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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