At the year-end of 2003 OJSC “VolgaTelecom” revenues amounted to 14 677 million rubles, which exceeds the amount of revenues of 2002 by 33.8%. The income from communication services sales increased by 34.5% to 14 242 million rubles vs. the figures of 2002.

The rate of growth of expenses under common types of activity was 134.2% and the total amount of expenses under common types of activity was 10 463 million rubles.

Sales profit increased by 32.9% to 4 214 million rubles, and the balance-sheet profit by 43.6% to 2 858 million rubles. OJSC “VolgaTelecom” net profit at the year-end of 2003 amounted to 1 983 million rubles (the growth rate is 134.7%). The cost-efficiency as regards the sales profit amounted to 28.7%, the cost-efficiency as regards the balance-sheet profit increased to 27.3%, and the net profit cost-efficiency amounted to18.6%.

During the report period the number of lines per an employee grew by 11.4 % to 77.7 lines. Proceeds per an employee increased by 39.8% to 284.6 thousand rubles, and the expenses per an employee amounted to 202.9 thousand rubles. At the year-end of 2003 the proceeds per line amounted to 3 662.4 rubles (the growth rate is 125.5%). The prime cost per proceeds ruble – 71.3%.

In 2003 OJSC “VolgaTelecom” invested 4 514 million rubles (the growth rate is 128.4%) in communication facilities development. Traditionally, considerable part of capital investments was allocated for the development of local telephone communication (67%). As a result, 455.5 thousand numbers were commissioned (the growth rate is 112.8% vs. 2002) during the report period. The growth of basic telephone sets was 247.3 thousand numbers, which is by 22.5% higher than the same figure in 2002. At the year-end of 2003 the average number of lines in OJSC “VolgaTelecom” is 4 008 thousand lines.