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Press Releases > CenterTelecom  all about the company

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CenterTelecom

October 27, 2010

CenterTelecom reports financial results for 9M 2010

Moscow, October 27, 2010 - CenterTelecom has summed up the companyís financial results for the first nine months of 2010 according to Russian Accounting Standards (RAS).

Key Financial Highlights for January-September 2010, RUB Million

Indicator

9M 2010

9M 2009

Relative deviation

Absolute deviation

Revenue from core operations

29,424

26,776

9.89%

2,649

including revenue from telecommunications services

27,758

25,249

9.94%

2,509

Expenditure on core operations

23,187

21,738

6.66%

1,448

including depreciation

2,923

3,277

-10.81%

-354

EBITDA (1)

13,383

12,803

4.53%

580

EBITDA margin (2)    

45.48%

47.81%

-

-2.33 pp

Sales profit

6,237

5,038

23.80%

1,199

Net profit

5,321

4,072

30.66%

1,249

Net profit margin

18.08%

15.21%

-

2.87 pp

Characteristics of operational efficiency:

- The number of telecommunications lines per employee rose 5.7% to 247.9 lines (234.4 lines for January-September 2009)

- Revenue per line for January-September 2009 increased by 10.1% from RUB3,895 in January-September 2009 to RUB4,288.92 for the reporting period

- Revenue per employee for January-September 2010 reached RUB1,063,000 or 16.4% more than in January-September 2009 (RUB913,000).

- Personnel numbers were reduced by 5.6% to 27,676 employees (29,322 in January-September 2009)

Income Structure for January-September 2010, RUB Million

Indicator

9M 2010

9M 2009

Relative deviation

Absolute deviation

Intra-zone telephony services

4,309

4,498

-4.21%

-189

Local telephony services

14,172

12,736

11.28%

1,437

Telegraph communications services, data transmission and telematic services

5,613

4,518

24.24%

1,095

including data transmission and Internet access services

5,445

4,369

24.64%

1,076

Interconnection and traffic transfer services

2,871

2,702

6.25%

169

Cooperation and agency services

745

752

-0.94%

-7

Other income from core operations

792

795

-0.39%

-3

Other income from non-core operations

922

775

18.88%

146

including income from lease of assets

663

574

15.35%

88

Total

29,424

26,776

9.89%

2,649

For the first nine months of 2010 CenterTelecom's revenues increased by 9.89% against the same period of 2009. Among key drivers of growth were:

- 50.6% increase in the number of subscribers of broadband Internet access services reaching 1,521,883 users (against 1,010,826 subscribers as of September 30, 2010), and 38.5% growth of the number of data transmission network subscribers to 18,554 users (against 13,404 subscribers of September 30, 2010). It contributed to 24.24% increase in revenues (RUB5.613 billion) from telematic and data transmission services in comparison with 9M 2009 data.

- 11.28% increase in revenues from local telephone communications (RUB14.172 billion) against 9M 2009 caused by the subscribers' switch to time based billing. For the period from October 1, 2009 to October 1, 2010 41.8% CenterTelecom's subscribers have switched to unlimited tariffs. It contributed to increase in ARPU. Another factor contributed to the rise in revenues from local telephony was an adjustment of tariffs (9.6% increase in tariffs in Russia's Central Federal District on the average) in February 2010.

CenterTelecomís Expenses Structure for January-September 2010, RUB Million

Indicator

9M 2010

9M 2009

Relative deviation

Absolute deviation

Depreciation

2,923

3,277

-10.81%

-354

Personnel costs, social security

7,253

6,664

8.84%

589

Material costs

1,789

1,579

13.31%

210

Expenses on telecommunications operatorsí services

2,099

1,911

9.83%

188

Rent payments

3,676

3,628

1.32%

48

including current lease payments

3,160

3,117

1.40%

44

Charges to Universal Telecommunications Service Fund

290

263

10.09%

27

Other expenses

5,157

4,416

16.78%

741

Total:

23,187

21,738

6.66%

1,448

Vaagn Martirosyan, General Director, CenterTelecom, commenting on the company's results, said: "CenterTelecom's thorough adherence to the company's development and transformation strategy, its focus on promotion of high yield products and services and on the customers' needs is a guarantee of the company's growth and its high profitability."  

CenterTelecomís RAS financial statement for 9M 2010 is available at the company's web site.

 

 

 

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