OREANDA-NEWS. On 24 December 2008 Sibirtelecom (RTS: ENCO/ENCOP, ENCOG/ENCOPG; MICEX: STKM/STKMP; ADR: ОТС– SBTLY, Frankfurt and Berlin stock exchanges – ISIN: US8257351036, WKN: 260452) – an operator of telecommunications services in the Siberian Federal District presented its consolidated financial statement for 9M 2008 (unaudited) which was prepared in accordance with international financial reporting standards (IFRS).

This is the first time Sibirtelecom has presented a 9M IFRS statement, as such report had not been released previously.

The consolidated financial statement includes the assets, liabilities and results of the activities of Sibirtelecom and its subsidiaries (hereinafter, the company).  The main activity of subsidiaries is to provide cellular communication services and other telecommunications services.

The company’s consolidated revenues in 9M 2008 stood at Rub 917 mln.

The structure of the company’s consolidated revenues is mainly composed of earnings from the provision of local voice telephony (Rub 8,530 mln) and cellular services (Rub 7,420 mln) or 30.6% and 26.6%, respectively.

Other main items in the operator’s revenue mix include revenue from the provision of intrazonal traffic (Rub 4,009 mln) and telegraphic services, datacom network and telematic solutions (Internet) (Rub 3,380 mln), which account for 14.4% and 12.1%, respectively. Revenues generated from interconnect and traffic transmission accounted for 10.9% (Rub 3,055 mln) of total revenue.

The company’s main revenue drivers during the reporting period were the rise in its cellular subscriber base, rollout of broadband Internet access (growth in the number of Internet and Internet traffic users).