Rostelecom’s Announced Q1 2008 Results
OREANDA-NEWS. On 29 May 2008 Rostelecom, Russia’s national long-distance operator announced its unaudited RAS results for the first quarter of 2008.
Rostelecom’s revenue rose 1% in 1Q 2008 and stood at Rub 15,335,700,000.
In Q1 2008 domestic long-distance traffic (DLD) amounted to 2,544,800,000 minutes, which is 2.1% more than in Q1 2007. The company’s revenue from DLD decreased 1.3%. This trend was due to a decrease in the maximum amount of tariffs in accordance with a decision by regulatory authorities.
Outgoing international long-distance traffic (ILD) decreased 3.9% to 44.7 mln minutes. Revenue from the provision of long-distance calls to Russian clients stood at Rub 900.7 mln, which is 6.8% less than in the first three months of 2007. The ILD trend is associated with heightened competition and a change in the structure of international traffic.
ILD traffic from foreign operators rose compared with the first quarter of 2007 by 13% to 749.4 mln minutes, which points to the ongoing strength of Rostelecom’s positions on the international operators’ market. Revenue from terminating and transiting ILD traffic rose 9.5% during the first three months of 2008 to Rub 1,328,600.
The company’s revenues from other services for Q1 2008 increased 11% compared to the same quarter in 2007, reaching to Rub 3,536,300. The rise in revenues from other services is due to higher revenues from the lease of telecom channels, intellectual telecom network services, datacom services and telematic services, as well as technical support. The company’s revenue from leasing telecom channels increased 4.1% compared to the first quarter of 2007 to Rub 2,053,500. Revenue from the provision of datacom and telematic services rose 4.4 times compared to the first quarter of 2007 to Rub 486,600,000. Revenue from intellectual telecom networks surged 43.9% to Rub 321,400,000.
The company’s expenses for core forms of activity amounted to Rub 11,781,700, which is 3.6% less than in the first quarter of 2007.
Depreciation charges for the first three months of this year stood at Rub 1,071,900. A 15.7% rise in depreciation charges compared with the first quarter of last year was due to the commissioning of a number of fixed assets in 2007.
OIBDA rose 18.8% compared with the first quarter of 2007 to Rub 645,900,000. One of the main factors behind the rise in OIBDA is a decrease in the company’s expenses for core types of activity due to the elimination of the compensatory surcharge as of January 1, 2008. OIBDA margin stood at 30.3%.
EBIT in the first three months of 2008 amounted to Rub 3,574,000, which is 19.8% more than this indicator during the same period last year.
Other profits and losses totaled Rub 87,900,000 compared with Rub 902,900,000 in the year-earlier period. The decrease of this indicator is due to the implementation of a number of financial investments in the first quarter of 2008, the decrease in investment amounts subject to revaluation, and also negative foreign exchange rate differences based on the results of the first three months of 2008.
Rostelecom generated Rub 2,775,500 in the first quarter of 2008, which is 5% less than in the same quarter a year ago.
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