NW Telecom has released its 2002 IAS financial results.  Ernst & Young Vneshaudit conducted the audit of the company’s financial statement.

NWT’s financial statement was drafted taking into account the regional entities which have merged with it, as well as the company’s subsidiaries. Key financial indicators are as follows:

·        revenue from primary activity was Rub 10.8 bln;

·        EBITDA was Rub 2.8 bln;

·        EBITDA margin was 26.32%;

·        Profit from main activity was Rub 1.1 bln;

·        Opex was Rub 9.6 bln;

·        Net profit was Rub 482 mln. 

*All financial indicators are shown based on the official ruble/dollar exchange rate as of December 31, 2002.

The complete 2002 IAS financial statement of North Western Telecom can be viewed on the company’s corporate website at www.nwtelecom.ru in the section entitled Investors and Shareholders.