Home  Issuers' Corner  Press Releases
CLOSE

Press Releases

company search
all press releases
all Uralsvyazinform press releases

Uralsvyazinform

April 11, 2003

The Board of Directors approves Uralsvyazinform’s 2003 Budget (Business Plan) under Russian Accounting Standards

In 2003 the company’s revenues are planned to be RUR 18,9 bln., that is + 27,8 % as compared to 2002*. The revenues from telecommunication services total RUR 16,9 bln., including revenues from local telephony – RUR 5,8 bln. (+23,2 %), domestic and international long-distance telephony – RUR 7,9 bln. (+22,0 %), mobile telephony* – RUR 2,0 bln. (+101,8 %), new telecommunication services – RUR 0,5 bln. (+66,8 %).

According to the company’s budget (business plan) expenses as of 2003 are expected to increase by 21,7 % as compared to 2002 and will amount to RUR 13,3 bln., where wages total RUR 4,0 bln. (+22,7 %), material expenditures – RUR 0,7 bln. (+8,5 %), Rostelecom interconnect fees – RUR 1,8 bln. (+21,1 %), depreciation - RUR 1,9 bln. (+31,4 %). The share of expenses in revenues amounts to 70 % (-5,4 %).

Thus, 2003 EBITDA is planned to be RUR 7,5 bln. (+41,2%), sales profit - RUR 5,6 bln. (+44,9 % as compared to the year 2002), pre-tax profit – RUR 2,6 bln. (+94,0 %), net profit – RUR 1,6 bln. (+99,6 %).

In 2003 the investment policy retains its focus on development of mobile networks (+554 thous. lines), upgrade and capacity extension of wire-line network (+356 thous. lines), further digitalization and deployment of intrazone fiber-optical and radio microwave lines (+2.1 thous. km and +1.1 thous. km respectively), promotion of new services. The company estimates that wire-line network will be 62% digitalized, while intrazone links will reach 37% respectively. Number of lines per one employee will amount to 90 (+14%). The company has scheduled for 2003 the introduction of time-based billing in Kurgan, Sverdlovsk, Chelyabinsk regions, Khanty-Mansyisky Autonomous District, and Yamalo-Nenetski Autonomous District. There are also plans to consolidate company's mobile business under a unified brand.

The total Uralsvyazinform’s Capex is planned to reach RUR 5,6 bln. in 2003 (+21,8% as compared to 2002). The expected amount of fixed assets to be put in operation is RUR 5,7 bln. The bulk of investments will be placed in Sverdlovsk region (RUR 1 049 bln.) and Khanty-Mansiysk Autonomous Region (RUR 1 002 bln.). The investments will be 57% financed from internal funds, including depreciation (42%) and profit (15%); borrowed funds will cover 43% of investments, including bond issuance (36%) and credits (7%). The bond issue with the value of RUR 3 ml. is expected to be placed in June 2003.

*excluding revenues from subsidiaries

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z



Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer