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The PJSC MGTS revenue also increased by 26.7% amounting to 12.8 billion rubles in 2003 as against 10.1 billion rubles in 2002.
"A significant corporate net profit growth in 2003 is determined by a reduction of cross financing of the non-regulated and regulated services, increment of the scope of the available services vs restrained growth of the costs. In 2004, we expect a certain lowering of this indicator as a result of bringing the cost of the fixed assets into accord with their market value", Victor A. Chervony, MGTS Deputy General Director for Economy and Finance, said.
Please see the table of the Company's major financial indicators for 2002 and 2003, and their forecast for 2004 (RUR'000 000) as follows:
| Indicators |
YR 2004 (forecast) |
YR 2003 |
YR 2002 |
| Revenue |
14 779 |
12 775 |
10 102 |
| Profit from sales |
3 441 |
3 736 |
2 608 |
| Net profit |
1 252 |
2 157 |
1 126 |
In 2003, the amount of the capital investment made up 2.5 billion rubles vs 2.4 billion rubles in 2002. In 2004, the targeted capital investment is 3.2 billion rubles.
The increase in the capital investment is primarily associated with the outset of the network upgrade on a large scale. In 2004, we intend to activate about 70 000 new telephone numbers, which will create prerequisites for eliminating the telephone installation waiting list problem.
Please see below the 2003 major performance indicators:
- In 2003, the estimated installed capacity amounted to 4 370.6 thousand numbers vs 4 334.9 thousand numbers in 2002.
- The number of the main telephone-sets (excluding those in the Company's public payphone network operation) grew up to 4 127 791 pieces vs 4 084 482 pieces in 2002.
- The number of telephones per 100 inhabitants as of 1/1/2004 stands at 52.2 pieces vs 51.72 pieces as of 1/1/2003.
- The number of telephones per 100 apartments as of 1/1/2004 made up 114.9 pieces vs 113.5 pieces as of 1/1/2003.
The "Economy and Finance" Section carries a publication of the PJSC MGTS balance sheet and profit and loss statement for yr 2003.
PJSC Moscow City Telephone Network is one of the biggest not only in Russia, but among the local wire telecommunications companies in Europe too. The Company's continual priority task is to provide quality telephone communication accessible to the millions of the Russia's capital-city inhabitants. The MGTS personnel of 20 000 persons supply services to about 4.2 million subscribers. The telephone density in Moscow conforms to the European standards - over 50 MGTS telephones per 100 metropolitan residents. There are about 600 MGTS telephone exchanges in operation, and their number increases year by. There are presently 18 000 pay stations available at the Company's public payphone network. To date, the MGTS share amounts to 80% in the Moscow fixed telecommunications market. The dynamic development of the Company is noted for its stable economic situation, prescheduled on-going income growth rate, and for the amount of provided services on the upgrade. The Central Office of PJSC MGTS is located in Moscow at 12, bdg. 3, Petrovskiy Boulevard, Moscow, Russia. The Company's Internet address is www.mgts.ru.
For further details, please approach the Department of
Information and Public Relations - PJSC MGTS.
Tel: +7 (095) 950 0623, fax: +7 (095) 950 0622,
E-mail: pressa@mgts.ru
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