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CenterTelecom

May 24, 2010

CenterTelecom reports RUB5.868 billion net profit for 2009 based on IFRS

Moscow, May 24, 2010. CenterTelecom, the largest telecommunications operator in Russia’s Central Federal District, reports its operating results for 2009 issued in accordance with International Financial Reporting Standards (IFRS).

Basic Figures, RUB Million 

 

2009

2008

Change, %

Revenues  

37,309

34,794

+7.23

Operating expenses (net)

(26,795)

(25,697)

+4.27

Operating profit

10,514

9,097

+15.58

Profit before tax and minority interests

7,668

5,512

+39.11

Net profit for the reporting period

5,868

4,220

+39.05

EBITDA[1]

16,777

13,228

+26.83

EBITDA margin, %

44,97%

38,02%

+6.95 pp

Profit margin for the reporting period[2], %

44,97%

38,02%

+3.6 pp

Fixed assets

47,264

48,829

-3.21

Long term liabilities

15,929

16,607

-4.08

Short term liabilities

11,962

17,923

-33.26

Net debt[3]

16,558

23,765

-30.33

Net cash from core operations

13,059

10,385

+25.75

Net cash spent for investments

(5,345)

(6,024)

-11.27

Net cash used in the course of financial activities

(7,384)

(4,360)

+69.36

 

Income Structure for 2009, RUB Million

 

2009

2008

Change, %

Local telephony services

16,822

15,676

+7.31

Intra-zone telephony services

5,799

5,953

-2.59

Interconnection and traffic transfer services

3,802

3,969

-4.21

Data transmission and telematic services (Internet access)

6,302

4,885

+29.01

Cooperation and agency services

1,097

1,123

-2.32

Mobile telecommunications, wire broadcasting, radio and TV

765

710

+7.75

Payment for installation and connection

476

569

-16.34

Other services (core operations)

1,109

1,020

+8.73

Income from other sales (non-core operations)

1,137

889

+27.90

Including income from lease of assets

778

567

+37.21

Total:

37,309

34,794

7.23

CenterTelecom’s consolidated revenues for 2009 rose 7.23% against 2008 reaching RUB37.309 billion.

Data transmission and telematic services (Internet). New telecommunications services segment demonstrates the fastest rate of growth in CenterTelecom's revenues structure for 2009. Owing to implementation of new telecommunications services including Internet access through FTTx technology, to balanced tariff policy and aggressive marketing campaigns aimed at promotion of broadband Internet access services under DOMOLINK brand and increase of the customers' loyalty, the number of the Company's broadband Internet subscribers increased by 70.14% reaching 1.191 million users. Dynamic growth of the company's subscriber base contributed to 29.01% growth of the revenues from new telecommunications services segment (from RUB4.885 million in 2008 to RUB6.302 in 2009).

CenterTelecom’s Operating Expenses (net) in 2009, RUB Million 

 

2009

2008

Change, %

Personnel costs

10,500

9,110

+15.26

Depreciation and amortization

6,401

5,173

+23.74

Expenses on telecommunications operators’ services

2,920

3,132

-6.77

Material costs, repair, maintenance, public utility services

3,746

2,887

+29.75

Taxes except profit tax

806

861

-6.39

Expenses related to agency services

932

709

+31.45

Reimbursement of losses from provision of universal telecommunications services

(2,786)

(1,559)

+78.70

Other operating expenses, net

4,276

5,384

-20.58

Total:

26,795

25,697

+4.27

The Company’s financial statement for 2008 was audited by KPMG CJSC, an independent audit company.

[1]EBITDA is calculated as earnings before taxes minus depreciation minus net interest receivable.

[2]Profit margin for the reporting period is calculated as profit for reporting period before minority interests/revenues.

[3]Net debt is calculated as the sum of long term and short term liabilities on loans, borrowings and financial leases minus cash assets and their equivalents.

 

 

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