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Press Releases > CenterTelecom  all about the company

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CenterTelecom

November 29, 2010

CenterTelecom reports 29.69% growth net profit for 2009 based on IFRS

Moscow, November 29, 2010 - CenterTelecom, the largest telecommunications operator in Russia’s Central Federal District, reports its non-audited operating results for the first nine months of 2009 issued in accordance with International Financial Reporting Standards (IFRS).

Key Financial Highlights for January-September 2010, RUB Million

Indicator

9M 2010

9M 2009

Absolute deviation

Relative deviation

Revenues 

30,039

27,427

2,612

9.52%

Operating expenses (net)

(20,868)

(19,071)

(1,797)

9.42%

Operating profit

9,171

8,356

815

9.75%

Profit before tax

7,847

6,150

1,697

27.59%

Net profit for the reporting period

6,168

4,756

1,412

29.69%

EBITDA[1]

14,169

13,027

1,142

8.77%

EBITDA margin [2] %

 

47.17%

47.50%

-

-

Profit margin for the reporting period[3], %

20.53%

17.34%

-

-

Fixed assets

47,959

47,264

695

1.47%

Long term liabilities

12,013

15,929

(3,916)

-24.58%

Current liabilities

14,858

11,962

2,896

24.21%

Net debt[4]

12,843

16,558

(3,715)

-22.44%

Net cash from core operations

10,337

9,126

1,211

13.27%

Net cash spent for investments

(4,967)

(2,942)

(2,025)

68.83%

Net cash used in the course of financial activities

(3,237)

(5,703)

2,466

-43.24%

Income Structure for January-September 2010, RUB Million

Indicator

9M 2010

9M 2009

Relative deviation

Local telephony services

13,994

12,457

12.34%

Intra-zone telephony services

4,074

4,274

-4.68%

Interconnection and traffic transfer services

2,971

2,809

5.77%

Data transmission and telematic services (Internet)

5,577

4,511

23.63%

Cooperation and agency services

783

797

-1.76%

Installation and connection fee

266

344

-22.67%

Mobile telecommunications, wire broadcasting, radio and TV

557

560

-0.54%

Other services

861

868

-0.81%

Revenues from other sales

956

807

18.46%

including income from lease of assets

660

571

15.59%

Total

30,039

27,427

9.52%

For the first nine months of 2010 CenterTelecom's revenues increased by 9.52% 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). It contributed to 23.63% increase in revenues (RUB5.577 billion) from telematic and data transmission services in comparison with 9M 2009 data.

· 12.34% increase in revenues from local telephone communications (to RUB13.994 billion) against 9M 2009 caused by the subscribers' switch to time based billing and by adjustment of tariffs (9.6% increase in tariffs in Russia's Central Federal District on the average) in February 2010.

CenterTelecom’s Expenses Structure for January-September 2010, RUB Million

Indicator

9M 2010

9M 2009

Relative deviation

Personnel costs

7,571

7,161

5.73%

Depreciation and amortization

4,994

4,803

3.98%

Material costs, repair, maintenance, public utility services

2,973

2,669

11.39%

Expenses on telecommunications operators’ services

2,308

2,080

10.96%

Taxes except profit tax

674

646

4.33%

Expenses related to agency services

2,308

2,080

10.96%

Reimbursement of losses from provision of universal telecommunications services

(2,068)

(2,116)

-2.27%

Other operating income and expenses, net

3,670

3,137

16.99%

Total:

20,868

19,071

9.42%

Vaagn Martirosyan, General Director, CenterTelecom, commenting on the company's results, said: "Our focus on promotion of high margin products and services, implementation of user projects with high financial returns, and our customers' needs, jointly with strict adherence to CenterTelecom's development and business transformation strategy contributed to the company's high efficiency for the first nine months of 2010."

CenterTelecom’s IFRS unaudited accounting statement for 9M 2010 is available at the company's web-site.

 

 

 

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