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Home  Russian Company Guide  CenterTelecom REGISTER LOG IN

CenterTelecom  all about the company

  
Compilation Date: 09 Jul 08

Company Overview Shares Information Stock Market Fixed Income Instruments Key Financial Characteristics Production Overview
General Info
Corporate Management
Price Highlights
Operations Summary
Charter Capital Structure
Major Shareholders
Equity Positions in Other Companies
Dividends History
Instruments on Exchanges
Price Chart
Participation in DR Programs
Weightings in Indices
Issue Parameters
Coupons
Primary Market
 Balance Sheet
P&L Account
Key Ratios
Production
Capacity

Company Overview

General Info  
Full Company NameJSC "Central Telecommunication Company"
Industrial GroupTelecommunications
Number of Employees 52,730
Registration Date 23 Jul 97
Registered Address 23, Proletarskaya St., Khimki, Moscow Region, 141400
Main Office 2, Bld., 6, Degtyarny Per., GSP-3, Moscow, 125993
Telephone / Fax (095) 209-3434, 209-5721, 793-2654 / (095) 209-3007
e-mail info@centertelecom.ru kalin@centertelecom.ru
Internet Home Page www.centertelecom.ru
Registrar JSC "United Registration Company"
Auditor Ernst &Young
Financial Adviser n. a.
Legal Adviser n. a.
Corporate Management
Chairman of the BoardAleksandr Kiselev
General DirectorVaagn Martirosyan
Price Highlights  
Price per Common Share, USD0.628218
YTD Price Change, %-29.35
P/E Ratio8.3243
Market Capitalization, USD 991,331,587
Common Shares in Free Float, % 39.72
Operations Summary  

CenterTelecom (formerly Moscow Regional Elektrosvyaz) serves the central European region of Russia, which is the most densely populated area of the country, holding about 20% of the total population. Although it began its operation as regional postal authority in 1886, the company currently operates as a joint stock company. On December 1, 2002, 16 telecommunications operators of the central European region of Russia were amalgamated into CenterTelecom according to the restructuring program of telecom giant Svyazinvest. After the merger, all regional operators became branches of CenterTelecom. Combining regional telecom companies into CenterTelecom made it one of the biggest fixed-line telecom operators in Russia. As of April 1, 2005, the company operates more than 6.8 million installed access lines and 3 million broadcasting points. CenterTelecom provides a wide range of telecommunications services, including traditional telephone services, Internet, IP telephony, data transmission, wave and cable television, and wired and VHF radio broadcasting. The company also leases lines and other resources, as well as providing connection to a general purpose network for other telecom operators. CenterTelecom is planning to implement fiber-optic lines, SDH networks, and advanced wireless access systems in all regions it covers. In 2004, the company’s regional market share was 91% in local communications, 85% in long-distance telecommunications, and 64% in new services (IP, VPN, Internet and others). In 2004, CenterTelecom’s capital investments were RUR9.4 billion, of which 73% is debt capital. In 2005, the company plans to invest about RUR3.8 billion in its development. Also, CenterTelecom intends to install 597,000 access lines and increase telephones by 360,000.

Shares Information

Charter Capital Structure
Type of ShareShares OutstandingNominal Value
Common Share1,578,006,833 3.00 RUR
Preferred Share525,992,822 3.00 RUR
Major Shareholders
Name% of Voting Stock% of Charter Capital
Telecommunication Investment Joint-Stock Company (Svyazinvest) 50.69 38.02
Closed JSC "Citibank" 6.74 12.28
Closed JSC "Brunswick UBS Warburg Nominees"n. a. 10.72
Natural Persons 6.46 8.79
Closed JSC "Depository-Clearing Company" 4.63 8.24
Russian Federal Property Fundn. a. 7.19
ING Bank 7.01 6.79
Natural Persons - CenterTelecom Employees 2.69 3.73
The National Depository Center 2.94 2.67
Deutsche Bank 1.72 1.32
J.P. Morgan International Capital Corp. 0.79 0.99
Closed JSC "Promsvyazbank" 1.14 0.93
ENR Holdings Ltd.n. a. 0.47
Closed JSC "Oskoltelecom" 0.45 0.34
Bank Societe Generale Vostok 0.38 0.29
Legal entities 0.11 0.21
Equity Positions in Other Companies
Name% of Charter Capital
JSC "Russian Telecommunication Network"100.00
Closed JSC "ATS"100.00
MobilCom Ltd.100.00
Teleport-Ivanovo Ltd.100.00
Closed JSC "Telecom-R"100.00
Telecom-Stroy Ltd.100.00
Telecom-Terminal Ltd.100.00
Closed JSC "Vladimir Teleservice"100.00
Tver-Telecom Ltd.85.00
Svyaz-Service-Irga Ltd.70.00
Vladimirsky Taxophon Ltd.51.00
Closed JSC "Telecom of Ryazan Region"50.90
JSC "RINFOTELS Telecommunication Company"26.00
JSC "Komset"5.17
Dividends History
Period Payment
per Share,
USD		 Number
of Shares		Ex-DatePayment
Date		Payout
Ratio, %		Dividend
Yield, %
1995 / com 2.70015 451,601 n. a.31 Dec 96n. a.n. a.
1995 / pref 10.8006 154,658 n. a.31 Dec 96n. a.n. a.
1995 / pref.B 6.0765 12,372 n. a.01 May 96n. a.n. a.
1996 / com 2.5167 451,601 16 May 9731 Dec 97n. a.7.989524
1996 / pref 13.4224 154,658 14 May 9731 Dec 97n. a.n. a.
1996 / pref.B 6.942 12,372 16 May 9701 May 97n. a.n. a.
1997 / com 0.000727 451,601 27 Mar 9831 Dec 980.0015430.001193
1997 / pref 0.004001 154,658 27 Mar 9831 Dec 980.002906n. a.
1997 / pref.B 6.734048 12,372 27 Mar 9801 May 980.39133n. a.
1998 / com 0.814814 451,601 24 Mar 9931 Dec 992.2534618.949163
1998 / pref 3.925922 154,658 24 Mar 9931 Dec 993.718353208.992388
1998 / pref.B 2.187363 12,372 26 Mar 9901 May 990.165729n. a.
1999 / com 1.42044 451,601 11 May 0031 Dec 006.30039914.2044
1999 / pref 5.823804 154,658 11 May 0031 Dec 008.846458171.288353
1999 / pref.B 2.884268 12,372 11 May 0001 May 000.350482n. a.
2000 / com 1.096566 451,601 13 Apr 0131 Dec 016.3508049.959727
2000 / pref 4.847672 154,658 13 Apr 0231 Jul 019.614898126.736519
2000 / pref.B 2.460625 12,372 04 Apr 0101 May 010.390413n. a.
2001 / com 0.000815 463,973,000 17 Apr 0231 Dec 029.2677460.003466
2001 / pref 0.00244 154,658,000 17 Apr 0204 Aug 029.2546660.026581
2001 / pref.B 0.001216 12,372,000 19 Apr 0201 May 020.368819n. a.
2002 / com 0.003284 1,578,006,833 04 May 0331 Dec 03201.5082220.0123
2002 / pref 0.006866 525,992,822 04 May 0323 Aug 03140.4241930.041612
2003 / com 0.004501 1,578,006,833 22 Apr 0431 Dec 04137.5751610.01268
2003 / pref 0.00977 525,992,822 22 Apr 0410 Aug 0499.5260110.039473
2004 / com 0.002217 1,578,006,833 12 May 0529 Aug 05neg0.007697
2004 / pref 0.00266 525,992,822 12 May 0529 Aug 05neg0.012913
2005 / com 0.002555 1,578,006,833 11 May 0620 Dec 06neg0.005268
2005 / pref 0.004744 525,992,822 11 May 0627 Aug 06neg0.010314
2006 / com 0.008086 1,578,006,833 03 May 0720 Dec 0718.8839580.011022
2006 / pref 0.015125 525,992,822 03 May 0717 Aug 0711.7737280.025898
2007 / com 0.015015 1,578,006,833 07 May 0831 Dec 0814.065870.016887
2007 / pref 0.029251 525,992,822 07 May 0825 Aug 089.1336810.047391

Stock Market

Instruments on Exchanges
Type of InstrumentTickerISINMarket
CenterTelecom CTLKRU0009075840MICEX
CenterTelecom ESMORU0009075840RTS Classic
CenterTelecom ESMOGRU0009075840RTS T+0
CenterTelecom ADR T2TUS15548M1080Berlin Stock Ex
CenterTelecom ADR T2TUS15548M1080Frankfurt SE
CenterTelecom ADR CRMUYUS15548M1080US OTC
CenterTelecom ADR T2TUS15548M1080XETRA
CenterTelecom pref CTLKPRU0009075857MICEX
CenterTelecom pref ESMOPRU0009075857RTS Classic
CenterTelecom pref ESMOPGRU0009075857RTS T+0
Price Chart
legend
Prices
prices
Volumes
click here to switch between exchanges
Performance Table
performance table

Shares
RTS Classic:Common Share
RTS Classic:Preferred Share
DRs
FSE:ADR
US OTC :ADR
Indices
RusIndex Telecommunications
DJ RusIndex Titans
MT RusIndex
RTS Index
RusIndex 100
Technical Analysis
Moving Average
Period (days)
Trend
  Year Month Day
  From: 
  To: 
Participation in DR Programs
LevelEffective
Date		Underlying
Share Ratio		CUSIPDepositary Bank
Level 1 ADR04 Sep 011: 10015548M108Morgan Guarantee Trust
Weightings in Indices
NameWeightInclusion DateNotes
RusIndex 100 0.0803 Nov 06
RusIndex Services 0.4503 Nov 06
RusIndex Telecommunications 1.2303 Nov 06

Fixed Income Instruments

Issue Parameters
Issue #/
Tranche #		Registration
Number		Registration
Date		PeriodPar
Value,
RUR		Issue
Volume,
RUR thnd		Number
of
Coupons		Coupon
Period		Guarantee
14-01-00194-A17 Oct 017321,000600,000591
24-02-00194-A25 Jun 021,0031,000600,0006216
184-18-00194-A01 Aug 031,0951,0002,000,0006183Bassian invest
194-19-00194-A29 Jun 041,8301,0007,000,00010182Telecom Terminal
204-20-00194-Ŕ15 Jun 061,8201,0003,000,00010182
Coupons
Issue #/
Tranche #		Coupon #Start
Coupon Period		End
Coupon Period		Coupon, %
1116 Nov 0119 Feb 0222.00
1219 Feb 0221 May 0221.50
1321 May 0219 Nov 0220.50
1419 Nov 0220 May 0318.00
1520 May 0318 Nov 0318.00
2123 Jul 0222 Oct 0220.00
2222 Oct 0222 Apr 0320.00
2322 Apr 0322 Oct 0318.00
2422 Oct 0321 Apr 0418.00
2521 Apr 0421 Oct 0416.00
2621 Oct 0421 Apr 0516.00
18116 Sep 0317 Mar 0412.35
18217 Mar 0416 Sep 0412.35
18316 Sep 0418 Mar 0512.35
18418 Mar 0516 Sep 0512.35
18516 Sep 0517 Mar 0612.35
18617 Mar 0615 Sep 0612.35
19117 Aug 0416 Feb 0513.80
19216 Feb 0518 Aug 0513.80
19318 Aug 0517 Feb 0613.80
19417 Feb 0619 Aug 0613.80
19519 Aug 0618 Feb 0713.80
19618 Feb 0720 Aug 0713.80
19720 Aug 0719 Feb 0813.80
19819 Feb 0820 Aug 0813.80
19920 Aug 0819 Feb 0913.80
191019 Feb 0921 Aug 0913.80
20105 Sep 0606 Mar 078.09
20206 Mar 0704 Sep 078.09
20304 Sep 0704 Mar 088.09
20404 Mar 0802 Sep 088.09
20502 Sep 0803 Mar 09n. a.
20603 Mar 0901 Sep 09n. a.
20701 Sep 0902 Mar 10n. a.
20802 Mar 1031 Aug 10n. a.
20931 Aug 1001 Mar 11n. a.
201001 Mar 1130 Aug 11n. a.
Primary Market
Issue #/
Tranche #		Start
Placement
Date		End
Placement
Date		Placement
Price, %		Volume
Placed,
RUR thnd		Maturity
date		Offer
Date		Offer
price, %		StatusIssue
Placement
Registration
Date
116 Nov 0116 Nov 01100.00600,00018 Nov 03  redeemed10 Dec 01
223 Jul 0223 Jul 02100.00600,00021 Apr 0524 Apr 03100.00redeemed15 Aug 02
1816 Sep 0317 Sep 03100.002,000,00015 Sep 0619 Sep 05101.50redeemed14 Oct 03
1917 Aug 0431 Aug 04100.005,622,59521 Aug 0916 Nov 06100.00outstanding12 Oct 04
2005 Sep 0605 Sep 06100.003,000,00030 Aug 1104 Sep 08100.00outstanding17 Oct 06

Key Financial Characteristics

Balance Sheet
  31 Dec 05 31 Dec 06 31 Dec 07 31 Dec 05 31 Dec 06 31 Dec 07
 RUR mnRUR mnRUR mnUSD mnUSD mnUSD mn
RUR/USD Exchange rate 28.79 26.35 24.54
ASSETS, of which 40,622.42 41,426.41 48,054 1,410.82 1,572.13 1,958.2
Fixed Assets and Other Non-current Assets, of which 35,597.35 35,080.97 42,208 1,236.31,331.321,719.98
  Fixed Assets 30,176.74 29,598.91 36,332 1,048.04 1,123.28 1,480.53
  Intangible Assets 4,096.39 3,493.83 5,061 142.27 132.59 206.24
  Other Assets 1,324.22 1,988.23 815 45.99 75.45 33.21
Current Assets, of which 5,025.06 6,345.44 5,846 174.52240.81238.22
  Inventories 513.63 458.65 529 17.84 17.41 21.56
  Accounts Receivable 1,877.46 2,454.78 2,670 65.2 93.16 108.8
  Cash 994.63 1,245.22 569 34.54 47.26 23.19
  Other Current Assets 1,639.35 2,186.8 2,078 56.93 82.99 84.68
OWNER'S EQUITY, of which 11,296.52 10,505.82 17,136 392.33398.7698.29
  Charter Capital 6,900.17 6,900.17 6,900 239.64 261.86 281.17
  Reserves 11.56 5.68 16 0.4 0.22 0.65
  Retained Earnings 4,384.8 3,599.98 10,220 152.28 136.62 416.46
LIABILITIES, of which 29,325.9 30,920.59 30,918 1,018.491,173.441,259.91
  Long-Term Debt 6,824.53 15,991.84 13,194 237.02 606.89 537.66
  Short-Term Debt 2,263.76 774.7 571 78.62 29.4 23.27
  Accounts Payable 2,468.2 4,510 4,684 85.72 171.15 190.87
  Other Liabilities 17,769.41 9,644.04 12,469 617.13365.99508.11
Financial data standard IAS IAS IAS IASIASIAS
Audited Audited Audited AuditedAuditedAudited
Consolidated Consolidated Consolidated ConsolidatedConsolidatedConsolidated
P&L Account
  31 Dec 05 31 Dec 06 31 Dec 07 31 Dec 05 31 Dec 06 31 Dec 07
 RUR mnRUR mnRUR mnUSD mnUSD mnUSD mn
Average RUR/USD Exchange rate 28.3027.1625.58
Sales 28,700.6529,483.4533,4521,014.331,085.351,307.72
Production Costs 26,434.1624,187.7625,590934.23890.41,000.37
Operating Profit 2,266.495,295.697,86280.1194.95307.34
Other Income -2,494.97-2,673.65-1,746-88.18-98.42-68.26
Income Before Taxes -228.482,622.046,116-8.0896.52239.09
Net Income -649.221,835.634,309-22.9467.57168.45
Financial data standard IAS IAS IAS IASIASIAS
Audited Audited Audited AuditedAuditedAudited
Consolidated Consolidated Consolidated ConsolidatedConsolidatedConsolidated
Key Ratios
  31 Dec 05 31 Dec 06 31 Dec 07
Company Valuation Coefficients  
P/BV 1.95 2.90 2.01
P/S 0.75 1.07 1.07
P/E neg. 17.12 8.32
Company Efficiency Coefficients  
Sales/Employee, USD thnd 15.76 18.30 24.82
Net Profit Margin, % neg. 6.23 12.88
ROA, % neg. 4.59 9.21
ROE, % neg. 19.15 27.99
Turnover Coefficients  
Receivables Turnover 14.52 13.76 13.02
Assets Turnover 0.70 0.74 0.71
Inventory Turnover 52.49 61.65 67.15
Liabilities Turnover 0.99 0.99 1.08
Capital Structure Coefficients  
Equity Ratio 0.28 0.25 0.36
Debt Ratio 0.72 0.75 0.64
Equity/Debt 0.39 0.34 0.55
Current Liquidity 0.26 0.62 0.50
Quick Liquidity 0.24 0.58 0.45

Production Overview

Production
ProductMeasure200420052006Units
Access lines in use16,298,6116,300,0006,609,951lines
  Rural telephone network1n. a.n. a.923,444lines
  Urban telephone network1n. a.n. a.5,686,507lines
Access lines installed16,798,1286,847,3736,983,115lines
  Rural telephone network1n. a.n. a.1,025,639lines
  Urban telephone network1n. a.n. a.5,957,476lines
Digitalisation rate (Rural telephone network)11717.122%
Digitalisation rate (Urban telephone network)15453.958%
DLD traffic1,0002,811,1552,820,364n. a.min
ILD traffic1,000197,760189,441n. a.min
Telephone switches18,55826n. a.units
Telephones16,229,9166,420,3386,546,977units
Capacity
ProductMeasureCapacityUnits
Access lines installed16,847,373lines

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