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Moscow, November 2, 2004 - CenterTelecom (RTS: ESMO, ESMOP; OTC: CRMUY), a major fixed telecommunications provider, published its financial results to RAS for 9 months of 2004.
The key indicators for 9 months of 2004:
Sales - RUR 17 987.2 million, including RUR 6 183.8 million in Q3
Sales margin - RUR 3 570.1 million, including RUR 1 401.0 million in Q3
Operating costs - RUR 14 417 million, including RUR 4 782.7 million in Q3
Net profit - RUR 5.1 million, including RUR 27.9 million in Q3
EBITDA - RUR 3 521.7 million
As of the end of 9 months of 2004, sales grew 20.9 % y-o-y due to the growth of the sales volume of the basic and value-added services. The scheduled rates increase has been postponed from 01.07.2004 until a later date due to the reform of administrative authorities of the Russian Federation.
During the aforementioned period, despite the inflation and a reasonable costs growth (first of all amortization, property insurance, clearances with Rostelecom ) the company was able to overcome the negative trend and net RUR 5.1 million for 9 months of 2004. This demonstrates the management’s ability to control costs, to contribute to rates growth and to respect its obligations.
The company plans to optimize its investment costs to obtain better financial results.
Contacts:
CenterTelecom is a leading fixed communications company providing the entire range of telecommunication services in the Central Federal District where over 20 % of the population of Russia resides. CenterTelecom offers the full range of telecommunication services, including telephony service, the Internet, IP telephony, data communications, CATV, wired and VHF broadcasting. The company actively develops modern multiservice and SDH networks as well as new radio access systems. The Company trades on RTS (ESMO, ESMOP), Moscow Interbank Currency Exchange (CTEL, CTELP) and has ADR Level 1 common stock program (CRMUY).
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