).

EBITDA index increased by 30,5% and reached 295,8 million rubles and operating profit made up 273 million rubles (+ 8%). EBITDA to proceeds ratio was 14,6%. Pretax profit made up 97,7 million rubles and net profit made up 37,9 million rubles.

In the 1st quarter of 2004 spending growth rate outran sales growth rate due to increase of depreciation charges and change of system of mutual settlements with OJSC Rostelecom.

 

 

 

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