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Rostelecom

December 9, 2002

Rostelecom announced its nine months 2002 IAS results

Rostelecom, largest Russia's fixed-line telecommunications operator, released its operating and financial IAS results (unaudited) for the first nine months and third quarter of 2002

  • During the nine months of 2002 domestic long-distance traffic volume grew by 13.4%, international outgoing — by 11.2% and international incoming — by 7.5% compared to the same period a year ago;
  • Consolidated revenue*was up 3.5% year-on-year in dollar terms, reaching USD 622.8 mn;
  • Net revenue (revenue less payments to operators) for the first nine months of 2002 surged by 10.7% year-on-year to USD 464.2 mn.
  • Consolidated operating profit totaled USD 101.2 mn, increasing almost twofold compared to the first nine months last year;
  • Nine months EBITDA reached USD 268.6 mn, showing a 26.6% increase year-on-year. EBITDA margin was 43.1% versus 35.3% for the same period a year ago.
  • Consolidated net profit was up 3.2% year-on-year, amounting to USD 94.9 mn.

Please note that accompanying consolidated financial statements for the third quarter and nine months ended September 30, 2002 comprise the financial statements of Rostelecom as well as its subsidiaries:

  1. RTC-Leasing
  2. RosTelecomLeasing S.A., Switzerland
  3. RTDC Holdings Inc., USA
  4. CJSC “Russian Industrial Bank”
  5. CJSC “Westelcom”
  6. OJSC “RTComm.RU”

In 2001 Rostelecom did not consolidate in its consolidated financial statements the above mentioned companies except for RTC-Leasing, as they either were purchased or began their activities in 2002. Thus, comparable indicators of the consolidated financial statements for the first nine months and third quarter of 2001 include results of Rostelecom itself and RTC-Leasing only.

In order to present Rostelecom performance net of consolidation effects, Appendix I hereto contains non-consolidated profit and loss statement for the three quarters and nine months of 2002.

All absolute numbers of the profit and loss statement and the balance sheet, included in the text of the press-release as well as Appendix II, are in US dollars (USD). To calculate the dollar amounts of the consolidated financial statements, inflated rubles as reported in the full version of the interim consolidated financial statements attached hereto as Appendix III, were deinflated and translated into USD using average inflation indices and exchange rates (for P&L items) and end-of-the-period indices and exchange rates (for balance sheet items) except for non-monetary items (PP&E and depreciation, long-term investments, inventory, minority interest, deferred taxes, share capital and retained earnings), which were translated into USD using respective historical rates. Amounts included in Appendix I of the non-consolidated quarterly P&L statements were translated into USD using the same principles.

For your convenience we have included indices and exchange rates used for translation of monetary items into USD in each table for the respective period or date.

 

Rostelecom Headquarters
Address: 14, 1st Tverskaya-Yamskaya street, Moscow, 125047, Russia

Phone: +7 (095) 972–82–83
Fax: (095) 787–28–50

 

 

 

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