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Financial Corporation "Sistema"

November 29, 2007

Financial results for the third quarter and first nine months of 2007

 Moscow,  Russia - November 29, 2007 - "COMSTAR - United TeleSystems"today announced its unaudited consolidated US GAAP financial results for the third quarter and nine months ended September 30,2007

 

THIRD QUARTER HIGHLIGHTS

  • Revenues up 28% year on year to US$ 372.2 million
  • OIBDA up 40% year on year to US$ 159.7 million and OIBDA margin of 43%
  • Operating profit up 54% year on year to US$ 117.7 million and operating margin of 32%
  • Net income of US$ 34.9 million before non-cash impact of revaluation of call and put option1
  • Cash flow from operations up 23% year on year to US$ 105.2 million
  • 44% year on year growth in Moscow broadband Internet subscriber base to 452,600 customers
  • Launch of revised broadband strategy including broadband sales under MGTS brand and ‘Fibre to the Curb' (FTTC) modernization of MGTS ‘last mile' access
  • 51% of MGTS residential subscribers on unlimited tariff plan; 22% on combined tariff plan; and 27% on per minute tariff plan, as at end of period
  • Comstar-Moscow corporate subscriber ARPU up 12% year on year to US$ 570.0

NINE MONTH HIGHLIGHTS

  • Revenues up 30% year on year to US$ 1,080.2 million
  • OIBDA up 40% year on year to US$ 463.2 million and OIBDA margin of 43%
  • Operating profit up 44% year on year to US$ 346.2 million and operating margin of 32%
  • Net income of US$ 110.3 million before non-cash impact of revaluation of call and put option
  • Cash flow from operations up 26% year on year to US$ 306.7 million.

 

 

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